Kentucky representative Michael Meredith has filed HB 551 that, if passed, would permit both retail and mobile sports betting to launch in the state.
Under the proposed bill, locals would be able to wager on sports at retail sportsbooks and through online betting platforms. The bill allows for betting on professional and college sports, international sports, e-sports, and video games. The minimum age requirement for participation would be 18 years old, and the Kentucky Horse Racing Commission would regulate the market. The bill would also establish initial license fees of $500,000 for tracks and $50,000 for gaming providers.
Last month, representatives Derrick Graham, Cherlynn Stevenson and Rachel Roberts filed a similar bill , HB 106, which would allow online poker and sports betting in the state. However, HB 551 does not make provisions for online poker or fantasy sports. Bill sponsor Michael Meredith believes that the omission of online poker will give his bill a better chance of passing through the House and Senate.
Meredith said of his bill:
“This is about regulating something we already have in the state. If you look, the estimates are that there’s about $1bn each year in Kentucky illegally and unregulated. This bill will bring that into our regulated space, and it will also allow us to take advantage of the revenue that’s being derived in all of our border states right now.”
The Kentucky state senate’s legislative session closed in 2022 without no formal decision on sports betting legislation. In March, the 100-member House approved House Bill 606, sponsored by Rep. Adam Koenig, with a 58-30 vote. However, the bill met with opposition in the Senate.
That bill would have allowed Kentucky’s licensed horse tracks to partner with mobile sports betting operators.
Similar efforts to legalize sports betting in Kentucky have failed in the four previous years.
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An experienced iGaming commentator and analyst based in New York City - Jenny reports on regulation and gambling industry news and events.