online poker<\/a> and fantasy sports. The Kentucky Horse Racing Commission would regulate sports betting. He’s not expecting major changes to his proposal.<\/p>\nThose bills have called for race tracks to offer retail and mobile sports betting, with gross revenue taxed at 9.75 percent for retail bets and 14.25 percent for online wagers. On the retail side, an additional .5 percent tax would go to racing development funds.<\/p>\n
Under that tax plan, proponents believe the state can generate more than $20 million annually in revenue.<\/p>\n
There has also been a provision for professional sports venues holding at least 50,000 people to get a license. That allowed the Kentucky Speedway to pursue a license. However, the auto track has not held a NASCAR race since 2020. Koenig said that will likely need to be addressed in a new bill.<\/p>\n
Past bills set the license fee at $500,000 and annual renewals at $50,000. Those proposals have also set the minimum age at 18 years old, and required an 18-month in-person registration period for a mobile account. That means in order to wager on a mobile application, a bettor would first need to physically go to the track partnering with the mobile app they wish to use, and show proof they are of age to bet.<\/p>\n","protected":false},"excerpt":{"rendered":"
Few people want sports betting legalized in Kentucky more than state Rep. Adam Koenig. The Erlanger Republican has filed bills since 2019 calling for just that. Another bill is in the works for the 2022 General Assembly session, which started on Tuesday. But while there\u2019s hope, there\u2019s also some frustration, too. That was evident as […]<\/p>\n","protected":false},"author":45,"featured_media":197449,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[13,1074],"tags":[],"acf":[],"yoast_head":"\n
Kentucky Rep. Koenig Hopeful But Frustrated Over Sports Betting Bill<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n