Louisiana Betting Tax Rate – What it means for bettors?

Sports and gambling enthusiasts in Louisiana are super-thrilled with the successful launch of online sportsbooks in the state. But along with the excitement of wins and bonuses exists concern of taxes on gambling wins. So if you are wondering how betting would affect the total tax to be paid, you are at the right place.

Offline sports betting was made legal in Louisiana last October. Since then, the operators have been obliged to pay 10% tax on in-person and land-based sports bets. Now, with the legalization of online sportsbooks, operators are taxed at the rate of 15% for mobile betting.

The first report of the Louisiana Gaming Control Board for November shows that the casinos in the state collected $5.68 million on sports betting and paid 10% as tax. Hence, sports betting in all its forms is predicted to provide $30 million annually for the state. A quarter of this amount is reserved for early childhood education, and 10% is allocated to local government.

That’s a great deal of money. But are you wondering how this affects you?

Best Brand

Bet365 Bonus

Bet $5 & Get $150

Get bonus now

Whatever the moment. It’s Never Ordinary at bet365. That’s why if you sign up now you will receive $150 in Bonus Bets Win or Lose when you bet $5! Minimum $10 deposit required. Minimum odds -500 of greater. Bonus Bets wager excluded from returns. New customers only. T&CS, time limits and exclusions apply. GAMBLING PROBLEM? CALL OR TEXT 1-800-GAMBLER (AZ/CO/IL/IN/KS/KY/LA/MD/NC/NJ/OH/PA/TN/VA) or 1-800-BETS OFF (IA). 21+ (18+ KY). Must be present in AZ/CO/IA/IL/IN/KS/KY/LA (select parishes)/MD/NC/NJ/OH/PA/TN/VA.

Best Bonus

BetMGM Bonus

Up To $1500 in Bonus Bets Paid Back if your First Bet Does Not Win

Get bonus now

Gambling problem? Call 1-800-GAMBLER (Available in the US) Call 877-8-HOPENY or text HOPENY (467369) (NY) Call 1-800-327-5050 (MA) 21+ only. Please Gamble Responsibly. Call 1-800-NEXT-STEP (AZ), 1-800-BETS-OFF (IA), 1-800-981-0023 (PR). Rewards are non-withdrawable bonus bets that expire in 7 days. In partnership with Kansas Crossing Casino and Hotel. See BetMGM.com for Terms. US promotional offers not available in DC, Mississippi, New York, Nevada, Ontario, or Puerto Rico.

Newcomer

FanDuel Bonus

Bet $5 Get $150 in Bonus Bets If Your Bet Wins!

Get bonus now

Gambling Problem? Call 1-800-GAMBLER or visit RG Help . Call 1-888-789-7777 or visit Helpline and Chat – CONNECTICUT COUNCIL (CT). Hope is here. Home or call (800) 327-5050 for 24/7 support (MA). Visit Home (MD). Call 1-877-8HOPE-NY or text HOPENY (467369) (NY). 21+ (18+ D.C.) and present in select states (for KS, in affiliation with Kansas Star Casino). First online real money wager only. $5 first deposit required. Bonus issued as nonwithdrawable bonus bets which expire 7 days after receipt. See terms at FanDuel Sportsbook

How taxes on betting affects the bettors?

If you’re wondering if you have to pay any tax for winnings from your sports betting in Louisiana? Yes, currently, there is a flat tax rate fixed at 24%. However, this depends on the games you play and the amount you win.

For casinos, if you win $1200 or more for slot machines and $5000 or more for poker, you are liable to pay 24% tax. In such cases where you win more than the said threshold, the operator would issue a W-2G form and may withhold 24% of the won amount. Online sportsbooks also have a similar tax rule, depending on the amount you bet and win. Accordingly, if your winnings from sportsbooks crosses the threshold of $600, then you are liable to pay taxes on it. The sportsbook also has all rights to withhold 24% of your winnings in these cases.

Whether it is casino or sportsbook, if the operator keeps this 24% tax from your wins, then they should provide you with a W-2G form. You can submit this form along with your income tax return. However, if they do not withhold this 24%, you are responsible for filing gambling winnings in your tax returns.

Is there a way to obtain a tax rebate on betting?

There isn’t much you can do to get a tax rebate on your winnings from gambling. However, you can offset your taxes by leveraging the losses you faced in betting during that year. Hence, keeping a wagering diary to track all your bets, wins, losses, deposits, and withdrawals can help you quite a lot while filing your tax returns.

