Some estimates indicate Louisiana could raise $10 million to $50 million on sports betting each year. Bets placed at locations such as sportsbooks will be taxed at 10 percent of net revenue and 15 percent on mobile devices. The tax will be applied to the money left over after the winning bettors have been paid.<\/p>\n
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Each of the current 20 gaming license holders in Louisiana will be allowed to contract with two sports betting companies to handle mobile betting. These gaming license holders in Louisiana include riverboat casinos, one land-based casino in New Orleans, and four racinos.\u00a0<\/span><\/p>\n<\/div>\nIf the gaming license holders want to provide sports betting, they will be required to pay $250,000 to apply for a sports betting license, and then $500,000 for a five-year license.\u00a0<\/span><\/p>\nAiming for Football Season<\/h2>\n
Rep. John Stefanski (R), who sponsored the bill to set tax rates on sports betting, said sports wagering probably won\u2019t be up and running in the state until 2022. He said licensing and other procedures required to get it going will take some time.<\/p>\n
Sports betting proponents have expressed hope that those issues can be resolved in time for people to bet by football season in the fall.<\/p>\n
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Louisiana is considered a hotbed for sports enthusiasts. New Orleans is home to the NFL\u2019s Saints and NBA\u2019s Pelicans. Louisiana State University, an annual college football powerhouse competing in the Southeastern Conference, plays home games on the campus in Baton Rouge. The Tigers begin their season on Sept. 4 in Pasadena, Calif., against the UCLA Bruins.\u00a0<\/span><\/p>\n<\/div>\nThe National Football League preseason begins with an Aug. 5 game between the Dallas Cowboys and Pittsburgh Steelers. The regular season opens with a Thursday night game on Sept. 9 between the Cowboys and Tampa Bay Buccaneers. NFL games usually are the most widely bet sporting events in the country.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"Louisiana\u2019s governor has signed the final bill required for sporting betting to begin in the state, possibly by football season. Gov. John Bel Edwards (D) on Tuesday signed legislation to regulate the sports betting industry in Louisiana. Edwards previously signed a bill that sets the tax rate on sports betting. The two-month legislative session at […]<\/p>\n","protected":false},"author":55,"featured_media":177525,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[13,1074],"tags":[],"acf":[],"yoast_head":"\n
Governor Signs Louisiana Sports Betting Bill, Wagering Could Begin By Fall - Casino.org Governor Signs Louisiana Sports Betting Bill, Wagering Could Begin By Fall<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n