Recently, Ohio’s governor signed sports betting into law, and its apparently inspiring neighboring Kentucky to do the same. So if you have been wondering if Kentucky Sports Betting Legislation will pass the state legislature, the answer could now be yes. But we will not know if they will allow for the use of sports betting software, or if it will be a retail-only arrangement. Of course, many in the industry are hoping for the former.
State Representative Adam Koenig recently said that he plans to file a sports betting bill when the legislature meets next month. The state’s legislative session will run from January 4, to April 15. This will be ample enough time for legislators to review sports betting, and the benefits of allowing the use of a sports betting platform in the state.
Kentucky Sports Betting Future
It is not without lack of effort that the state does not have online sports betting. In fact, there have been previous efforts to legalize sports betting in the state. However, they were met with resistance from certain parties who have concerns about gambling. But the state stands to earn from sports betting, and it would be a wasted opportunity to not welcome it. Besides, its not as if the state is unfamiliar with betting in general, with horse racing a popular sport and betting activity in the state.
Those who have been using bookie software tools to manage their online sportsbooks have been seeing a large surge in activity and revenue over the year. This is despite still being in the pandemic. If Kentucky residents were to stop traveling to neighboring states and place bets on local sportsbooks instead, the state can definitely collect millions in taxes each year.