La. Senate Votes On Bill Allowing Taxing Fantasy Sports Betting Revenue

(Getty Images)

(Getty Images)

The Senate is passing along a bill to levy an 8% state tax on the net revenue from fantasy sports contests.

Senator Troy Carter says that many people are supportive of the bill "specifically because they understand the significance of providing resources to early childhood education."

According to reports, when fantasy sports betting was legalized, legislators said that it could not take effect unless it was taxed.

The enactment of this tax is the last step in allowing citizens to bet on fantasy sports.

The bill now heads to Governor John Bel Edwards for a final approval.

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