In June 2021, the legislature
established rules for both retail and online sports betting in the 55 Louisiana parishes that had
voted to allow sports betting. In the same month Governor John Bel Edwards signed
House Bill 697, which sets out tax rates plus other licensing measures for the industry and signed SB 247 and SB 142 which covers the
regulatory aspect of sports betting and how gambling
revenue is to be distributed across the state.
IGRA prevented the state and tribe from entering into a sports betting compact. “Altogether, over a dozen provisions in IGRA regulate gaming on ‘Indian lands,’ and none regulate gaming in another location,” she wrote. “It is equally clear that the (Interior Department) secretary must reject compacts that violate IGRA’s terms.” Te Department of Justice is appealing the ruling
LOUISIANA
In 2020 lawmakers approved a proposal that called for sports betting authorisation to appear in a November ballot. Te measure left it up to voters in each parish to decide whether they wanted to give sports betting the green light. In June 2021, the legislature approved legislation establishing rules for both retail and online sports betting in the 55 Louisiana parishes that had voted to allow sports betting, soon afterwards. In the same month Governor John Bel Edwards signed House Bill 697 which sets out tax rates plus other licensing measures for the industry and then shortly afterwards signed SB 247 and SB 142 which covers the regulatory aspect of sports betting and how gambling revenue is to be distributed across the state. Sportsbooks pay 10 per cent tax on
P38 WIRE / PULSE / INSIGHT / REPORTS
retail revenue, and 15 per cent tax on mobile revenue. Overall, the newly regulated sports betting market is expected to generate $30m in new tax revenue per year.
State officials authorised six online sports betting platforms – Barstool Sportsbook, BetMGM, BetRivers, Caesars Sportsbook, DraftKings Sportsbook and FanDuel Sportsbook – and they went live on January 28. Louisiana’s 13 retail sportsbooks accepted more than $49m in wagers in January. Mobile sportsbook operators accepted $40.5m in wagers in their first four days of operations. Tis was actually a loss of $9m after accounting for $11.7m in non taxed promotional spending. Louisiana’s sports betting laws allow sportsbooks to deduct up to $5m in promotional spending per year.
ARIZONA
In April 2021, Governor Ducey signed amended tribal-state gaming compact H.B. 2772, which legalised sports betting in casinos, sports venues and online as well as fantasy sports. It allowed for ten licences to offer sports betting to professional sports teams and franchises as well as ten licences that will allow tribes to offer off- reservation event wagering through mobile offerings.
Te modernised compact continues requirements for tribes to contribute a share of their net win
from Class III gaming to pay for regulatory costs in exchange for substantial exclusivity with exceptions for sports betting, fantasy sports and Keno. Te compact also specifies the number and location of authorised gaming facilities, including limitations, and it specifies the number and location of where and when the new facilities can be opened and operated.
Arizona’s first sports betting
In March 2022 ,The Arizona Department of Gaming released the event wagering and fantasy sports revenue reports for December. During the month, Arizona had nearly half a billion in total wagers, further displaying a strong market in the state. Arizona
operators accepted over $499m in wagers during the month of December.
opened for business ahead of the start of the NFL season in September 2021, with live wagers being taken on college and professional sports online and at two retail locations in Phoenix. Since then sports betting has proven hugely popular in the state. Te Cardinals will become the first NFL team to have on-site sports betting having signed an agreement with BetMGM and the construction of a new two story sportsbook is now underway. Te law means that every professional venue in Arizona will have a sportsbook.
In March 2022 ,Te Arizona Department of Gaming released the event wagering and fantasy sports revenue reports for the month of December. During the month, Arizona had nearly half a billion in total wagers, further displaying a strong market in the state. Arizona operators accepted over $499m in wagers during the month of December. December’s handle topped October’s $486.1m, the state’s previous record. Bettors averaged $16.1m per day over the 31 days of December, up from $15.6m in wagers per day in November. Trough four months, Arizona’s sportsbooks generated $1.7bn in wagering, $161.1m in gross revenue and $6m in privilege fees for the state. Online sportsbooks generated $494.5m in wagers, or 99.1 per cent of the state's handle in December. Retail sportsbooks took in the state’s remaining $4.7m in bets.
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