A bill that would legalize mobile sports betting in Kentucky has been approved as House Bill 606 cleared the House Licensing, Occupations, and Administrative Regulations Committee on Wednesday. Now, the bill heads to the Senate for consideration.
There’s Still A lot of Work to Do in Kentucky
House Bill 606 would allow bettors to place wagers on mobile devices, which also includes horse racing. Rep. Adam Koenig is the one that sponsored the bill, and it was approved in the 100-member House on Friday by a 58-30 vote. Unlike Koenig, the majority of the bill was supported by Democrats, and only a select few Republicans supported the bill.
This is Koenig’s fourth attempt at trying to allow sports betting to take place in Kentucky. Time is running out as this legislative session ends on April 15th. The legislature will take a veto break that will begin on March 31st before returning on the last two days on April 13th, which means there’s less time to pass a bill.
Koenig expects the vote to be close in the Senate, which is taking sports up sports betting for the first time. This is an important year as odd-number years require a three-fifths majority vote during a 30-day session just like 2021 and the upcoming year 2023.
The Bill Faces Heavy Opposition As Well
Sports betting and other types of gaming will face plenty of opposition from conservatives and other religious groups that reside in the state. Groups that are opposed to this idea expressed their concerns that it would hurt compulsive gamblers.
Koenig is fully aware that it will take a lot of effort to gain support from this group. There were Republicans who were hesitant on voting on the bill in advance as members like Rep. D.J. Johnson don’t like the bill because revenue for the state is accumulated through losses. However, he also wants a regulated market because of the illegal wagering that takes place every year.
Popular sportsbooks like FanDuel have supported the effort as the brand gained early market access in the state.
According to the American Gaming Association, approximately $2 billion is wagered illegally across Kentucky. Also, previous bills that didn’t gain much support suggest that a regulated sports betting market could produce $22 million in revenue a year and would create new jobs throughout the state.
Gaining support in the Senate will be a tough task as Republicans outnumber the Democrats 30-8. Gov. Andy Beshear has supported a gaming expansion in Kentucky with Churchill Downs in Louisville, home of the annual Kentucky Derby.
What Would the Betting Market in Kentucky Look Like
The bill would allow residents who are 18 and older to partake in the operation. Users would be able to wager on the collegiate and professional sporting events.
Kentucky Wildcats and the Louisville Cardinals are strong collegiate programs that represent Kentucky. Situations like this would bring up the state’s sports betting handle as March Madness would interest a large majority of fans across the state.
Wagering on numerous sporting events is already legal in most states that are bordering Kentucky. West Virginia lies to the east and Virginia to the southeast. Tennessee only offers mobile sports betting but is a strong market in the industry.
Illinois and Indiana to the northwest also offer sports betting to sports betting to its residents. Illinois just got rid of its on-site registration to use mobile sportsbooks.
Sports betting is legal in Ohio, but it’s not operational at the moment. In Missouri, sports betting legislation is under consideration this session. If Kentucky or Missouri launch its sports betting market first, the other will most likely follow.