Kentucky Senate Advances Bill to Legalize Sports Betting
The Kentucky Senate Licensing and Occupations Committee voted 9-1 to pass HB 551, a bill that could legalize sports betting in the state
Kentucky is on the brink of legalizing sports betting, as the state Senate Licensing and Occupations Committee passed HB 551 to the chamber floor by a vote of 9-1.
The bill would allow in-person sportsbooks at the nine horse-racing tracks in Kentucky, which could partner with up to three online sportsbooks each.
Proponents of the bill need to convince two to three more senators to back it, with the state imposing a 9.75% tax on in-person sports betting revenue and 14.25% on online wagering.
If passed, sports betting would bring the state nearly $23 million annually in taxes.