{"id":87879,"date":"2018-09-11T16:30:19","date_gmt":"2018-09-11T23:30:19","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=87879"},"modified":"2018-09-11T16:27:32","modified_gmt":"2018-09-11T23:27:32","slug":"kentucky-legislators-prep-for-sports-betting-governors-stance-unknown","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/kentucky-legislators-prep-for-sports-betting-governors-stance-unknown\/","title":{"rendered":"Kentucky Legislature Preparing to Regulate Sports Betting, Governor’s Stance Still a Mystery"},"content":{"rendered":"

A Kentucky State Senator is optimistic that the state legislature will approve legalized sports gambling during the upcoming 2019 legislative session, and went a step further, saying the Bluegrass State should be one of the states leading the way.<\/p>\n

\"\"
Kentucky State Sen. Julian Carroll introduced BR29 for Kentucky’s 2019 legislative session to create a legalized sports betting market within the state. (Photo: Jonathan Palmer\/Louisville-Courier Journal)<\/figcaption><\/figure>\n

Speaking recently, Kentucky Senate Majority Leader Damon Thayer said, \u201cI don\u2019t want us to be one of the last states to pass sports wagering. I want us to be one of the first 10 states to pass sports wagering, and I want it to support the horse industry.\u201d<\/p>\n

Thayer made the comments at the Sports Wagering and Impact on Horse Racing Symposium last week in Kentucky. His vision appears to be one that is shared on both sides of Kentucky\u2019s legislative aisle, but he wasn\u2019t as confident when asked about Gov. Matt Bevin\u2019s stance on the issue.<\/p>\n

According to Blood Horse magazine, Thayer hasn\u2019t asked Bevin, also a Republican, outright if he would support the bill, but said, \u201c\u2026based on working with him, I don\u2019t think he\u2019ll fight against it, but I don\u2019t think he\u2019ll be out there banging the drum for it.\u201d<\/p>\n

Rolling Up The Sleeves<\/h2>\n

State Senator Julian Carroll, a Democrat, has submitted a bill<\/a> that would put the state\u2019s sports betting system in the hands of the Kentucky Horse Racing Commission.<\/p>\n

Carroll\u2019s bill (BR29) calls for a $250,000 licensing fee for facilities that can be renewed for $25,000 each year, as well as a three percent tax on all money handled.<\/p>\n

Thayer said that he thinks both Democrats and Republicans will be able to work together to pass the bill, something he said is urgent from a competitive standpoint because of sports betting initiatives in neighboring states.<\/p>\n

When asked if Bevin would sign the bill if passed, Thayer said: \u201cI don\u2019t know.\u201d<\/p>\n

Getting sports betting functional in Kentucky is something that most lawmakers seem to be on board with. Andy Beshear, a Democratic candidate running against Bevin in 2019, has come out in support of sports betting.<\/p>\n

\u201cPeople are ready. They see where $1.2 billion goes to Indiana and Pennsylvania and other bordering states that they can use for their pension system. It\u2019s time to keep those dollars at home,\u201d Beshear said<\/a>.<\/strong><\/p><\/blockquote>\n

Earlier in the summer, State Rep. Jason Nemes announced he was assembling a nine member bipartisan committee of both state senators and representatives to work on sports betting legislation.<\/p>\n

Feed The Horses<\/h2>\n

Thayer said that it is important that whatever regulations are put in place, if any, support the horse racing industry. Carroll\u2019s bill places oversight duties in the hands of the Kentucky Horse Racing Commission.<\/p>\n

According to BR29, the racing commission would keep half of all license fees to offset regulation costs and the other half would be placed in a sports wagering trust fund. Ten percent of the money in that trust fund would be used for the Kentucky Thoroughbred development fund.<\/p>\n

The bill also states that \u201call moneys held in the fund shall be invested by the racing commission in accordance with the racing commission\u2019s investment practices, and all earning from the investments shall accrue to the benefit of the fund and the Commonwealth.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

A Kentucky State Senator is optimistic that the state legislature will approve legalized sports gambling during the upcoming 2019 legislative session, and went a step further, saying the Bluegrass State should be one of the states leading the way. Speaking recently, Kentucky Senate Majority Leader Damon Thayer said, \u201cI don\u2019t want us to be one […]<\/p>\n","protected":false},"author":40,"featured_media":87880,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,14577,13,13592,1074],"tags":[],"acf":[],"yoast_head":"\nKentucky Legislators Prep for Sports Betting, Governor's Stance Unknown<\/title>\n<meta name=\"description\" content=\"The Kentucky Legislature has prepared for legalized sports betting. A bill for the 2019 session has been filed and bipartisan support to create a regulated sports betting market in the state exists. 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