State representative files bill that would legalize sports betting in Kentucky

FRANKFORT, Ky. (LEX 18) — State lawmakers are making another attempt to legalize sports betting in Kentucky.

Representative Michael Meredith (R-Oakland) filed House Bill 551 which would legalize wagering on sporting events.

The bill would legalize gambling on live sporting events and Kentuckians would have similar access to online betting accounts as those in nearby states. Rep. Meredith says the bill would not legalize online poker or fantasy sports which he believes will give it a better chance of becoming law.

HB 551 would require online gaming providers to associate with a Kentucky horseracing track. The Kentucky Horse Racing Commission would have regulatory responsibilities over the gaming providers.

Sports gambling could be done through a licensed facility or online through a website or app.

All revenue would go to a newly created sports wagering administrative fund. The fund would provide costs for licensing and regulation.

The proposal would set initial license fees at $500,000 for tracks and $50,000 for gaming providers. Annual renewal costs would be $50,000 for tracks and $10,000 for gaming providers.

The bill would allow gambling on professional and college sports, international sports, e-sports, and video game events. The minimum age requirement would be 18 years old.

For more information, visit legislature.ky.gov.