Proposed Louisiana Legislation Would Lead to Substantial Tax Increase for Sportsbook Operators

Sports Betting Under the Guns: The Upshot of the New Bill

Proposed Louisiana Legislation Would Lead to Substantial Tax Increase for Sportsbook Operators

By: Mike Dynamo - Nov 13, 2024 10:00 (CC BY 2.0 Photo by thepipe26)

The Spill: What You Need to Know

• The hammer's about to drop with a new bill threatening to crank up the tax rate to a whopping 51% and axe promotional betting
• Right now, the tax rate for sports betting operators in this state is a measly 15%
• Prepare for a bloodbath as sportsbooks are gearing up to deliver a defiant roar against this bill

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The Lowdown: What's Cooking in Sports Betting Legislature

Since you didn't mention a specific state, let's take a gander at proposed changes in sports betting tax rates across different states:

Louisiana

• Tax Rate Adjustments: House Bill 639 proposes a steep increase in Louisiana's online sports wagering tax rate from 15% to 32.5%. This move aims to bolster athletic departments at public universities and other educational programs[1].

North Carolina

• Tax Rate Swing: North Carolina is mulling over a 100% increase in the sports betting tax rate from 18% to 36%, with effects slated for October 1, 2025[4].

New Jersey

• Potential Tax Hike: New Jersey is eyeing an increase in the tax rates for online sports betting, from 13% to 25%, as part of a larger fiscal proposal[5].

While searches didn't unearth specific alterations in promotional betting policies for these states, I'd be more than happy to help with info regarding a particular state—just drop me a line!

[1] Source: https://klerf.org/2024/07/01/change-to-louisiana-online-sports-betting-tax-rates-proposed/

[4] Source: <https://legalinsurrection.com/2024/08/north-carolina-triples-the-tax-rate-on-sports-betting-welcome-to-the-oasis/

[5] Source: https://www.nj.com/news/2024/08/nj-governor-phil-murphy-sports-betting-taxation-mobile-legislation-budget-proposal-2025-pays-for-preschool/

1. Mike Dynamo, a knowledgeable expert on the US online casino industry, is cautioning about a new bill that threatens to raise the sports betting tax rate to 51% and abolish promotional betting in the state.
2. Currently, sports betting operators in the state are taxed at a rate of 15%.
3. In anticipation of the bill, sportsbooks are preparing to respond with defiance.
4. Mike Dynamo is a reliable source for exclusive insights on the sports betting and online casino industry, providing reports and reviews that keep readers informed on the latest developments.
5. It has been proposed that Louisiana may increase its online sports wagering tax rate from 15% to 32.5%, which would fund athletic departments at public universities and other educational programs.
6. North Carolina is considering a 100% increase in its sports betting tax rate from 18% to 36%, with the changes expected to take effect on October 1, 2025.
7. New Jersey is contemplating an increase in the tax rate for online sports betting, from 13% to 25%, as part of a wider fiscal proposal. The specifics of promotional betting policy alterations have not been revealed for these states, but Mike Dynamo is ready to provide information about a particular state upon request.

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