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Can you summarize LARS 27.607?
WAGERING > Operators; sports lounge required; responsibilities; pooling
Short Summary
This legal document governs the conduct of sports wagering in Louisiana. It applies to operators who conduct sports wagering either in person, through a sports wagering mechanism located on their premises, or via a website or mobile application. The document outlines the requirements for housing a retail sports book in a sports wagering lounge, including age restrictions, square footage, design, equipment, and security measures. Operators are required to establish and display the odds for placing wagers on sports events and must adopt comprehensive rules approved by the board governing sports wagering transactions. Records of sports wagering activities and operations must be maintained in accordance with board rules and federal anti-money laundering standards. Operators must designate key employees responsible for the operation of the sports book. All wagers on sports events must be initiated, received, and made within the state, unless determined otherwise by the board. Operators may pool wagers with individuals located outside the state under certain conditions. Additionally, the document allows sports wagering licensees to contract with offtrack wagering facilities for racehorse wagering in their sports book lounge, subject to board and Louisiana State Racing Commission approval. Acts 2021, No. 440, 1, eff. July 1, 2021; Acts 2022, No. 530, 2, eff. June 16, 2022.
Whom does it apply to?
Operators conducting sports wagering
What does it govern?
Sports wagering
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
Not specified.
Jurisdiction
Louisiana