{"id":260,"date":"2024-06-27T10:51:51","date_gmt":"2024-06-27T07:51:51","guid":{"rendered":"https:\/\/luckycharmssweepstakescasinonodepositbonus.icu\/2024\/06\/27\/kentucky-considers-legalizing-sports-betting-fantasy-sports-and-online-poker\/"},"modified":"2024-06-27T10:51:51","modified_gmt":"2024-06-27T07:51:51","slug":"kentucky-considers-legalizing-sports-betting-fantasy-sports-and-online-poker","status":"publish","type":"post","link":"https:\/\/luckycharmssweepstakescasinonodepositbonus.icu\/2024\/06\/27\/kentucky-considers-legalizing-sports-betting-fantasy-sports-and-online-poker\/","title":{"rendered":"Kentucky Considers Legalizing Sports Betting, Fantasy Sports, and Online Poker"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/nb-_GlTb1Co\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>Kentucky legislators are contemplating a novel piece of legislation that would make sports wagering, fantasy sports, and online poker legal within the state.<\/p>\n<p>The proposed legislation, put forward by fifteen lawmakers and dubbed House Bill 175, would permit Kentucky racetracks and athletic facilities to provide in-person, online, and mobile sports betting, with bettors required to establish an account at the venue beforehand.<\/p>\n<p>Sports betting permits would carry an initial cost of one million dollars, along with an annual renewal fee of fifty thousand dollars.<\/p>\n<p>The tax rate levied on sports betting would fluctuate based on the method employed by bettors to place their wagers, with all taxes collected on a monthly basis. In-person wagers would be subject to a tax of ten and a quarter percent of adjusted gross revenue derived from sports betting, while online or mobile bets would be taxed at fourteen and a quarter percent.<\/p>\n<p>Should the bill be approved, the Kentucky Horse Racing Commission would assume responsibility for regulating the state&#8217;s sports betting market, encompassing both land-based and digital platforms.<\/p>\n<p>Fantasy sports licenses would come at a cost of five thousand dollars for operators, accompanied by annual renewal fees equivalent to six percent of the preceding year&#8217;s adjusted gross revenue or a fixed fee of five thousand dollars. <\/p>\n<p>This regulation doesn&#8217;t explicitly define the tax percentage for fantasy sports competitions, but it does necessitate all operators who meet the state&#8217;s requirements to enroll by January 15, 2020.<\/p>\n<p>Concerning online poker, individuals aged 18 or older will be able to participate in games, which differs from the 21-year-old age restriction proposed or adopted in other states. Poker can be played through computers and mobile devices.<\/p>\n<p>The cost of obtaining an online poker permit is $250,000, with an annual renewal charge of $10,000. Operators will face a 6.75% tax rate on net poker earnings, payable monthly.<\/p>\n<p>Concerning which poker games are legal to offer in Kentucky, the bill defines poker as: &#8220;including, but not limited to, five-card draw, seven-card stud, and Texas Hold&#8217;em.&#8221;<\/p>\n<p>The bill has now been sent to the Kentucky House Licensing, Occupations, and Administrative Regulations Committee for further review. The state&#8217;s current legislative session ends on March 29.<\/p>\n<p>Kentucky has a complex history with online gambling, having fought a lengthy legal battle with PokerStars, which was fined $870 million for illegal activities in the state between October 2006 and April 2011.<\/p>\n<p>However, the Kentucky Court of Appeals recently reversed the decision, stating that it would &#8220;lead to unreasonable and unfair outcomes.&#8221;<\/p>\n<p>Image: Andreas Faessler<\/p>\n<p>Sign up for the iGaming Newsletter. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Kentucky legislators are contemplating a novel piece of legislation that would make sports wagering, fantasy sports, and online poker legal within the state. The proposed legislation, put forward by fifteen&hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Kentucky Sports Betting Bill: A Game Changer?<\/title>\n<meta name=\"description\" content=\"Kentucky lawmakers are considering a bill that would legalize sports betting, fantasy sports, and online poker. 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