Louisiana Governor John Bel Edwards has signed Senate Bill 130, putting the legalization of sports betting in the hands of the voters.
The voting will take place in November. Gov Edwards signed bill on June 11, it is now Act No 215.
If the Act is approved by Louisiana voters, the state would still need to set a tax rate and regulations. If the people approve the Bill, online sports bets would also be considered.
Louisiana is the third state after Maryland and South Dakota to vote on legalizing sports bets.
Sports Betting to Expected to Boost the Economy
Gambling is legal in the state of Louisiana, casinos operate on land and in riverboats. So many casinos had been closed due to the COVID-19 pandemic, they are only beginning to reopen now. Casinos are slowly reopening, the economy has been affected due to the pandemic as many businesses were closed including casinos. Sports betting had not been legalized in the state, it came close to being legalized in 2019. The bill could not reach the two-thirds threshold that is required by the state law of Louisiana.
The legalization if sports betting could bring about the economic boost that the state needs. There are states that have legalized sports betting in the country. States like Mississippi and Arkansas have legalized sports betting but the states only take bets in casinos and the casinos have been closed for over two months.
If the bill is voted into law by the people of Louisiana, you will most likely see the first sports bet in 2021.
Fantasy Sports
Gov Edwards also signed another bill that will see the setting up of fantasy sports. The bill is still in committee and it will soon move to the full house. According to the Corner Square, the bill will set an 8% tax on fantasy sports contests.
The Tax legislation will have to be signed by Gov Edwards if it gets approval from the legislature. Fantasy sports operators will be required to apply for licences with the Louisiana Gaming Control Board.
Conclusion
if voted into law, sports betting could complement gambling activities that are already available. Also, sports betting will bring the boost that the economy needs.
FAQs
[accordiongroup id=”763″ markup=”default”][accordion group=”763″ title=”Is sports betting legal in the state of Louisiana?” active=”true”]Sports bets are not yet legal in Louisiana. The bill that was set to legalize sports bets failed to pass before the legislative session.[/accordion][accordion group=”763″ title=”Can you gamble online in Louisiana?” active=””]Online gambling is illegal in the state of Louisiana. Also, Land based gambling is monitored by the state’s law enforcement.[/accordion][accordion group=”763″ title=”Where is sports betting legal in the US?” active=””]Sports bets is legal in states such as Indiana, Tennessee and Montana. In Tennessee, sports bets are allowed online only while in Indiana and Montana promotes sports bets in brick and mortar casinos.[/accordion][accordion group=”763″ title=”How Many states is sports betting legal?” active=””]There was a ruling that lifted the federal ban on sports bets on May 14, 2018. 11 states have since legalized sports bets since the ruling.[/accordion][/accordiongroup]