The bill cleared the state legislature with overwhelming , ing the House by a 98-0 vote and the Senate by a margin of 36-1. It now awaits approval from Gov. Jeff Landry.
Fixed-odds wagering, by contrast, locks in the odds at the time a bet is placed, similar to standard sports betting. This system has gained popularity in several states and is seen by many as a way to modernise and revitalise interest in US horse racing.
The primary advocate for the bill was Rep. Chad Boyer, who framed the legislation as a competitive response to the growing popularity of fixed-odds betting in other sports.
During a committee hearing in May, he emphasised that fixed-odds betting could offer a more predictable and appealing product for bettors.
Rep. Boyer also highlighted the model’s potential economic benefits, noting that a portion of revenues would be directed toward local racing operations through the creation of a “Fixed Odds Horse Wagering Purse Supplement Fund.”
The proposed fund would receive 5% of the net proceeds from fixed-odds horse race wagers.
These funds would then be reinvested into Louisiana’s horse racing industry, ing prize purses and breeding initiatives aimed at sustaining the sport within the state.
If signed into law, Louisiana would New Jersey, Colorado, and West Virginia, which ed in April, as the only states to permit fixed-odds betting on horse racing.
Churchill Downs threatens licence surrender
The change would allow licensed sportsbooks such as FanDuel and DraftKings to offer fixed-odds horse bets, including for out-of-state races, subject to the of the federal Interstate Horseracing Act.However, for in-state races, sportsbooks would need approval from both the hosting racetrack and the local Horsemen’s Benevolent and Protective Association.
Despite broad legislative and industry backing, the bill has drawn criticism from at least one major stakeholder.
Churchill Downs Inc. (CDI), which owns New Orleans’ Fair Grounds Race Course, expressed concern that fixed-odds betting could siphon wagering revenue away from traditional sources such as racetracks, off-track betting facilities, and advanced deposit wagering platforms.
CDI CEO Bill Carstanjen communicated these concerns in a letter to the Louisiana State Racing Commission (LSRC), according to Thoroughbred Daily News and other media outlets.
Carstanjen warned that the legislation, along with other gambling measures under consideration, could reduce Fair Grounds’ competitiveness.
CDI’s opposition is compounded by a recent Louisiana Supreme Court ruling that invalidated the legal framework for historical horse racing (HHR) machines, which had served as a key revenue stream for the Fair Grounds.
The Louisiana Legislative Fiscal Office acknowledged that the financial impact of fixed-odds horse betting remains uncertain.
In a recent analysis, it stated that the magnitude of revenues generated by the new betting format would depend heavily on adoption rates among racetracks, sportsbooks, and gambling applications.
In light of HB 547’s overwhelming approval, CDI has reportedly begun preparing to voluntarily surrender its racing licence at Fair Grounds, as well as its video poker and slot machine permits in Louisiana.
Local media outlet NOLA.com reported that LSRC executive director Stephen Landry confirmed he had seen the CDI letter. However, he suggested it wouldn’t be discussed until the LSRC’s next meeting, the date of which is still pending.
