Louisiana is one of the many states that is pushing forward with sports betting legalization. This is thanks to the two bills that are moving through the state legislature. The two bills are Senate Bill 202 and House Bill 697. State legislators in favor of sports betting remain upbeat that not only will Louisiana approve sports betting but the bettors in the state will be able to place legalized bets by the end of the football season.
Sports betting legislation in Louisiana has made significant process in 2021 and there are now just a few steps left before the bill gets presented before Governor John Bel Edwards for him to sign into being. The remaining steps include a House floor debate which many expect to be smooth sailing as the majority appear to be in favor of sports betting legalization.
The residents of Louisiana seem to have no objections to legalized sports betting. Out of the 64 parishes in Louisiana, 55 of them support betting on live-action sports. The tax bill has also gained legislative approval and now the only thing that needs to be finalized are the regulations that will govern sports betting in the state.
Legalized Sports Betting – The Details
The current legislation will allow Louisiana to issue up to 20 licenses for sportsbook operators. While some feel that the 20 licenses are definitely limiting the market potential, legislators in favor of betting believe that the 20 license limit will do more good than bad as it would prevent Louisiana s from turning into a complex mess of competing operators.
The licenses for sports betting will first be offered to the existing casinos and race tracks. If they pass up the opportunity, the video poker operators and the Daily Fantasy Sports (DFS) operators in the state will get the opportunity to apply for a sports betting license.
If a person wants to make a sports bet in Louisiana, they will have to be 21 or older and be physically located in a state parish that voted to legalize sports betting. Additionally, any individual taking part in a sports event may not bet on the results of the sports event they are taking part in. Betting operators who offer retain sports betting will also be given the opportunity to offer both online sports betting and mobile sports betting.