Louisiana sports betting bills entering home stretch

The legislative process to bring sports betting to Louisiana looks to be in the final innings, with a trio of bills outlining the framework and regulatory structure of sports betting nearing completion.

The Louisiana Senate passed SB 142, an appropriations bill, on June 2, while SB 247, a regulatory bill, was approved yesterday by the state’s House Chamber. Meanwhile, tax bill HB 697 has already passed both chambers and is headed to Governor John Bel Edwards’ desk for signing.

Governor John Bel Edwards

Once the final hurdles are cleared as anticipated, industry stakeholders will be able to formally begin the process of implementing sports betting in the 55 of Louisiana’s 64 parishes that were approved by voters for sports betting last fall.

SB 247 allows for 20 sports betting licenses that would be distributed to each of the state’s 15 riverboat casinos, four racinos, and one land-based casino in New Orleans. Taxes would be levied at a 10% rate on retail sports betting and 15% for online betting, with operators being required to pay a $250,000 application fee and a $500,000 license fee that would cover five years of operation.

Bettors would also notably be able to sign up either in-person or online, a distinction that has hamstrung other states such as Nevada and Illinois.

If all goes according to plan and Governor Edwards signs the respective bills into law, Louisiana could launch sports betting as soon as the start of the NFL season this fall.