Kentucky sports betting bill passes first committee

A bill to legalize sports betting in Kentucky is headed to floor of the House of Representatives after passing through the Licensing, Occupations, & Administrative Regulations Committee.

The bill – House Bill 137, which was introduced by Adam Koenig – would allow horse racing tracks and the Kentucky Speedway to accept bets on sports. Sports betting would be regulated by the Kentucky Horse Racing Commission and taxed at a rate of 10.25% when carried out in person.

Online betting would also be permitted, though players would need to register in person at a racetrack or the Speedway. Online betting revenue would be taxed at a rate of 14.25%.

Licence fees for sports betting would cost $500,000 initially, plus a $50,000 renewal fee.

Read more on iGB North America.