After several unsuccessful attempts over the past four years, Kentucky lawmakers are renewing their efforts to legalize sports betting and online poker within the state. Representatives Derrick Graham, Cherlynn Stevenson, and Rachel Roberts have introduced House Bill 106, aiming to usher in a new era of online gaming and sports wagering in Kentucky. The proposed bill outlines a comprehensive framework for the regulation of online sports betting, poker, and fantasy sports, signaling a potential shift in the state’s stance on these activities.
House Bill 106: A Comprehensive Approach to Online Gaming:
House Bill 106, sponsored by Representatives Graham, Stevenson, and Roberts, represents a comprehensive legislative initiative to introduce online poker and sports betting in Kentucky. The bill introduces 26 amendments to the existing law and establishes 13 new sections dedicated to online sports wagering, poker, and fantasy sports. Currently under review by the House Committee on Committees, this bill holds the potential to reshape the gaming landscape in the state.
Online Sports Betting: Racing Tracks and Digital Platforms:
The proposed bill offers a dual approach to online sports betting, allowing wagering through authorized racing tracks or online platforms. Racing tracks would have the opportunity to expand their offerings to two additional facilities within a 60-mile radius. A sports wagering license would require a fee of $500,000, along with a $50,000 renewal fee. Notably, a 9.75% tax on revenue from race tracks and a 14.25% tax on online bets would be levied monthly. The bill also identifies a wide range of sports, including NFL, NBA, MLB, PGA, NASCAR, MLS, NCAA, NAIA, and other globally recognized competitions, eligible for wagering.
Legalizing Online Poker and Sports Fantasy Competitions:
House Bill 106 extends beyond sports betting to encompass the legalization of online poker and sports fantasy competitions. Operators seeking an online poker license must demonstrate the effective use of geo-tracking software to ensure compliance with Kentucky’s jurisdiction. A licensing fee of $250,000, coupled with an annual renewal fee of $10,000, is proposed. Additionally, a monthly tax of 6.75% on all fees collected from players, including the rake, is outlined in the bill.
Challenges and Past Endeavors:
The renewed push for online gaming comes after previous efforts faced challenges in the Kentucky state senate. Last year, House Bill 606, sponsored by Rep. Adam Koenig, received approval in the House but encountered resistance in the Senate. Despite gaining traction in the House, the bill failed to secure the necessary support in the Senate, preventing it from advancing to a formal vote.
Kentucky’s House Bill 106 stands as a pivotal development in the state’s pursuit of legalized online poker and sports betting. As legislators deliberate on the bill’s merits, the potential for a regulated online gaming landscape looms on the horizon. The proposed legislation underscores Kentucky’s willingness to adapt to evolving gaming trends while striking a balance between responsible gambling and revenue generation. As stakeholders closely monitor the progress of House Bill 106, its passage could mark a transformative moment for the state’s gaming industry, setting the stage for a new era of online gaming and sports wagering in Kentucky.