To conclude, though betting is more of an entertainment activity, since it involves real money, always make sure you research well about any hidden pitfalls. Responsible betting is always the key!

Also, don’t forget to check out the best sportsbook welcome offers including the Caesars LA signup promo and the awesome BetMGM LA welcome bonus, which are currently the top two across the state.

If you have to pay taxes, might as well use the best operators too!

1.

4.6/5

Bet365 Review

Bet $5 & Get $150

Players from Virginia accepted

Bet now

Whatever the moment. It’s Never Ordinary at bet365. That’s why if you sign up now you will receive $150 in Bonus Bets Win or Lose when you bet $5! Minimum $10 deposit required. Minimum odds -500 of greater. Bonus Bets wager excluded from returns. New customers only. T&CS, time limits and exclusions apply. GAMBLING PROBLEM? CALL OR TEXT 1-800-GAMBLER (AZ/CO/IL/IN/KS/KY/LA/MD/NC/NJ/OH/PA/TN/VA) or 1-800-BETS OFF (IA). 21+ (18+ KY). Must be present in AZ/CO/IA/IL/IN/KS/KY/LA (select parishes)/MD/NC/NJ/OH/PA/TN/VA.

2.

4.6/5

BetMGM Review

Up To $1500 in Bonus Bets Paid Back if your First Bet Does Not Win

Players from Virginia accepted

Bet now

Gambling problem? Call 1-800-GAMBLER (Available in the US) Call 877-8-HOPENY or text HOPENY (467369) (NY) Call 1-800-327-5050 (MA) 21+ only. Please Gamble Responsibly. Call 1-800-NEXT-STEP (AZ), 1-800-BETS-OFF (IA), 1-800-981-0023 (PR). Rewards are non-withdrawable bonus bets that expire in 7 days. In partnership with Kansas Crossing Casino and Hotel. See BetMGM.com for Terms. US promotional offers not available in DC, Mississippi, New York, Nevada, Ontario, or Puerto Rico.

3.

4.5/5

FanDuel Review

Bet $5 Get $150 in Bonus Bets If Your Bet Wins!

Players from Virginia accepted

Bet now

Gambling Problem? Call 1-800-GAMBLER or visit RG Help . Call 1-888-789-7777 or visit Helpline and Chat – CONNECTICUT COUNCIL (CT). Hope is here. Home or call (800) 327-5050 for 24/7 support (MA). Visit Home (MD). Call 1-877-8HOPE-NY or text HOPENY (467369) (NY). 21+ (18+ D.C.) and present in select states (for KS, in affiliation with Kansas Star Casino). First online real money wager only. $5 first deposit required. Bonus issued as nonwithdrawable bonus bets which expire 7 days after receipt. See terms at FanDuel Sportsbook

4.

4.5/5

Caesars Review

Bet $1, Double your Winnings on your Next 20 Wagers. Up to $25 Max Bet Per Boost

Players from Virginia accepted

Bet now

21+ New users only. Must register using eligible promo code. First bet after registration must qualify. Max. Bonus Bet: $1,000. Bonus Bet expires 14 days after receipt. Void where prohibited. See Caesars.com/promos for full terms. Gambling Problem? 1-800-GAMBLER (1-800-426-2537)

5.

4.5/5

DraftKings Review

New Customers: Bet $5+ and get $200 in Bonus Bets if it wins!

Players from Virginia accepted

Bet now

GAMBLING PROBLEM? CALL 1-800-GAMBLER, (800) 327-5050 or visit gamblinghelplinema.org (MA). Call 877-8-HOPENY/text HOPENY (467369) (NY). Please Gamble Responsibly. 888-789-7777/visit ccpg.org (CT), or visit www.mdgamblinghelp.org (MD). 21+ and present in most states. (18+ DC/KY/NH/WY). Void in ONT/OR/NH. Eligibility restrictions apply. On behalf of Boot Hill Casino & Resort (KS). Pass-thru of per wager tax may apply in IL. 1 per new customer. Must register new account to receive reward Token. Must select Token BEFORE placing min. $5 bet to receive $200 in Bonus Bets if your bet wins. Min. -500 odds req. Token and Bonus Bets are single-use and non-withdrawable. Token expires 1/11/26. Bonus Bets expire in 7 days (168 hours). Stake removed from payout. Terms: sportsbook.draftkings.com/promos. Ends 1/4/26 at 11:59 PM ET. Sponsored by DK.