Monies in this fund are distributed amongst schools and care facilities within the state as the State Board of Education sees fit. Louisiana Early Childhood Education Fund: This fund serves as the funding for early childhood education and secondary education. 435 details exactly how tax revenue from sports betting will benefit the state: Amountīehavioral Health & Wellness Fund: Monies in the fund are utilized to support and invest in intensive and comprehensive treatment facilities for individuals with compulsive and problem gambling addictions. Online betting will increase handle and revenue, but where will the money go?Īct No. Louisiana State Police’s Gaming Enforcement Division reported a total of $5.7 million in revenue from sports bets placed at these locations in November, resulting in a tax revenue of $568,000 for the state. Sports betting was legalized in the summer of 2021, and those visiting land-based casinos started placing wagers on Oct.

Not quite as low as Nevada’s 6.5% tax rate, but nowhere near New York’s monster tax rate of 51%. The current tax rates that sportsbook operators pay on their revenues is set at 10% for bets placed at retail locations, and 15% for bets placed online or through a mobile device, thanks to House Bill 697.

As anticipation for the rollout of online sports betting in Louisiana builds, so does the revenue that retail books are bringing in. In the past few months, brick-and-mortar sportsbooks have launched across their state. With one of the lower tax rates on sports betting in America, a competitive marketplace is developing in Louisiana.

Louisiana tax rate on casinos