Three sports betting bills under discussion in Louisiana
Louisiana’s proposed sports betting regulation has arrived at the state Senate.
US.- Three bills under discussion at the state Senate would allow people in Louisiana to bet on athletic competitions at physical sportsbooks and through mobile applications. Legislation has also been proposed to regulate the taxation of the activity.
With 55 of Louisiana’s 64 parishes agreeing to allow sports betting on live-action games, lawmakers are due to set the tax rates for the sector.
The framework sponsored by Senate President Page Cortez would create 20 licences for sportsbook operators, with Louisiana’s casinos and racetracks given priority.
If those casinos and racetracks don’t seek all 20 licenses by January 1, fantasy sports betting operators and video poker establishments in the 55 parishes where sports wagering is legal would be able to apply for any available licenses.
According to the proposed legislation, any company that gets a licence to operate sports betting onsite also could have an online platform or a mobile app.
Sports betting is only allowed for people older than 21 in the state. The bill also notes that athletes, coaches and referees would not be able to bet on a sports event in which they are involved.
The bills now head to the full Senate for debate, but could be diverted to the Senate budget committee for a second review.
Three bills for sports betting regulation
The framework to regulate sports betting in Louisiana is expresed in three bills:
–Senate Bill 202 sponsored by Republican Senate President Page Cortez would allow the state to issue 20 licences to operate a sportsbook, with priority given to operators of the state’s 16 casinos and four horse racing tracks.
–Senate Bill 142 from Senator Rick Ward, R-Port Allen intends to regulate the destination of licensing fees. While this bill calls for the revenue to be deposited in the general fund, some lawmakers want the funds to be dedicated to early childhood education.
– Senate Bill 240 from Senator Jay Luneau, D-Alexandria looks to prevent companies from using refundable income and corporate franchise tax credits to reduce their tax liability.
