Louisiana Daily Fantasy Sports Closer After Regulations Set

Louisiana Daily Fantasy Sports Closer After Regulations Set
© USA Today

Approved by Louisiana voters more than two years ago, Daily Fantasy Sports finally has regulations after lawmakers agreed on them this week. DFS play is one step closer in the state.

Louisiana House and Senate committees that oversee gambling in the state unanimously supported the regulations on Wednesday, according to the Associated Press. The Louisiana Gaming Control Board (LGCB) can now begin the process of licensing operators.

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The regulations will govern the 47 of 64 parishes that approved DFS in November 2018. The rest of the DFS process could help guide how the legislature sets sports betting regulations and tax rate.

Lawmakers had set the DFS tax rate and the regulatory process earlier year and Gov. John Bel Edwards in mid July signed a bill establishing an 8% tax rate for DFS.

The more detailed DFS rules were set with the committee votes on Wednesday. Included in the regulations, according to the Associated Press — fantasy sports operators have to be licensed by the LGCB; players have to be 21 or older and register to play; and the teams can’t involve participants in high school or youth sports events.

Though only allowed in the 47 parishes where voters approved it, players can log into online sites if they travel to the parishes that legalized it.

Operators will have extensive audit and reporting requirements, AP reported. DraftKings and FanDuel are the two most-prominent operators.

Will Sports Betting Process Be Quicker?

There is hope in the state that the process to get Louisiana sports betting up and running will be smoother than the DFS process.

In November, 55 parishes out of 64 in Louisiana approved sports betting. The sports wagering question was a simple yes-or-no vote, and now the state legislature, when convenes in April, will have to work out the details of how sports betting will operate in that state, much like it did for DFS.

Some key questions that need to be resolved include whether it will be retail only or also include online wagering where most bettors prefer to place their wagers; what businesses will be licensed to have sports betting; and what will the tax rate be.

Louisiana has land-based and riverboat casinos as well as race tracks.