Last updated on March 20th, 2022 at 07:56 am
After years of disappointments, supporters of legal sports wagering rejoiced after the Kentucky sports betting bill cleared a House panel. However, the bill has more obstacles to overcome during the 2022 legislative session.
Similar proposals died in recent years. However, it indicates how divisive gambling is in the state where you can find Churchill Downs. Also, one of the most popular events in the state is the Kentucky Derby.
According to bookie PPH reports, Representative Adam Koenig is the lead sponsor of the Kentucky sports betting bill. He’s hopeful that the result will be different this year. Also, he hopes to have better luck in the future.
Kentucky Sports Betting Bill
The bill got bipartisan support to clear the House committee on the 49th day of the legislative session. However, it still needs approval in the full House and Senate. The House committee approved the gambling bill package that included the sports betting bill.
Other measures that are part of the package include the provision to change the tax rates for parimutuel wagering. The proposal set a 1.5 percent tax on parimutuel wagers, such as simulcast bets, advance-deposit betting, and historical horse racing.
According to bookie pay per head reports, another proposal involved the creation of a fund to assist residents with gambling problems. The program will focus on prevention, awareness, and treatment efforts. Also, the provision will place $225 million into the fund from the 2021 settlement with an online gaming site.
Lastly, it would ban gray machines in the state. Gray machines look like slots and payout cash to winning players.
According to bookie pay per head reviews, 33 states have authorized sports betting. Representative Koenig said that his action would direct an activity that already exists in the state. In addition, massive amounts of dollars are wagered unlawfully on sports consistently in Kentucky.
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