Connect with us

Legislation

The sports betting bill was signed into law by the governor of Kentucky after receiving approval from the Senate

Published

2 years ago

on


In February, Michael Meredith introduced the bill which has now been signed into law as HB551.

Governor Andy Beshear signed House Bill 551 into law on Friday, legalizing sports betting in Kentucky after it received approval from the state Senate. The bill was introduced in February by representative Michael Meredith and allows for retail and online betting on professional and college sports, international sports, e-sports, and video game events. The market will be regulated by the Kentucky Horse Racing Commission and the minimum age for betting will be 18.

Under HB 551, the nine horse racing tracks in Kentucky will be eligible for sports betting licenses, with the ability to open in-person sportsbooks and partner with up to three online sports betting operators. Initial license fees will be set at $500,000 for tracks and $50,000 for gaming providers. In-person sports betting revenue will be taxed at 9.75%, while online revenue will be taxed at 14.25%.


Related Topics:

Jerome, a valuable addition to the Gamingo.News team, brings with him extensive journalistic experience in the iGaming sector. His interest in the industry was sparked during his college years when he participated in local poker tournaments, eventually leading to his exposure to the burgeoning world of online poker and casino rooms. Jerome now utilizes his accumulated knowledge to fuel his passion for journalism, providing the team with the latest online scoops.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Gamingo.News stands as a premier digital destination dedicated to delivering top-tier news and insights in the gaming and gambling industry. This specialized media outlet garners the attention of over 120,000 readers each month, providing them with engaging content, current news, and in-depth analyses.
The platform offers extensive coverage of various facets of the gaming world, including both online and brick-and-mortar gaming, wagering, esports, updates on regulations and compliance, as well as technological innovations. Regular content includes daily news stories, press releases, unique interviews, and comprehensive reports on events.
Moreover, Gamingo.News organizes webinars pertinent to the industry and offers detailed reports, establishing itself as a comprehensive information source for those interested in learning about gaming market operators, suppliers, regulators, and professional services. The portal's main objective is to keep its large audience informed about the latest news, trends, and developments in the gaming and gambling sectors. It focuses particularly on the European igaming market but also covers significant global news, proving to be an invaluable tool for gaming professionals, operators, and enthusiasts.

For inquiries, reach out at: sales@gamingo.news

For editorial or PR submissions, contact: media@gamingo.news

Copyright © 2024 Gamingo.News.