Kentucky sports betting bill clears first key hurdle
Bill to legalize retail and online wagering advances unanimously out of House committee
Kentucky is one step closer to regulated sports betting, with a bill legalizing online sports betting advancing out of a House committee on March 16.
House Bill 606, which would allow for both retail and mobile sports betting – in addition to online poker and daily fantasy sports (DFS) – cleared the House Licensing, Occupations, & Administrative Regulations committee in unanimous fashion.
The next step for the measure is a full vote on the House floor. However, chief bill sponsor Representative Adam Koenig expressed confidence it will clear that hurdle as well before heading to the Senate.
Koenig, who chairs the licensing committee, has a unique understanding of the challenge at hand after seeing his original sports betting bill go untouched throughout the remainder of the legislative session in 2020, following its progression out of the committee stage.
The key difference in the updated version of the bill pertains to mobile registration, with a provision mandating in-person signup removed.
In terms of the regulatory and tax-related components, each of Kentucky’s harness and race tracks would be permitted to partner with a sports betting operator.
Revenue from retail operations would be taxed at 9.75%, while online revenue would be subject to a 14.25% tax.
Separate bills that also advanced through the committee included one that would set aside $225m for a problem gambling fund, as well as a measure addressing so-called ‘gray machines,’ or slot-type games that have become commonplace in convenience stores throughout Kentucky.
Lawmakers in the Bluegrass State could potentially be more inclined to greenlight sports betting than they were two years ago, as all but two of Kentucky’s seven neighboring states currently have online sportsbooks.