Louisiana Sports Betting Tax Bill will be OK by default
Legislation had to be started Louisiana Sports betting is advancing.
The Louisiana House passed Rep. John Stefanski‘s HB 697, 77-24, on Monday. The bill is now going to the Senate, where Senate President Patrick Cortez waiting to push his regulatory bill forward, SB 202.
HB 697 defines the tax and fee structure for sports betting in Louisiana. The bill also provides a way for bars and restaurants to offer sports betting over the Internet Louisiana Lottery.
in the November 2020, 55 of the state 64 The municipalities voted for the legalization of sports betting in LA, which is why the legislature must now lay down the basic rules.
“People talked and looked at us, why I can’t play now,” said Stefanski. “We have to tax it. We have to regulate it. “
Tax structure for sports betting in Louisiana
According to Louisiana law, the tax and fee bill had to start in the house. That is why Stefanski wrote HB 697, which also has 13th Co-authors.
As approved, the bill a 10% Tax on personal retail bets and 18% on mobile betting. Stefanski previously said that mobile is the revenue-generating slice of sports betting in LA.
He believes that the income from sports betting could be achieved for the state $ 20 million yearly.
Louisiana Lottery gets a piece
During the floor debate on Monday, Rep. Mandie Landry asked how the bill would help bars and restaurants recover from that COVID-19 Pandemic.
Stefanski stated that he had included a component that would enable the lottery to work with a sports betting operator for mobile operations and to provide kiosks in retail stores.
“So it was important to find an element of retail. We wanted these kiosks, ”said Stefanski. “There is one player who would say he doesn’t want to download an app or link a credit card, but when he’s at the bar he wants to place a bet [LSU.] There is a way to do this. … I see it as a benefit for retailers. “
The invoice instructs the lottery partner with an operator to handle the bets. Stefanski therefore believes that there is no risk of the lottery losing money. Similar to the tax structure, changes to the state lottery require a two-thirds Vote why it is included in the house bill.
Other representative thoughts on sports betting
Rep. Raymond Crews asked if the state is better off with casino games than before and how sports betting is changing that.
“It depends on the definition you are looking for,” said Stefanski. “If you are only concerned with other things and not the money the state receives, you can make an argument.”
Rep. Ryan Bourriaque highlighted the potential economic impact of investments made by casinos to improve their offerings.
The tax burden on sports betting removes one hurdle
The tax piece was the component that prevented daily fantasy sports on site for two years.
Many of the state’s parishes voted to legalize DFS in 2018However, operators can only apply for licenses now.
Stefanski also headed the DFS tax bill, which was ultimately passed.
“One of our problems with fantasy sports was that not many people understood what it was,” he recently told LSR. “People understand sports betting. In 55 out of 64 parishes it was pretty evident. The people of Louisiana want it, so we have to make sure it happens. “
The Louisiana Senate awaits you
Cortez will now try to initiate HB 697, his calculation and a mean calculation. SB 142by the Senate.
He kept his bill in the Judicial Committee B of the Senate waiting for the house bill last week. A hearing is planned today.
Its bill contains provisions regulating sports betting in Louisiana, including 20th Sports betting licenses. Each of the licenses can have up to two mobile licenses. With the lottery license it could be up to 41 Skins in the state.