Bill Unveiled to Legalize Sports Betting in Kentucky
Advocates of regulating sports betting in Kentucky are considering another attempt of passing the recently proposed bill, by combining it with a slew of betting-related legislation. Previous sports wagering measures failed in prior sessions, demonstrating the polarisation of gambling concerns in Kentucky. This has been a contentious debate in many states considering similar bills.
What would legalizing sports betting mean for the state? Recent bill advocates predicted that allowing sports betting would produce around $22 million in annual income. A planned restriction on “grey machines,” which resemble slot machines and award cash bonuses to winners, is also included in the proposed package. The devices have spread throughout the state’s supermarkets and convenience stores. The law, which was presented at the beginning of March, seeks to legalize the majority of sports betting types and to control the taxes of all online betting, notably fantasy sports.
Republican representative, Adam Koenig has supported the bill stating that legalizing sports betting could “take it away from the bookies and the off-shore accounts.” Koenig stated that he aims to unite the many suggestions into a single comprehensive bill. However, if that plan fails, he has stated that he will strive to pass as many of the individual ideas as possible.
Kentucky is practically encircled by states that have allowed sports betting. Since the Supreme Court repealed the Professional and Amateur Sports Protection Act (PASPA), six of the seven states around it have authorized sports betting. The bill is currently awaiting a committee hearing this week, so we could see some progress sooner rather than later.