The Kentucky Horse Racing Commission (KHRC) has approved the launch of sports betting for September 7th, when the new National Football League (NFL) season begins. Betting will start in face-to-face locations in the US state, while mobile operations can only take place from September 28th.
The KHRC voted to pass the state’s sports betting rules at a special meeting at Red Mile Gaming and Racing in Lexington. Kentucky Governor Andy Beshear signed the sports betting legislation into law in April and the law took effect on July 1.
Details of the bill that releases sports betting in the state
House Bill 551 was introduced by Representative Michael Meredith in February. The legislation covers retail and online betting on professional and collegiate sports, international sports, eSports and video game events.
The minimum age will be 18 years old. The law will permit sports betting licenses for the nine horse racing tracks in Kentucky. Tracks will be able to promote face-to-face sports betting and partner with up to three online sports betting houses.
Initial license fees are $500,000 for racing and $50,000 for game providers. Income from face-to-face sports betting will be taxed at 9.75% and online income at 14.25%.
About the Kentucky Horse Racing Commission
The Kentucky Horse Racing Commission is an independent agency of the state government charged with regulating the conduct of horse racing and mutual betting on horse racing and related activities within the Commonwealth of Kentucky.
Furthermore, the KHRC is an organization that looks out for the welfare of the horse and rider and the safety and integrity of horse racing.
