In the southern American state of Kentucky, proposed legislation that would legalize some forms of sportsbetting as well as daily fantasy sports and online poker has reportedly successfully cleared its first hurdle.
Committee endorsement:
According to a report from local television broadcaster, WAVE-TV, House Bill 175 is the brainchild of Republican legislator, Adam Koenig, and was unanimously passed by the Kentucky House of Representatives’ Licensing, Occupations and Administrative Regulations Committee on Wednesday.
Lengthy process:
The move reportedly means that the 47-year-old’s measure is now due to be put to a vote before the full 100-member Kentucky House of Representatives where it will be required to gain a minimum of 60 endorsements in order to proceed to a similar ballot before the Kentucky State Senate. Ratification by this second body along with the subsequent endorsement of Republican Governor, Matt Bevin, would see the envisioned legislation become the law of the land.
Public pension hopes:
The public employee pension system in Kentucky is currently struggling with a debt of approximately $39 billion and Koenig is hopeful that his measure will enable the state to bring in additional taxes of up to $48 million a year in order to help fill some of this shortfall while moreover paying for a range of addiction services.
Proposition prohibition:
In hopes of improving his measure’s chances, Koenig altered the language of House Bill 175 while it was in committee so as to only allow wagers that would be placed on actual sporting contests rather than side or proposition bets.
Koenig reportedly told WAVE-TV…
“We’ve taken out the Oscars and the Emmys and want to make sure that you can’t bet on the coin flip before the Super Bowl.”
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