At the onset of this year’s football season, the US state of Louisiana may conduct officially approved fantasy sports betting. The sports betting company, FanDuel along with the State police of Louisiana, has come together to make this possible. This positive response will facilitate secure Fantasy sports competitions.
In the lead-up to this major decision, 47 parishes had voted and expressed their support for betting on fantasy sports back in 2018. Due to this, daily fantasy games were authorized, allowing gamers on various platforms to compete for prize money. For this, the operators initiating it would have to shed out an 8% tax out of their generated revenue.
In opposition to this enthusiasm, 17 parishes had not voted in support of betting on fantasy sports and now can not compete inside parish lines. Due to the lack of support from these selected 17 parishes, they will be blocked from participating in any game through the process of geofencing.
In this referendum, the sports betting company out of New York, FanDuel, and other like-minded entities invested $1 million towards the ballot supporters of fantasy sports betting from the political action council.
Currently, nine bills concerning sports betting are up for a verdict by the courts. The verdict will reach a final decision this June 2021.
According to Louisiana’s State Senate, fantasy sports betting on mobile devices can make a tax revenue of $10 million to $20 million annually.
This supported mission for the gaming community is a definite step towards the expansion of the gambling industry in Louisiana as it houses racinos, riverboat casinos, and a casino on land out of New Orleans.
Back in 2020, the state of Louisiana was amongst the seven states in the United States that didn’t approve of betting on fantasy gaming. This authorization for gambling on fantasy sports is a positive move for the state of Louisiana.