Legalized sports betting in Kentucky may have taken a step towards legalization this week, with a new bill unveiled to the state’s lawmakers. The proposed bill works to legalize both retail and online sports betting, while regulating the tax income of sportsbooks.
One supporter, Republican Representative Adam Koenig, said that a legalized sports betting market is key to allowing the state's residents to "do what they would like to do with their own money.”
Those in favor of this bill have argued that a regulated sports betting market in the Bluegrass State could raise an estimated $22m in yearly revenue. Moreover, many have suggested that Kentucky residents are already betting, in both neighboring states and offshore accounts.
Another key feature of the proposal is a ban on gray machines, a gaming appliance that has become somewhat prominent throughout Kentucky’s convenience stores.
This is not the first time that sports betting has been discussed by the state’s lawmakers. Indeed, a number of similar measures have failed in their early stages. This offering, however, is said to combine the positive aspects of these unsuccessful bills.
It is no surprise that many in the Bluegrass State wish to get the ball rolling on a legalized sports betting market, with the activity setting the US gaming scene ablaze in recent years. Indeed, despite often being bedeviled by illegal gambling operators, this year’s Super Bowl saw the country rake in record numbers.
Should this bill pass a vote in the House it will then move on to the Senate.
