{"id":1287,"date":"2024-11-12T03:16:36","date_gmt":"2024-11-12T04:16:36","guid":{"rendered":"http:\/\/buckinghamshire-removals.co.uk\/?p=1287"},"modified":"2024-11-14T14:20:56","modified_gmt":"2024-11-14T14:20:56","slug":"louisiana-pol-proposes-massive-sports-betting-tax-hike","status":"publish","type":"post","link":"http:\/\/buckinghamshire-removals.co.uk\/index.php\/2024\/11\/12\/louisiana-pol-proposes-massive-sports-betting-tax-hike\/","title":{"rendered":"Louisiana Pol Proposes Massive Sports Betting Tax Hike"},"content":{"rendered":"

Sports betting industry observers likely didn\u2019t have Louisiana considering a major tax increase on their 2024 bingo cards, but it\u2019s possible following newly filed legislation.<\/p>\n

\"Louisiana
The Caesars Superdome in New Orleans. A Louisiana politician proposed a bill that would raise the state’s sports betting tax to 51%. (Image: Getty)<\/figcaption><\/figure>\n

On Monday, Rep. Roger Wilder III (R-Livingston Parrish) proposed House Bill 22 (HB 22), which if enacted, would more than triple Louisiana\u2019s sports betting tax to 51% from 15%.<\/p>\n

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There is hereby levied a fifty-one percent tax upon the net gaming 2 proceeds from sports wagering offered to consumers within this state pursuant to this 3 Title electronically through a website or mobile application,\u201d according to text of the bill.<\/p>\n<\/blockquote>\n

Mobile sports betting debuted in Louisiana in early 2022<\/a> and since then, that form of wagering has flourished in a state that was already the casino capital of the Southeast. Currently, the state ranks 15th<\/sup> in handle since its legalization of sports wagering, though that position is likely to fall as more populous states such as Florida and North Carolina deliver more data.<\/p>\n

Louisiana May Be Inspired by NY Sports Betting Tax<\/h2>\n

It\u2019s not clear if Wilder drew inspiration from New York or Vermont in proposing HB 22, but those are the only other states with sports betting taxes of 51%.<\/p>\n

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While mobile sportsbook operators have been vocal in their criticism<\/a> of New York\u2019s tax scheme, gaming companies know the Empire State has leverage in the form of its status as the fourth-largest state in the country. That population heft isn’t an advantage Louisiana holds.<\/p>\n<\/div>\n

Wilder\u2019s proposed legislation could ruffle the feathers of sportsbook operators in another way. If passed into law, it would repeal a previous statute that allows for promotional play, a primary customer acquisition tool in the industry.<\/p>\n

\u201cRepeals the provision authorizing promotional play and amends the definition of \u2018net gaming proceeds,\u2019\u201d according to the bill.<\/p>\n

The legislation isn’t applicable to Louisiana\u2019s parimutuel industry, including bets made on horseracing and winning wagers.<\/p>\n

Louisiana Tax Proposal Could Surprise Industry<\/h2>\n

Earlier this year, Illinois altered its<\/a> sports wagering tax scheme, moving to a graduated levy system under which the largest operators, such as DraftKings and FanDuel, pay higher taxes than their smaller market share rivals.<\/p>\n

That move resulted in those two gaming companies seeing their tax rates effectively double in that state and stoked speculation in the industry that other states could move to increase sports wagering taxes to boost revenue.<\/p>\n

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The prevailing wisdom was that if any states were to raise sports betting levies over the near term, it would be Michigan or New Jersey — states that lack political commonalities with Louisiana. That could also be a sign the industry, which loathes high taxes, could be caught off-guard by Wilder\u2019s proposal.<\/p>\n<\/div>\n

At this time, it\u2019s not clear if there\u2019s momentum for Wilder\u2019s bill, but it might have one thing on its side. Louisiana has a favorable sports betting geography in that none of the three states with which it shares borders currently permit mobile betting.<\/p>\n

The post Louisiana Pol Proposes Massive Sports Betting Tax Hike<\/a> appeared first on Casino.org<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Sports betting industry observers likely didn\u2019t have Louisiana considering a major tax increase on their 2024 bingo cards, but it\u2019s possible following newly filed legislation. The Caesars Superdome in New Orleans. A Louisiana politician proposed a bill that would raise the state’s sports betting tax […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[10],"tags":[],"_links":{"self":[{"href":"http:\/\/buckinghamshire-removals.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/1287"}],"collection":[{"href":"http:\/\/buckinghamshire-removals.co.uk\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/buckinghamshire-removals.co.uk\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/buckinghamshire-removals.co.uk\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/buckinghamshire-removals.co.uk\/index.php\/wp-json\/wp\/v2\/comments?post=1287"}],"version-history":[{"count":1,"href":"http:\/\/buckinghamshire-removals.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/1287\/revisions"}],"predecessor-version":[{"id":1288,"href":"http:\/\/buckinghamshire-removals.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/1287\/revisions\/1288"}],"wp:attachment":[{"href":"http:\/\/buckinghamshire-removals.co.uk\/index.php\/wp-json\/wp\/v2\/media?parent=1287"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/buckinghamshire-removals.co.uk\/index.php\/wp-json\/wp\/v2\/categories?post=1287"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/buckinghamshire-removals.co.uk\/index.php\/wp-json\/wp\/v2\/tags?post=1287"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}