December 27, 2020
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Louisiana Sports Betting: what will the regulators decide?

  • by Donna Ennald
  • 1 year ago
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The achievements of the online wagering industry are known worldwide. Several operators such as Sbobet88 Indonesia are well known in the international market. After the legalization in America, many states across the country are looking forward to permitting online wagering. After the elections of 2018, even though the voters accepted, Congress members wasted more than a year to pass further regulatory legislation on sports betting in Louisiana. That too just as a special session as an alternative for the COVID-19 pandemic. The state legislators invested another half a year to come to terms on the final draft. It may take more time until organizers like DraftKings or FanDuel get approval and permission from the Louisiana Gaming Control Board, to begin with, the actual money contests.

 After getting permission to conduct these real money contests, Louisiana daily fantasy players will have lawful authority to fix line-ups and enter the contests by 2021. This launch is good news for the lately-delayed DFS launch for Louisiana, but this can also highlight the problems faced by the single-game sports in doing the same.

 Sports betting seems to follow the DFS path.

In the 2018 elections, voters in 47 out of 64 parishes accepted legal Daily Fantasy Sports games in their localities. It cleared the path for the operators to allow players in the states, which opposed the decision. Louisiana might face several difficulties in doing so. A hash of some legitimate and illegitimate alternatives will be one among them.

 Louisiana Sports wagering outline

 In 2018, the ban on sports betting was lifted entirely, and all the states were free to take their individual decisions on its regulation in their territory.

  • In March 2019, DFS proposed a bill to lay the foundation and framework for sports betting.
  • In June 2019, a failed attempt was made to put sports betting in front of the legislature along with the DFS.
  • In March 2020, another attempt was made, and a new sport betting bill was presented.
  • In May 2020, the House voted in favor of the sports betting bill.
  • In November 2020, 55 out of 64 parishes voted in favor of sports betting, approving it to launch in these localities.

 Over 90% of the sports betting market in the central states have turned to the internet. The Louisiana State Legislature will try to give a tough competition, including the mobile market in every parish where sports betting is legal. There are over 2000 casinos in the state, all within the parishes where sports betting is legal. All the casinos will launch their sportsbooks and mobile phones to lead the market.

 The powerful video poker industry operators might see this as a clear advantage and add sports betting in their machines. Politically this can be a significant factor as thousands of such video poker machines are already installed in various places. These can be some of the most critical factors in deciding the tax rates and other important decisions related to the legalization of sports betting in the coming year.

 However, in a win-win situation, the lawmakers might pass all the taxations and other regulations by the coming summer. The regulators can issue permits to the sports betting operators like DraftKings and FanDuel by the end of next year.

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