Kentucky panel to review sports betting
Senators and lawmakers from both sides of the aisle included in working group
The Kentucky state legislature has announced plans to form a panel to explore the potential of sports betting in the state.
The nine-member group responded to Kentucky Governor Matt Bevin’s call for the legislature to explore sports betting opportunities with the aim to “draft and file legislation to implement legal sports betting in Kentucky.”
The panel will file two companion bills that “reflect a new revenue stream, estimated to be an additional $5.5m to nearly $26m per year pumped into Kentucky’s coffers.”
The group is comprised of Senators and Representatives from both parties, representing over 20 counties in the state.
Two existing bills concerning sports betting have stuttered through the state legislature over the last year, but after the Supreme Court decision last month the legislature said it is keen to give sports betting legalisation a shot in the arm.
Senate majority leader Damon Thayer recently expressed his support for legalised sports betting in the state saying: “It’s a way that we can bring more money into the state’s coffers to pay for much-needed programs, but it also increases the freedom of our citizens to direct their entertainment dollars where they think they ought to.”
Governor Bevin, who has voiced his opposition to sports betting in the past, said: “Whether this ultimately results in any change for Kentucky is something that will be determined by our legislature and in a future legislative session.”
Kentucky is home to the Kentucky Derby horserace, which is owned and operated by Churchill Downs, who has recently signed a deal to operate sports betting and online gaming at the Golden Nugget Atlantic City, New Jersey.
Churchill Downs CEO Bill Carstanjen recently said “We have the unique opportunity to leverage our knowledge and experience operating the largest legal online horse racing wagering business in the U.S. as we enter the iGaming and sports betting markets.”