re: Louisiana Fantasy Sports Bill

quote:

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I would have voted against it to. And i'm pro-sports betting. The issue, for me, was the ridiculous 15% tax rate. Why do we treat industries differently? Everyone should be on a level playing field and the government doesn't deserve more taxes because it's considered a vice.

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I think you misinterpreted this.

The 15% tax (it was actually bumped up to 18.5% in the final bill) would be a tax on the Fantasy Sports administrators, on the fees that they charge Louisiana residents for playing their game. Essentially, the money that a national business is taking OUT of the state. The Tax of 18.5% would keep a portion of it in the state for allowing them to come in and have access to our pool of money.

I believe the casinos have to pay something similar, so this was put in so the competition for our gambling dollars is on an even playing field, I guess. As if we're all sitting at home thinking "Hmmm, will I open up this fantasy sports app and get additional entertainment while I watch the ballgames tonight or will I just go to the casino instead?"