- A senator in the state of Kentucky proposes Bill Request 236, moving for regulated sports betting on and off racing tracks
- 25% tax to be imposed on wager receipts, which will strengthen retirement schemes and education
- January next year will ultimately determine the fate of the Bill Request
State Senator of Kentucky, Julian Carroll, moved to prefile new legislation, which would allow the regulated sports betting market to move in on Kentucky.
Views on the Potential Sports Betting Market in Kentucky
The Senator’s request stands to change current Kentucky legislation on gambling. Should the Bill pass the 2020 legislative session, citizens of the state will be able to place legal sports wagers at horse racing tracks, as well as off-track at land-based sportsbooks.
Senator Morgan McGarvey, also a supporter of this notion, acknowledged the fact that the future of gaming lies in mobile devices, so it could be speculated that if the Bill is to pass legislation, it would fight for mobile sportsbooks, as well.
The available details at this point draw out a 25% state tax on wagering revenue, which would be distributed among retirement, Kentucky’s educational fund and the Kentucky Thoroughbred Development Fund.
So far, Kentucky has seen more than one attempt at legalizing sports betting, especially after last years’ overturning of the Professional and Amateur Sports Protection Act of 1992 by the Supreme Court. Senator Carroll himself has attempted to pass such legislation both in 2018 and in 2019’s lawmaking sessions but so far little attention has been spent on the subject. For now, the Bluegrass State remains in wait of its potential sports betting market, while neighboring states have already invested themselves deeply in the industry.
Neighboring States Launching Operations This Year
2019 saw drastic a spike in newly integrated legislation over the matter of regulated sports betting. Kentucky neighbor state Indiana is setting up an official launch on September 1st, when the Tropicana Casino in Evansville will welcome its first sports wagers.
West Virginia also launched a full-blown legislation and started accepting sports bets earlier in August. Illinois and Tennessee are soon to follow.