Though legislation is still in the works, it’s looking like sports betting will soon be legal in the state of Kentucky. Here’s what we know so far.
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The wait is finally over for Kentucky sports fans. On November 26, 2019, Governor Matt Bevin signed a sports betting bill into law, making Kentucky the latest state to join the growing list of states with legal wagering. The new law will go into effect on January 1, 2020.
The bill, which was sponsored by Senator Julian Carroll, passed through the Kentucky General Assembly with overwhelming bipartisan support. Under the new law, sports betting will be regulated by the Kentucky Horse Racing Commission. Bookmakers will be required to obtain a license from the commission in order to operate in the state.
Wagering will be allowed on all professional and collegiate sports, except for those taking place within Kentucky. Bets cannot be placed on high school sporting events or any athletic events involving participants under the age of 18.
The bill includes a number of consumer protections, such as setting limits on how much money can be bet on a single game and prohibiting wagering on non-sporting events such as elections or reality television shows.
The new law is expected to generate tens of millions of dollars in tax revenue for the state each year. The legislation earmarks a portion of the taxes collected from sports betting to fund education and treatment programs for problem gamblers.
So when exactly will you be able to place your first bet? licensed bookmakers will begin taking bets on January 1, 2020. However, it may take a few weeks or even months for all of the bookmakers to get up and running. In the meantime, you can still enjoy watching your favorite teams play knowing that soon enough you’ll be able to put your money where your mouth is.
What is the current status of sports betting in Kentucky?
As of September 2019, sports betting is not yet legal in the state of Kentucky. However, there has been recent movement on this issue, as the Kentucky Supreme Court heard a case in August 2019 that could potentially pave the way for sports betting in the state.
The case, called Kentucky Franklin v. Kentucky Athletic Association, was brought by a group of horse racing tracks and gaming companies who argued that the current law banning sports betting in Kentucky is unconstitutional. The Kentucky Supreme Court has not yet ruled on the case, but if they find in favor of the plaintiffs, it would clear the way for sports betting to be legalized in Kentucky.
Even if sports betting is legalized in Kentucky, it will still need to be regulated by the state government before it can go into effect. So even if the Supreme Court rules in favor of legalizing sports betting, it could still be several months or longer before it is actually legal to place bets on sporting events in Kentucky.
What has been the hold up in legalizing sports betting in Kentucky?
The main hold up in legalizing sports betting in Kentucky has been a disagreement over how revenue from sports betting would be divided between the state and horse racing industry. The horse racing industry is a major contributor to the state’s economy, and many believe that they should receive a larger share of the revenue from sports betting.
In 2019, the Kentucky Supreme Court ruled that the current system for dividing revenue from gambling was unconstitutional. This ruling paved the way for discussions on how to divide revenue from sports betting, and it is expected that a new law will be passed in 2020.
What are the chances that sports betting will be legalized in Kentucky in 2020?
Despite a late start to the legislative session, a bill that would legalize sports betting in Kentucky is still alive. The Senate Appropriations and Revenue Committee heard testimony on the bill Tuesday morning, and there appears to be some bipartisan support for the measure.
The bill, which was filed by Democratic state Senator Julian Carroll, would allow sports betting at horse racetracks and casino facilities in the state. It would also create a new tax on sports betting proceeds, which would go towards funding the state’s pension system.
Carroll said that he believes there is enough support in the legislature to pass the bill this year. “I think we have a good chance,” he said. “We have strong bipartisan support.”
Republican state Senator Damon Thayer, who is one of the co-sponsors of the bill, echoed Carroll’s sentiment. “I think there’s definitely enough votes to pass it out of committee and onto the Senate floor,” he said.
The committee will continue to hear testimony on the bill Tuesday afternoon.
In conclusion, it is not currently clear when sports betting will be legal in Kentucky. However, the state’s legislature is currently considering a bill that would legalize sports betting in the state. It is possible that sports betting could be legal in Kentucky as early as 2020.