Similar to several US states, sports betting in Louisiana will be determined by its residents through voting. Each parish represents a vote. And in the question of sports betting, Louisiana votes to legalize sports betting with 55 out of 64 parishes saying yes. Does this mean that if you want to learn how to become a bookie, you can do it in Louisiana soon? Not exactly, and we will get into that later.
The vote to legalize sports betting in the state is a yes-or-no vote, so no details are mentioned and voted on. Come April 2021, the state legislature will be convening and they will be coming out with a bill on how they want to proceed with sports wagering.
Louisiana Votes to Legalize Sports Betting
Basically, legislators will be needing to figure out a lot of things. You have the tax rate, licensing fees, of course. Many bookie software users are also wondering if online betting will be allowed, or if it will just be retail-only? After all, some states that allow sports betting only add the service to existing casinos and race tracks. Currently, the state has both land and water-based casinos, and a few race tracks as well.
Many bookie pay per head operators have been doing well over the recent years. Despite a temporary slump due to the Coronavirus pandemic, the industry is already bouncing back. Given the fiscal woes of Louisiana, the state could stand to benefit from the money that they can collect from tax revenues, as well as sports betting licensing fees.
When Will We See Sports Betting?
The most glaring issue that many in the industry see is that two years ago, the state also passed a DFS law. Supposedly, this would legalize daily fantasy sports in the state. But 2020 is already ending, and we are still not seeing any regulation or policy on DFS. Perhaps, now that sports betting is legal, legislators can also include DFS in their discussion and have sports wagering operational in the next year or so.