iDEA News and Articles
News and articles from the Gaming industry
“The introduction of HB22, proposing a staggering tax increase on Louisiana’s sports betting industry, marks a drastic and counterproductive shift in policy. This measure, if passed, will make Louisiana one of the highest-taxed sports betting markets in the country, significantly undermining the competitiveness of legal operators in the state. Such a sharp increase would not only raise costs for operators but ultimately impact consumers, who will bear the brunt through less favorable odds and reduced promotional opportunities.
Louisiana lawmakers have a long, constructive history of working collaboratively with industries to foster growth and benefit state economies without resorting to punitive tax hikes. Many of the state’s political leaders have historically championed economic stimulus through lower taxes on businesses and consumers. HB22, however, is out of alignment with these principles, risking a shift of betting activities back to unregulated and untaxed offshore markets—undermining the very goals of consumer protection and tax revenue generation that regulated sports betting was intended to serve.
If Louisiana seeks to increase revenues, the path forward should be to expand opportunity—not to suffocate a thriving industry that is already generating economic benefits. Legalizing and regulating online gaming would bring an unregulated activity into the fold of consumer protections and complement Louisiana’s established land-based industry, providing a new and substantial revenue stream without additional burdens on businesses or consumers.
We urge Louisiana lawmakers to reject this misguided tax hike and instead pursue policies that stimulate economic opportunity and growth. By supporting a sustainable, consumer-focused sports betting market, Louisiana can continue to derive meaningful value from this industry for years to come.”
For media inquiries or to arrange an interview with iDEA Founder Jeff Ifrah, email media contact John Pappas at jpappas@ideagrowth.org.
iDEA Growth (iDevelopment and Economic Association) is a 501(c)6 association seeking to grow jobs and expand online interactive entertainment business in the United States through advocacy and education. iDEA provides the latest industry news, updates and legislative activity on the expansion of iGaming in the United States and its significant economic benefits. iDEA serves as a resource to the media, elected officials, and the public.
November 12, 2024
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