Sports betting is set to become a reality in Kentucky in early 2021. The state recently passed legislation that will allow for the regulation of sports betting in the Bluegrass State. This is a major step forward for the state, as it will open up a new form of entertainment and revenue for the state.

The legislation was passed by the Kentucky General Assembly in 2019 and was signed into law by Governor Matt Bevin. The law will allow for the regulation of sports betting in the state, with the Kentucky Horse Racing Commission (KHRC) serving as the regulatory body. The KHRC will be responsible for issuing licenses to sports betting operators, setting regulations, and enforcing the laws.

The law will allow for both online and retail sports betting in the state. Online sports betting will be available through mobile devices, while retail sports betting will be available at licensed casinos and racetracks. All sports betting operators will be required to pay a 10% tax on gross gaming revenue, with the money going to the state’s general fund.

The law also includes provisions to protect problem gamblers. Operators will be required to offer self-exclusion programs, as well as responsible gaming education programs. There will also be limits on how much money can be wagered in a single day, as well as limits on how much money can be withdrawn from an account in a single day.

The KHRC is currently working to develop regulations and procedures that will govern sports betting in the state. It is expected that sports betting will be available in early 2021, with the first licenses being issued in the spring of 2021.

Sports betting is an exciting new opportunity for Kentucky, and it is expected to bring in much-needed revenue for the state. It will also provide a new form of entertainment for residents and visitors alike. With the passage of this law, Kentucky is now one step closer to becoming a leader in sports betting in the United States.