Kentucky Files First Sports Betting Bill

Kentucky lawmakers have introduced the first sports betting bill in this US state. The bill aims to legalize not only wagering on sports events but also to legalize online poker and fantasy sports.

The legislation of this southeastern state, bounded by the Ohio River, has huge plans with the potential gambling revenue hoping that it would help some of the state’s facilities.

Legal Betting in Kentucky

The bill, named House Bill 175, was introduced last week by the main sponsor of the bill, Chairman, Adam Koening…

…and filed to the Kentucky House of Representatives.

“It is new and it is taking off in a lot of states. I’d like to see Kentucky be on the front end of this. It is an opportunity for us to provide something that frankly is done in the shadows all over Kentucky with bookies and you can get on your phone and do it on offshore s,” explained Koenig.

Amazing for the Bill

The Kentucky bill, for now, has a great deal of from both parties.

“You would be able to bet on professional sports games and I think we are going to allow NCAA betting but not on Kentucky teams. So that provides some protection for those universities and those kids,” added Koenig.

He also added that this bill is currently receiving more than any other Kentucky bill before.

“People are hungry for it. They don’t understand why they can’t do it legally,” he continued.

Great Revenue Plans

The plan is not only to legalize sports gambling and give the citizens the opportunity to do it without having to go to Las Vegas or visiting illegal bookies…

…but also to generate much-needed revenue.

It is stated in the bill that part of the revenue should cover for gambling addiction facilities, while the other part should Kentucky’s underfunded pension systems.

“It is not going to fix the problem but it can be one of the tools in the toolbox to get us there,” Koenig concluded.

Who Would Operate It?

After the meeting of the House Licensing, Occupations and istrative Regulations Committee scheduled for Wednesday…

…we’ll know if the bill is going to be approved.

If the bill turns into law, the plan is to put the Horse Racing Commission in charge of the sports betting. Also, the state lottery should regulate online poker, while fantasy sports would be run by the Public Protection Cabinet.

Sports Betting in the USA

It was quite a shock back in May of 2018 when the US Supreme Court announced the decision to lift a sports betting ban, in motion since 1992.

The Professional and Amateur Sports Betting Act (PASPA) was overturned…

…and now wagering on sports events is legal in all parts of the United States.

Of course, each state has to vote and it’s up to the lawmakers to decide whether they want to legalize sports gambling under their jurisdiction or not.

Source:

“Sports betting legislation filed in Kentucky House of Representatives”, wsaz.com, February 9, 2019.