Kentucky Senator Julian Carroll (D-District 7) refiled an updated version of his sports betting bill on Friday. The bill, which would create the independent Kentucky Gaming Commission, calls for a 25 percent tax on net sports betting revenue as well as allowing the Kentucky Lottery Association and existing horse racing associations to be granted licenses. Any other interested venues may also apply.
The tax rate applies to commercial sportsbooks and vendors, but not the Lottery Association’s license. And the bill would give all the regulatory power, including, it appears, determining what types of events could be bet on and whether mobile/online wagering is permitted, to the new Kentucky Gaming Commission. Unsurprisingly, there is no mention of any sort of fee or royalty benefiting professional sports leagues.
Kentucky lawmakers and stakeholders have had a busy few months studying sports betting, and it’s likely the state will be among the first to seriously consider legalizing sports betting in 2019. Carroll’s bill is likely just one of several that will be filed and considered when the state legislature goes back into session. Carroll, a former Kentucky governor, is a member of the state’s “working group” on sports betting.