On Monday, Kentucky Governor Andy Beshear signed a bill that will legalize sports betting in the state. This marks a major milestone for the state, as it is the first time that sports betting has been legalized in Kentucky.
The new law will allow for sports betting to take place at the state’s racetracks and casinos. It will also allow for online and mobile sports betting, which is expected to be a major source of revenue for the state.
The bill was passed by the state legislature earlier this month and was signed into law by Governor Beshear on Monday. The law will take effect on July 15th, making Kentucky the 15th state to legalize sports betting.
The new law will allow for a wide variety of sports betting options, including wagering on professional and collegiate sports. It will also allow for in-game wagering, which is a popular form of betting that allows bettors to place bets on specific plays or events during a game.
The new law is expected to generate significant revenue for the state. It is estimated that the state could see up to $30 million in annual revenue from sports betting. This money could be used to fund education, health care, and other important services in the state.
The new law is also expected to create jobs in the state. It is estimated that up to 1,000 new jobs could be created as a result of the new law.
Overall, the new law is a major step forward for Kentucky and its citizens. It will not only generate much-needed revenue for the state, but it will also create jobs and provide entertainment options for those who enjoy sports betting.