Louisiana Sports betting is on its way at some point and state lawmakers are starting to work on what it will look like.
There is seven LA sports betting bills pre-filed in Louisiana House and senate for the session that begins Monday.
Two of the bills SB 195 and SB 202, outline the proposed betting rules. Both start the session in the Judicial Committee B of the Senate.
Both calculations limit the use to that 55 Parishes that approved sports betting at the ballot box November 2020.
SB 202 Proposal for sports betting in LA
A non-partisan trio of senators is sponsoring SB 202. The bill provides a license for that Louisiana Lottery, marked as such, for online bets and at betting machines.
Beyond the lottery there would be nothing more than 20th Licenses. The preference would go to:
- 15th licensed river boats
- Four Live horse tracks
- one land based casino
Remaining licenses are then available for:
- Video poker licensed facilities
- Fantasy sport operator
A covert bidding process is carried out for the licenses if the applications exceed the available amount.
License holders can serve themselves or outsource. Licensees can work with up to two Skins.
A more unusual language contains a provision that at least 10% All bets must be held by an operator of a Louisiana chartered bank.
Sports betting in retail will be important
Sports betting designs play a role in who receives licenses:
“The proposed law provides that each applicant, with the exception of the Louisiana Lottery Corporation, submit a detailed plan for the layout of their sports betting lounge and other areas of their facilities where sports betting mechanisms can be placed, as part of their application. Requests the board to only grant a license to an applicant whose detailed draft plan the board deems acceptable. “
The bill requires personal registration before online betting.
Retail businesses with a Class A permit can also host betting mechanisms. This does not include, among other things:
- Convenience stores, quick stops or food marts
- Gas stations
- movie theater
SB 195 differs from other Louisiana calculations
Senator Cameron Henry sponsors SB 195, which limits the licenses to 20thwithout the lottery.
The bill allows 15 riverboat casinos, four racetracks, and the state’s land-based casino to apply for a license. Licensees can collaborate with up to three “branded websites that may have a mobile application with the same brand as the website”.
“Class A” retailers could also “enter into an agreement with an operator or sports betting service provider or distributor to host a sports betting mechanism and mobile betting”.
Bets could only be placed at the licensee’s premises or at an approved retail store and the invoice includes the geofence language.
Other suggestions for sports betting in Louisiana
HB 628 applies a tax structure and adds gambling operators to the state’s current gaming license language.
Among the fees:
- Sports betting license: $ 1 million Initial registration fee with a five-year license for $ 500,000
- Permission from the platform provider: $ 100,000 Initial registration fee with a five-year license fee of $ 50,000
- Service provider authorization: $ 50,000 Initial registration with a five-year fee of $ 25,000
- Dealer authorization: $ 5,000 Initial registration with a fee of five years from $ 2,500
In addition to the permits, HB 628 sets up a tax system:
- 15% Tax on bets at licensed betting shops
- 30% Tax on betting through mobile apps
- 40% Tax on wagering through the Louisiana Lottery
SB 121 authorizes municipalities to impose an excise tax on sports betting that are geographically within the municipality. The transaction tax would have a $ 5 Cover.
Louisiana Sports Betting Landscape
The state is home to more than 4.6 million People. That’s about 800,000 less than Coloradothat recorded $ 266.5 million in the February Handle.
Almost all of Colorado’s bets are placed online. Louisiana’s neighbor, Mississippi, only has retail bets and posted one $ 47.8 million treat in February with a population of almost 3 million.
The Louisiana wins Last fall’s campaign estimated between $ 237 million and $ 332 million in annual operator revenues, including a cellular market. Caesars, Boyd Gaming, DraftKings, FanDuel and Penn National were among the contributors to the Louisiana Wins campaign.
New Orleans has two professional sports teams that NBA‘s New Orleans Pelicans and the NFL‘s New Orleans Saints. In addition, the state is home NCAA Soccer powerhouse LSU.
Houstonwith its population of 7 millionis a short drive from several Louisiana casinos.
Sports betting operator’s presence in Louisiana
There was news in March Caesars is supposedly near a $ 200 million 20 years Deal for the naming rights to the home field of the saints who Superdome. Caesars operates the state’s only land-based commercial casino. Harrahs in New Orleans.
Riverboat casino and racino operators include:
- Penn National
- Bally’s Corp.
- Churchill Downs Inc.
- Golden nugget