If approved, House Bill 137 would make sports betting legal in Kentucky. A recent poll shows the majority of residents favor legalization. But the bill went nowhere after a second reading on January 16.
On March 18, the bill went back to the House Licensing, Occupations, & Administrative Regulations Committee. With the session ending on April 15, sponsor Rep. Adam Koenig, has his doubts about its success, according to the Courier-Journal.
The results of the poll indicated that 66 percent supported sports wagering. The approval rose to 74 percent when told almost all the revenues brought in would go to the public pension system.
The Koenig bill set tax rates at 10.25 percent for land-based locations and 14.25 percent for mobile and internet applications. Estimates peg the revenue gained from the law at $22.5 million a year.
“It may not be dead, but it’s on life support,” Koenig said of the chances.
Still, he’ll fight the good fight to the end, with the backing of Governor
Andy Beshear.
“I will keep running it until they kick me out of this place, and I may not leave until it passes,” Koenig said.
