Fantasy football has always made numerous fans. Whether a person likes real football or not, fantasy football has always pleased everyone. Sports betting is not an easy play for everyone. With the lifting of the ban and now the legislation making regulatory laws and fixing the tax-rates, operators like DraftKings and FanDuel will be permitted to conduct real-money contests.
Louisiana Daily Fantasy games were expected to be in action this NFL season. Still, its continuous conflicts concerning the rules and regulation have put it on hold for over a year. The regulatory bodies have different opinions on various key aspects. As a result, even after the approval of 47 out of 64 parishes, fantasy sports have not made it to the ground till now. As per the local KSLA 12 news, fantasy football will now launch before the fall NFL season next year.
The Gaming Control Board says that including the latest technologies is a bit complex. Bringing all the technicalities is a bit challenging, including the verification of the player’s age and location. The minimum required age to participate in betting games is twenty-one. As there are still some states that do not permit sports betting in their territory, so conforming to the physical location before permitting them to enter the games is mandatory.
The Louisiana Gaming Control Board (LGCB) is the regulatory body responsible for all the decisions regarding fantasy sports. They decide the rules, regulations, and laws for fantasy sports. LGCB had decided to put 8% tax on every fantasy sports betting, which is nominated for primary education. Gamblers and non-gamblers both agree on it if the money is returning to their state. It is estimated to collect nearly $5M in taxes, which is not a significant amount. Still, Louisiana can give tough competition to its neighboring states.
However, the only thing concerning fantasy football fans is the continuous hold-up in sports fantasy regulations. The Louisiana Gaming Control Board will recommence the legislation procedures in the coming spring season. It will be fascinating to see whether the people of Louisiana or other sports betting operators like DraftKings and FanDuel will be able to pressurize enough to speed up the procedures or not.
Amid the COVID-19 pandemic, the Louisiana Gaming Control Board faced a severe budget loss. Even in a crisis time, the online sports betting industry thrived well in the past few months. These fantasy sports can be the key to resolving that issue for LGCB. Regulating online sports betting can help them to balance their records and bring their budget on track. Fans are hopeful after hearing the news about the legalization of sports betting. They are excited to cast their bets and win real cash in the fall football season. However, with the pace at which things have gone in the past few months, it seems that fantasy fans have to wait a little more before placing their first bet.
