Sports betting in Louisiana: new bill aims to hike online sports betting tax
Representative Roger Wilder has introduced House Bill 22, proposing an increase in gross revenue tax.
US.- A new bill aims to raise Louisiana’s tax rate on sports betting. Representative Roger Wilder has introduced House Bill 22, which aims to raise the tax rate to 51 per cent on gross gaming revenue (GGR). Louisiana currently levies 15 per cent on online sports betting GGR.
Wilder introduced HB22 during a special tax reform session called by Governor Jeff Landry. The bill has been referred to the House Ways and Means Committee. To pass, it needs a two-thirds majority vote in both the House and Senate.
The bill would also stop operators from offering promotional credits to players. Currently, promotional play is permitted and credits can be deducted from licensees’ tax calculations. Operators gave out $44.4m in promo credits during the fiscal year ended June 30.
Meanwhile, the Louisiana Gaming Control Board has published its online and retail sports betting revenue figures for September. The handle was $351.7m, up 25.4 per cent year-over-year and 50 per cent from August ($234.5m). Some $320m was wagered online and $31.7m at retail sportsbooks.
Adjusted gross revenue totalled $52.5m, up 25.6 per cent year-on-year and 106.7 per cent sequentially. Online revenue was $47.2m and retail $5.3m. This resulted in a state-wide hold of 14.93 per cent. Parlays generated the most revenue, at $35m. Football wagers generated $5.1m amid the start of the NFL season, and other bets reached $9.5m.
