Kentucky legalizes sports gambling, readies to launch

Kentucky has become the latest state in the US to legalize sports gambling, clinching a momentous victory for sports gambling proponents in the last days of Bluegrass State’s legislative session.

The bill, which pushed the measure through, was immediately signed into law by Governor Andy Beshear, a long-standing proponent of gambling products, including poker and sports betting, making Kentucky the 38th state to legalize sports betting products as well.

House Bill 551 has managed to make a final run for it with a 25-12 vote in Senate, with the overwhelming majority of senators throwing their back behind what they saw as an important measure to help catch up Kentucky to neighbors. Governor Beshear was quick to sign the law on Friday morning after the voting took place on Thursday.

The law will introduce a number of options to place a legal wager. Horse racing tracks will have the option to work as betting facilities, but they would have to obtain a license first. Both in-person and online wagers have been allowed under House Bill 551’s terms. The passage of the bill was not a straightforward affair either.

In fact, there were rumors that House Bill 551 would not even muster the necessary 23 votes it needed to clear the legislative bar and go to Governor Beshear’s desk the next morning. These rumors quickly dissipated when the voting day came and senators turned up for the vote. Bill sponsor Damon Thayer remained confident about the future of sports gambling in Kentucky.

Delivering his final arguments on Thursday prior to the actual vote, Thayer assured that there are clear economic benefits for Kentucky that the Bluegrass State should exploit in full. The estimated tax revenue generated from sports gambling would hit $23m annually. This is an important revenue that would go towards helping the state’s pension fund.

Governor Beshear has long advocated for the legalization of various gambling activities to help the state’s bloated public purse and ailing pension system step on firmer ground. Thayer argued that Kentucky is a state where sports tradition lives. He is not wrong, the Kansas City Chiefs are one of the most prominent teams in the United States, and recent Super Bowl winners.

Thayer will no longer need to convince politicians as the wheels have been set in motion and what is next is for Kentucky to finally get its sports gambling operations online.

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