The House of Representatives has approved a bill that will legalize mobile and retail sports betting in Kentucky.
Kentucky Sports Betting One Step Closer as House Approves Bill was approved by a vote of 58-30 and has now been sent to the Senate for final approval. If, as expected, the bill garners enough support from senators, it will then go to the desk of State Governor Andy Beshear to be signed into law. There would likely be no issues here as the governor has previously supported gaming expansion in the state.The year’s legislative session ends on April 15th meaning that senators will to discuss the bill and vote on it as soon as possible. However, this will be the first bill of its kind to make it through to the senate and it’s likely that it will first need to go through a committee process before any vote can be held.
The bill in its current form would allow existing Kentucky racetracks to partner with one online sports betting provider to launch a mobile sportsbook app. It would also allow each racetrack to open two retails sportsbooks on its property.
Kentucky Sports Betting One Step Closer as House Approves Bill Kentucky Sports Betting One Step Closer as House Approves Bill Kentucky Sports Betting One Step Closer as House Approves BillHe added that the state could expect to benefit significantly from a regulated market giving a rough estimate as to how much gambling operators will pay in sports betting taxes:
Kentucky Sports Betting One Step Closer as House Approves Bill Kentucky Sports Betting One Step Closer as House Approves Bill.“Being a border community to a state that allows sports wagering, our people are simply driving across the bridge and placing their bets. Which means that tax revenue is collected in Indiana, not Kentucky and used to pave their roads and educate their children.”
The bill, if approved, will set a 9.75% tax rate for online bets and a 14.25% rate on in-person wagers.
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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.