House Bill 241 is similar to House Bill 137, filed by Koenig in the 2020 legislative session, in that its core aim is to legalise online sports wagering, but the new legislation also sets out proposals to regulate online poker and fantasy sports.
Currently with Kentucky’s House of Representatives’ Committee on Committees, the bill is being sponsored by a total of 17 Representatives, including Koenig.
The sports betting aspect of the bill would permit wagering online, mobile and at approved sports venues in the state, with consumers able to bet on professional and collegiate contests.
If passed into law, the bill would name the Kentucky Horse Racing Commission as an independent agency to regulate the conduct of horse racing, pari-mutuel wagering on horse racing and sports betting in the state.
In terms of fees, sports betting licences would cost an initial $500,000, plus an annual renewal fee of $50,000, with the Commission to oversee the licensing process.