House Bill No. by Representative Wilder proposes significant changes to the taxation of sports wagering in Louisiana. The bill amends the definition of "net gaming proceeds" by removing references to promotional play, which is also repealed entirely. This change clarifies that "net gaming proceeds" will now only account for the total gross revenue of wagers minus winnings paid out, excluding any promotional play deductions.

Additionally, the bill increases the tax rate on net gaming proceeds from 15% to 51% for electronic sports wagering conducted through websites and mobile applications. This substantial increase aims to enhance state revenue from sports wagering activities while eliminating the previous provisions that allowed for promotional play. Overall, the bill seeks to streamline the taxation framework for sports wagering in Louisiana.

Statutes affected:
HB22 Original: 27:602(13), 27:625(B)