Louisiana House Approves Sports Betting Bill
Sports Betting Bill gets Green Light in Louisiana House
Sports betting legislation in Louisiana is heading back to the Senate as legal sports wagering in Louisiana moves a step closer. After passing through the Senate, the bill will be sent to the governor’s desk for signature. The state’s House Chamber voted 78-15 to pass SB 247, which sets the regulations for sports betting.
In May, the Senate approved the bill by a margin of 31-6 and moved to the House for the next stage. If the Senate gives final approval, the bill will then be sent to Gov. John Bel Edwards (D) for his signature. this Thursday. Edwards has thrown his support behind sports betting legislation in the past, so his signature is likely to be a formality.
How Licenses will be given out
The state will distribute 20 licenses between 15 current casinos and five racinos, with an allocation of two skins per license. Last week, bill SB 142, sponsored by state senator Rick Ward III, received approval in the Senate by a vote of 33-3. Following this, it has been passed onto the House. This bill takes all money generated by sports wagering and distributes it.
In May, HB 697 — a tax bill sponsored by Rep. John Stefanski, passed by a vote of 32-4. This bill authorizes the Louisiana Lottery to conduct sports wagering. Additionally, it levies a tax on sports gaming wagering. The bill was sent to Edwards’ desk on May 26 and has yet to be signed.
Sports Wagering set to be legal in 55 Parishes
In November 2020, 55 parishes out of 64 voted to permit sports betting. Consequently, the ball started rolling, and the process of passing the Louisiana sports wagering bill began in April.
Convenience stores will be prohibited from having a sports betting kiosk, but retail establishments that have a Class A retail license and sell alcohol can apply to have a sports betting kiosk.
Louisiana is notorious for being somewhat slow regarding passing gambling legislation. A prime example is daily fantasy sports receiving approval by referendum in 2018 but regulations not being passed until December 2020. Even now, DFS has still not launched in the Pelican State, although this should happen soon.
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