Sports betting could soon be legal in Kentucky

Proposed bill would permit statewide sports wagering

FRANKLIN, Ky. -State lawmakers in Kentucky are taking another shot at legalizing sports betting.  Republican Representative Michael Meredith recently introduced House Bill 551 which, if it passes the House as Meredith expects, soon, Kentuckians 18+ could legally engage in sports betting through licensed facilities or online with websites or apps.

Under HB 551, online gaming providers would need to partner with a horseracing track in Kentucky. The Kentucky Horse Racing Commission would be responsible for regulating and overseeing these gaming providers.

Meredith explained, “Around 60 percent of Kentuckians, if you look at the polls, want sports wagering legalized in Kentucky. We think based on the estimates that we’ve seen that there’s probably close to $1 billion wagered on sports each year by Kentuckians.”

Meredith tells News 40 the revenue would support a newly created sports wagering administration fund, and it would also support Kentuckian’s pensions.

“Some will look at this as an expansion of gambling. I don’t personally really see it that way,” said Meredith. “I see it as regulating and taxing activity that’s already existing to make sure that it’s a safe activity for the people of the Commonwealth to take part in.”

Both The Mint Gaming Hall at Kentucky Downs and The Kentucky HBPA say this bill could create unrivaled economic opportunities.

“Similar to Las Vegas, where you have race and sportsbooks, we’d be able to have both,” said Mint Gaming Hall Director of Marketing John Wholihan. “Sports is another add-on because you may not be a steak-house person, but you’ll come in and you’ll do a little sports betting.”

Kentucky HBPA Executive Director Joe Clabes agreed, “It’s well overdue. We’re surrounded by sports-wagering states. Our folks and Kentucky citizens are finding ways to wager on sports when they can. There’s just no reason to add an additional hurdle when we do have the regulatory capacity and the facilities to accommodate that market here within Kentucky and keep those tax dollars at home.”

Rep. Meredith made the decision to exclude online poker and fantasy sports from the legislation, hoping this decision improves its chances of passing through the legislature.