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A bill to legalize sports betting in the state of Kentucky has been prefiled by two lawmakers.
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A proposal from Rep. Dennis Keene, D-Wilder, would establish a trust fund, with 60 percent of proceeds going to the state’s pension fund, but a bill from Sen. Julian M. Carroll, D-Frankfort, would not require that any of the revenue be spent on specific purposes.
From Inside Louisiville:
Matthew Stephens, general counsel for the Kentucky Senate Democratic Caucus, told Insider that state lawmakers are still discussing funding mechanisms, including whether to tax a share of how much money people bet — or how much betting operators generate in revenue after they pay out the winners.
Stephens also said that legislators are weighing whether to have the new sports betting industry overseen by an existing state body, such as the Horse Racing Commission, or a new agency.
In addition, he said, the representatives and senators are mulling where to allow people to place their bets, whether at existing gambling facilities, such as Churchill Downs’ recently opened Derby City Gaming, online, wherever people buy lottery tickets or all of the above.
- GIlbert Horowitz, Gambling911.com
