Kentucky Sports Betting Bill Headed To Assembly Floor

Momentum is growing for legal sports betting in Kentucky. This is indicated by comments from the new governor and bipartisan approval of a regulatory framework for online poker and legal sports betting.

Indiana’s casinos and online sportsbooks may soon cease to withdraw action from the Bluegrass State. This is particularly likely, considering changes in Kentucky’s bill, its unanimous committee support, and its progression to the General Assembly floor.

The increasing enthusiasm for sports betting in Kentucky

In his State of the Commonwealth address on Tuesday, Governor Andy Beshear made his stance on gambling expansion unequivocally clear.

We also need to commit to securing new revenue streams to cater to the increasing demands of our state. At present, we are losing over $500 million in gaming revenue to neighboring states such as Indiana, Ohio, and Illinois. We need to halt this outflow and redirect these funds towards our requirements. Representative Adam Koenig has proposed a sports betting bill, a move I wholly endorse and believe we should enact.

Koenig is part of the state’s General Assembly, which is now preparing to vote on his proposal. The Assembly’s Committee on Licensing, Operations and Administration Regulations unanimously voted on Wednesday morning to forward the bill to the full Assembly for consideration.

While the governor and a portion of the Assembly firmly support the bill, it remains uncertain if this support extends to the entire Assembly. Additionally, the issue of widespread support in Kentucky’s Senate is equally uncertain.

Two new principles of the bill may assist in persuading legislators. They will also impact the action at Indiana sportsbooks.

New version of bill alters college betting and limited in-person registration

Prior to the Assembly committee’s resounding approval of H.B. 137, considerable additions and removals of specific language were made. None of these changes were insignificant.

The committee-approved version of the bill stipulates a sunset date for the in-person registration requirement for online betting. This means that after 18 months, this requirement will no longer be in effect.

The committee also eliminated wording that prohibited betting on Kentucky’s college teams. Since Kentucky has no teams participating in the four major professional North American sports leagues, these college events are the state’s most significant sporting interest.

What implications does this have for sports betting in Indiana?

The two alterations could signify a mixed outcome for Indiana. The new bill presents both advantages and disadvantages for operators in the Hoosier State.

The continued existence of the in-person registration requirement could prompt some Kentuckians to keep crossing the border to place bets. Since there’s no such law in Indiana, it could be a more convenient option.

Simultaneously, the ability of Kentucky sportsbooks to provide odds on Louisville and Kentucky football and men’s basketball games may encourage bettors to gamble from home. If the ban had remained, it would have given a significant advantage to Indiana sportsbooks.

Even if this bill is approved in Frankfort, it may still take several months for legal sportsbooks to start accepting bets in Kentucky. These advances increase the likelihood that Indiana’s sportsbooks may not always be the nearest legal choice for Kentuckians.