A bill that aims to legalize online sports betting in Kentucky has gained passage in the House. House Bill 551 got the green light following a 63-34 vote on Monday, eclipsing the three-fifths majority necessary in order to progress.
HB 551 would legalize both online and retail sports betting. The nine horse racing tracks in Kentucky would be able to partner with as many as three online sportsbook operators. This bill estimates that the state would receive approximately $22.3m in tax revenue annually once the sector was up and running.
The next big hurdle for the bill will be getting sufficient support in the Senate, which has been historically hostile to sports betting. A similar bill went to the Senate last year and did not even receive a floor vote. A vote typically only takes place in the Kentucky Senate if there appears to be a consensus on the given issue.A similar bill went to the Senate last year and did not even receive a floor vote.
HB 551 would legalize both online and retail sports betting. The nine horse racing tracks in Kentucky would be able to partner with as many as three online sportsbook operators. This bill estimates that the state would receive approximately $22.3m in tax revenue annually once the sector was up and running.
