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

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1 year ago

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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%.


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