Kentucky governor signs sports betting bill into law after Senate approval
HB551 has been signed into law.
US.- A bill to legalise sports betting in Kentucky has become law after being signed by governor Andy Beshear on Friday following approval by the state Senate. House Bill 551 was introduced by representative Michael Meredith in February.
The legislation will allow retail and online betting on professional and college sports, international sports, e-sports, and video game events. The minimum age will be 18 and the market will be regulated by the Kentucky Horse Racing Commission.
HB 551 will allow sports betting licences for the nine horse racing tracks in Kentucky. The tracks will be able to open in-person sportsbooks and partner with up to three online sports betting operators. The proposal will set initial licence fees at $500,000 for tracks and $50,000 for gaming providers.
The bill will tax in-person sports betting revenue at 9.75 per cent and online revenue at 14.25 per cent.
