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Louisiana Passes Sports Wagering Proposition

Louisiana passes sports wagering proposition on this November's ballot, paving the way for wagering in the state.
Louisiana Passes Sports Wagering

In 2018, the United States Supreme Court ruled in favor of states allowing local sports wagering. Since this ruling, many states have taken up resolutions in order to allow betting. Parishes were asked to vote on a bill that would allow sports wagering in each respective Louisiana locations. This sports wagering proposition looked promising after the passage of a similar bill for fantasy sports in 2018. After the tallies, Louisiana passes a sports wagering proposition in the majority of parishes after the November elections.

Louisiana Passes Sports Wagering Proposition

Majority of Parishes Vote Yes

There were only 18 states that had voted and passed resolutions to allow local sports wagering up until November 2020. States across the country have taken up similar bills. For Louisiana’s ballot, the state let each parish decide to have sports wagering instead of a state-wide vote. (Louisiana has parishes instead of counties.) There were 55 parishes that passed this resolution. Only nine did not pass it. The nine parishes are Caldwell, Catahoula, Franklin, Jackson, Lasalle, Sabine, Union, West Carroll, and Winn. According to the Louisiana Wins website, an advocate for sports wagering, the state is poised to earn over $300 million in the taxes imposed by this passage.

Sports Wagering Future

The passage of this proposition in most states does not mean sports wagering is automatically legal. The Louisiana Gaming Control board must now structure the tax breakdowns for wagering. During this time, large gaming companies should approach the state to cater to the populace. The bigger names in sports wagering are Fan Duel and Barstool Sportsbook. Allowing these companies into the state would be a boon for the businesses and local taxes.

Louisiana sports teams should also use this new bill to their advantage. Pro teams like the New Orleans Saints and New Orleans Pelicans can embrace live betting. Making lounges specifically for those wishing to wager would be a selling point for attendees to live events. College towns across the state should also embrace the new laws. Having fan meetups for those who meet the age requirement to encourage wagering.

There is no current timetable for these tax outlines. Sports fans and the state are assuredly anxiously awaiting the time when betting is live. The Louisiana Gaming Control Board should have a decent start with the recent structuring of 2018’s daily fantasy taxes. The daily fantasy tax structure took over two years to accomplish. Let’s hope this new bill’s timeframe is much shorter for all those who supported Louisiana sports wagering.

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