A Louisiana sports betting bill dictating tax rates, licensing fees and other sports wagering requirements within the state has been approved by the Senate, meaning both houses have now passed the bill.
House Bill 697 was first introduced in April, and was approved by the House of Representatives earlier this month.
In addition to taxing retail bets and online bets at 10% and 18% respectively, the bill also proposes a $250,000 application fee for operating licenses and a $500,000 fee on receipt of the license itself.
Sports betting providers would require a unique license attached with a $100,000 application fee and a $250,000 fee upon receipt.
Service provider licenses would be also available for a $10,000 application fee followed by an extra $12,500 payment. Affiliates would be charged a $5,000 application fee and a further $2,500 in order to receive a permit.
The Louisiana Lottery Corporation have also been included in any plans that involve sports wagering, something that had been up for debate in an earlier version of the bill. If the organization chooses to partner with a sports betting provider, it would have to pay 30% of net gaming proceeds towards “expenses and costs deemed necessary to administer sports wagering”.
Sports wagering was first introduced in the state in 2020, after a parish-by-parish referendum saw 55 state parishes vote in favor of sports betting. However, under the state’s constitution, a bill setting out taxes could only be approved in an odd-numbered year.