Louisiana sports betting
is now live as of January 28, 2022. Louisianans aged 21 and over can now legally place a mobile sports wager with any one of five top-rated US sportsbooks. Additionally, there are said to be at least another four to go live in the coming weeks - and quite possibly more throughout the year.
The five sportsbooks live in Louisiana now are:
- DraftKings
- FanDuel
- Caesars
- BetMGM
- BetRivers
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You can find out exactly
what you can bet on in Louisiana
right here - additionally check out
the rules on collegiate sports betting in LA.
If you are one of the people who voted to legalize sports betting through Senate Bill 247 back in summer 2021, you may remember talk of the Louisiana betting tax.
So what exactly is the Louisiana betting tax rate?
The Louisiana betting tax rate refers to the money that the state will collect from the sportsbook operators on each wager you place. As per the law written into Senate Bill 247, the state will collect 10% on bets placed at land-based locations and 15% on all mobile bets placed. In addition, the sportsbook operators will be charged an application fee and will have to pay a license fee once they have been approved to operate in the state.
What does this mean for bettors?
For you as a Louisiana bettor, it doesn’t mean a whole lot regarding you paying tax, as the tax will have to be paid to the state by the operators once the winners have been paid out. Essentially, you give your money to the sportsbooks by placing the bet, and it’s then the sportsbooks’ responsibility to pay the taxes - not yours.
Where will the Louisiana sports betting tax money go
The Louisiana state government has been very transparent about where the money generated from the sports betting tax rate will go. It has been written into law that 25% of total sports betting revenue tax up to $20 million must go towards early learning programs for children in Louisiana.
Like all other US states that have legalized sports betting, a small proportion of the revenue will be set aside to combat gambling addiction. In Louisiana’s case, this will mean up to $500,000 per year going to the Louisiana Association on Compulsive Gambling.
The rest of the money will be put towards local governments within Louisiana. 55 out of 64 LA parishes voted to legalize gambling. As a result, each parish will get money from the tax revenue that is propionate to the number it generated.
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