Kentucky betting bill passes first hurdle
House committee voted unanimously in favor of new bill which allows betting on local college sports
The Kentucky House committee for Licensing, Occupations and Administrative Regulations has greenlit a betting bill that would give regulatory power to the Kentucky Horse Racing Commission.
The bill, presented by Rep Adam Koenig, permits betting via mobile apps, at local racetracks and in professional sports stadiums with a capacity of over 50,000.
Initial licenses would cost $500,000 with a $50,000 annual renewal fee.
A 10% tax rate would be put in place for retail betting licenses, while online operators will be required to pay 14.25% of revenues.
The bill passed through the committee during last year’s legislative session but never reached the House floor.
However, this 2020 proposal features amendments which restrict betting licenses to a single skin and allow for wagers on in-state college sports.
It was great to have a unanimous vote in committee. However we need everyone (not kidding, actually do it) to call 800-372-7181 and let their Representative and Senator know they #SupportHB137 https://t.co/lUZKHvMREw
— Adam Koenig (@repkoenig) January 15, 2020
Permitting online poker in the state will also be up for discussion once the bill hits the House.
Koenig said: “It was great to have a unanimous vote in committee.”
Koenig also called on betting enthusiasts to express support for the bill to their local representative and senator.