Sports betting in Kentucky is set to see a rapid expansion in 2021, with the state legislature recently passing a bill to legalize sports betting. This is a major step forward for the state, as it will open up a whole new world of opportunities for sports fans and bettors alike.
The bill, which was signed into law by Governor Andy Beshear in March 2021, allows for the Kentucky Horse Racing Commission to regulate and oversee sports betting in the state. This means that the commission will be responsible for setting up the rules and regulations for sports betting, as well as issuing licenses to operators.
The bill also allows for online sports betting, which is expected to be a major draw for bettors. With online sports betting, bettors will be able to place bets from the comfort of their own homes, without having to travel to a physical location. This could be especially beneficial for those who live in rural areas, where there may not be any physical sportsbooks.
In addition to online sports betting, the bill also allows for mobile sports betting. This means that bettors will be able to place bets on their phones or other mobile devices, making it even easier to place bets on the go.
The new law is expected to bring a lot of new business to the state, as well as create jobs and generate tax revenue. It is estimated that the state could see up to $30 million in tax revenue from sports betting in 2021.
With the new law in place, Kentucky is now poised to become one of the leading states in terms of sports betting. The state already has a strong horse racing industry, and with the addition of sports betting, it could become a major hub for sports betting in the United States.
As more states begin to legalize sports betting, Kentucky is sure to benefit from the influx of new bettors and businesses. With its strong horse racing industry and now legal sports betting, Kentucky is sure to see an expansion in its sports betting catalog in 2021.