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New Kentucky Sports Betting Bill Advances in Legislature
15th January, 23:27A Kentucky House Bill that would legalize betting on in-state universities, such as UK and Louisville is closer to becoming law.
House Bill 137, which would legalize sports betting at horse tracks and at Kentucky Speedway, amended with in-state university betting was unanimously approved by a House Committee on Wednesday.
The bill would raise an estimated $22.5 million in tax revenue for the state which is looking for help to pay the demands of a tight budget. Other sports betting bills have met a dead end due to complaints of not being able to bet on Kentucky's college sports teams.
In order to bet now, people either have to bet in person at racetracks or at Kentucky Speedway, or go to the race tracks and download an app that would allow them to bet from home. The amended sports betting bill would end the requirement to download an app at racetracks by January 1, 2022, which will help to create competition in an industry that is already tied to Kentucky's gambling institutions.
Both the University of Kentucky and the University of Louisville have stated they will remain neutral on the amended bill because their priority is to protect the best interests of their students.
Those against the bill argue expanded sports betting would require a constitutional amendment that Kentuckians would vote on.