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Sports wagering regulations laid out in bill signed by governor

2 years 5 months 1 week ago Tuesday, June 22 2021 Jun 22, 2021 June 22, 2021 3:36 PM June 22, 2021 in News
Source: WBRZ

BATON ROUGE - Governor John Bel Edwards signed two bills Tuesday relative to the regulation and taxation of sports wagering.

According to SB 142, there will be a 10% tax "when the wager is placed in person or via a sports wagering mechanism" and a 15% tax when bets are placed online. The bill also outlines how the money will be allocated across the state.

Taxes that are collected will be redistributed to the La. Early Childhood Education Fund, behavior Health and Wellness Fund and Disability Affairs Trust Fund.

Also signed by the governor, SB 247 outlines the regulations around sports wagering in the state.

Only 20 sports book licenses will be available. The first-considered applicants will be the land-based casino, fifteen licensed riverboats and four race tracks.

If any of these venues do not apply for a license, video poker establishments and fantasy sports operators will be the second group considered.

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