House Bill HB 551, which was introduced by Rep. Michael Meredith in February, has been approved by the committee and will now move to the House floor before potentially moving to the Senate. The bill will allow the state’s nine horse racing tracks to open retail sportsbooks and offer sports betting at their off-track historical gaming venues. It also makes provisions for mobile sports betting in Kentucky by allowing each track to partner with a recognized mobile sports betting provider. Speaking during committee testimony, the bill’s co-sponsor Rep. Al Gentry said: “Kentucky residents are participating in that activity already; they’re either doing illegally or simply going across the border and spending their discretionary dollars there. This will tax, regulate and make it legal.” However, there […]

The March Madness basketball tournament is an annual event held in the United States each spring. It involves the top 68 college basketball teams from around the country, competing in a single-elimination tournament to determine the national champion. The tournament is organized by the National Collegiate Athletic Association (NCAA) and is widely considered one of the biggest and most exciting events in college sports. The tournament typically lasts for three weeks and involves a series of games played across the country, culminating in the Final Four, where the last four remaining teams compete in the national semifinals and finals to determine the champion. While there are no guarantees in the stock market, some companies that may benefit from the March Madness tournament include: DraftKings Inc. […]

According to recent reports, Ohio generated over $1.1 billion in sports betting revenue in January, the first month of legal sports betting in the state. This news has encouraged Kentucky lawmakers, who are also pushing for the legalization of sports betting. The bill, HB 551, has been filed and is awaiting a vote from the House Licensing, Occupations, and Administrative Regulations Committee. The bill would require online gaming providers to associate with a Kentucky horseracing track, and the Kentucky Horse Racing Commission would have regulatory responsibilities over the gaming providers. Sports betting would be allowed through a licensed facility or online through a website or app. The revenue generated would go to a newly created sports wagering administrative fund, which would provide costs for licensing […]