Louisiana Gets Closer to Offering Sports Betting
From legislation to implementation, it is taking quite a while for Louisiana start offering sports betting in the state. For those who are planning to become a bookie master agent, the process is quite simple. However, for other markets, it takes a while. In the case of Louisiana, many experts are looking at the precedent of Daily Fantasy Sports (DFS) in the state. Which, even though the law was passed years ago, is still not implemented.
However, many in the gambling industry are hoping that the fiscal need for more funds will help motivate the authorities to allow sports betting to open sooner than later. And things are looking up, as PayPerHead news sites are talking about the latest in Louisiana sports betting.
Louisiana Sports Betting: One Step Closer
The Louisiana Gaming Control Board, or the LGCB is the regulatory authority for betting in Louisiana. Recently, their approval of regulations will allow operators to apply. For those who manage their sportsbook back office, this means good things. Especially as we are moving closer to football season, which is very popular in the US betting industry. The state now has emergency sports wagering regulations for licenses as well as platform provider application forms. This takes sports betting closer as retail and online sportsbooks in the state can now apply.
While the timeline may encounter delays, the gaming board will be busy with drafting and posting wagering rules to the public. The Louisiana betting law allows for both online sports betting as well as retail sports betting. There will be a 10% tax on retail bets, while online wagers will get a 15% tax. Sportsbooks will be available in 55 over 64 parishes in the state. While we may not see local sportsbooks operate by the time we welcome the first week of the NFL season, we may be seeing perhaps later in the year.