Louisiana sports betting bill up to the last odds
Louisiana Sports betting legislation is in a race to be passed before the end of the session.
While Governor John Bel Edwards already signed HB 697, two more laws for sports betting in LA are still in the works. The session ends Thursday.
The most important draft law SB247, saw House Amendments rejected senate on Tuesday. The House approved a draft budget, SB142, for consideration after the 57th day and was postponed for the floor debate on Wednesday.
The legislative path for retail sports betting and for mobile devices is still clear, though perhaps not as smoothly as it turned out at the beginning of the session. More than 60% the resident of the state voted in November 2020.
Sports betting initiates conference committee
Senate President Patrick Page Cortez is a sponsor of SB 247, which sets the main regulatory framework for sports betting in Louisiana.
Cortez will be part of the conference committee working to clean up the language on the bill before it goes to Edwards. The bill was on the Senate calendar for Wednesday, under “Instruments pending Senate conference”.
Since Cortez drafted the bill, he’ll likely make getting it done quickly a priority. It originally happened to the Senate 31-6, on May 19.
Household bills go on
Though it began simultaneously with the two laws required to pass sports betting in Louisiana, Senator Rick Ward‘s SB 142 pulled through the two chambers. That was to get a better idea of what kind of money sports betting could generate in the state.
His bill determines where the money from Louisiana sports betting goes. There is no requirement to conduct sports betting in Louisiana.
Adopted by the Senate on 2th of June, a House Committee changed the percentages of sports betting revenue for various purposes in the state:
- 25% to the Louisiana Fund for Early Childhood Education
- 12% through proportional distribution to each municipality in which taxable behavior has occurred
- 2% to the Fund for Behavioral Health and Wellness
- 1% to the Sports betting supplementary fund
- Remaining money to the general fund
The money that the bill pays out comes from the sports betting tax set out in HB 647. This invoice determines the state taxes a 10% Tax on retail bets and fifteen% in mobile betting.
Halfway in Louisiana
Only HB 697 and SB 247 are required to conduct sports betting in Louisiana to meet voter needs.
HB 697 is already signed by the governor and defines the tax and fee structure for sports betting in the state and at the same time grants a license to the Louisiana lottery. This license enables kiosks in local restaurants and bars.
The Cortez bill outlines the regulatory framework in the state, including the allocation of 20th Licenses. These licenses allow the state to 20th Casinos and Racinos to run retail and online sports betting, including up to two skins each. Bettors can register online.
Football season is still the starting point for sports betting
The Bill sponsors continue to aim to be live during this year’s football season. The legislature has approved an amendment that the Louisiana game controls blackboard the ability to issue preliminary mobile operator licenses before physical sports betting is built.
Last week, Representative John Stefanski, who wrote HB 697, was confident that the invoices would be ready by the end of the session.
“I’m more optimistic now [that sports betting will launch during football season]“, Stefanski told LSR. “We gave the Gaming Control Board the ability to issue provisional licenses so that even if they don’t have physical sports betting they can go live with a mobile application. It is very likely. “