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Sports wagering bill discussed in Kentucky

February 14, 2019

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A Kentucky House Committee has begun discussing a proposed bill that would allow sports wagering at horse racetracks or the Kentucky Speedway in northern part of the state, or with an online app which they registered in person to prove their identities and were of age.
The bill would place a tax of 10.25 percent for wagers made in person and 14.25 percent for wagers made on mobile phones. The state would be required to spend a portion of the tax money on regulating sports wagering, with the rest going toward the pension systems, which are currently approximately $39 billion short of the money required to pay the benefits over the next three decades, according to reports.
The bill, proposed by Republican state Rep. Adam Koenig, would place regulatory oversight to the Kentucky Horse Racing Commission. The bill would also allow online poker, which would be overseen by the Kentucky Lottery Corp., and fantasy sports contests, which would be overseen by the Kentucky Public Protection Cabinet.
The bill proposed by Koenig currently does not allow wagering on any collegiate sporting event, but the representative said he plans on revising that stipulation to only preclude wagering on any event involving Kentucky teams.
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