It may be nice while it lasts, but Indiana may soon see its draw of Kentuckians diminish when Kentucky finally gets its own sports betting action. The momentum to get it done is growing, with bipartisan support, according to PlayIndiana.com.
“A commitment to the future also requires that we create the new revenue to meet the growing needs of our state, and right now we are watching more than $500 million in gaming revenue go across the border to states like Indiana, Ohio and Illinois,” said Governor Andy Beshear. “It is time to stop that flow, to use that money for our needs. Rep. Adam Koenig has filed a sports betting bill. I fully support it, and we should pass it.”
On January 15, the Assembly’s Committee on Licensing, Operations and Administration Regulations voted unanimously to send the bill on to the full Assembly for consideration. Still, it’s unclear if enough legislators are on board in both houses. Two new aspects of the bill might persuade the reluctant members.
The first is the addition of a sunset date for the in-person registration requirement for online wagering. That requirement would fade away after 18 months in the version of the bill approved by the committee. The committee also removed language that banned wagers on college teams in Kentucky. As the commonwealth has no teams in the four major professional North American sports leagues, those are the events of largest interest in the state.
The changes could impact operators in Indiana. The fact that the in-person registration requirement survives could make some Kentuckians continue to cross the border to bet. There’s no such law in Indiana, and that means it could be more convenient.
On the other hand, the idea that Kentucky sportsbooks will offer odds on Louisville and Kentucky football and men’s basketball games could spur bettors to stay home. Had that ban survived, it would have represented a big advantage for Indiana sportsbooks.
Even if this bill gets a legislative thumbs-up, it could be several months before legal sportsbooks actually start accepting wagers in Kentucky.
