House committee advances bill to allow fixed-odds wagering on Louisiana horse racing

House lawmakers advanced legislation to allow fixed-odds wagering on horse racing and create a dedicated purse supplemental fund that would allocate a portion of proceeds to support Louisiana racing associations.

House Bill 547, introduced by Representative Boyer, would authorize fixed-odds betting on horse races, set definitions and rulemaking authority, and create a “fixed odds horse wagering purse supplement fund” with specified allocations. Representative Boyer said the change would modernize the state’s racing product and “offer a more competitive product to racing fans” while creating a revenue stream “that will directly support our local racing associations.”

The bill drew testimony from industry participants who argued the state’s racing economy would benefit. Jake Delome, who identified himself as “a third generation Louisiana thoroughbred horse owner and breeder,” said the industry is large and rooted in the state: “We’re a $2,000,000,000 industry to the state of Louisiana,” and “there’s over 5,000 horsemen and horsewomen that participate in the horse industry.” Delome described recent racing success and said fixed-odds wagering would help place Louisiana product on “a national stage.”

Edwin Finasse, executive director of the Louisiana Horsemen’s Benevolent and Protective Association, explained why amendments were shifted to create breeder awards: “What we realized is we need to keep supporting those breeder award programs to incentivize people to breed their horses here in Louisiana,” and the money was reapportioned so “some of the money moved out of what would have been purses and moved into breeder awards.” Committee discussion referenced specific amendment language that changed allocation percentages — amendment 3 reduced one allocation figure from 75 to 55 and amendment 7 inserted a 14% allocation for breeder awards.

The committee adopted amendment set 2,553 (which specifies wagering types, adjusts purse and breeder award distributions, and requires racetrack and horsemen association consent for licensees to accept fixed-odds wagers) and then voted to report HB 547 favorably. Representative Newell moved to adopt the amendment set and to report the bill; there were no objections and both the amendments and the bill were adopted and reported favorably.

The testimony and amendments clarified that the bill would authorize fixed-odds wagers only after licensees obtain the consent specified in the bill language and that the Louisiana Gaming Control Board would have duties for rulemaking and oversight. The committee did not hold a roll-call recorded vote in the transcript; actions were adopted on voice/consent. The bill will proceed as reported from committee.

Because the legislation changes wagering mechanics and allocates revenue to purses and breeder awards, it affects breeders, track operators and bettors; the committee and testifiers repeatedly framed the changes as meant to support the local equine economy and breeding incentives.