House Bill No. 547, introduced by Representative Boyer, seeks to authorize fixed odds wagering on horse races in Louisiana. The bill amends existing laws to define "fixed odds wagering on horse races" as the acceptance of sports wagers on live or simulcast horse races with predetermined odds. It establishes the Fixed Odds Horse Wagering Purse Supplement Fund, which will receive five percent of the net gaming proceeds from fixed odds wagers. The allocation of funds from this supplement will be divided, with 70% directed to thoroughbred racing and 30% to quarter horse racing for purse supplements.

Additionally, the bill outlines the responsibilities of the Louisiana Gaming Control Board in regulating this new form of wagering and sets forth guidelines for its implementation. It includes provisions to ensure that fixed odds wagering is conducted in compliance with specific regulations and prohibits certain individuals, such as jockeys and racing officials, from placing wagers on events in which they are participating. The bill will take effect upon the governor's signature or after the designated period for gubernatorial action.

Statutes affected:
HB547 Original: 4:149(A), 27:44(22), 27:205(30), 27:602, 27:625(G)(4)