Residents of Kentucky are patiently awaiting the arrival of legal sports betting following a surge of interest during the opening weekend of March Madness.
According to Vancouver-based technology firm GeoComply Solutions Inc., the Bluegrass State saw more than 295,000 geolocation checks on sportsbooks between March 16 and March 19.
On March 19, the University of Kentucky Wildcats faced the Kansas State Wildcats in the second round of the NCAA Tournament. Kentucky would ultimately get bounced from the tourney, suffering a 69-75 loss to KSU.
The blocked attempts to access legal sports betting in Kentucky involved neighboring states. 40.6% of the checks were on Ohio sportsbooks, while 39% were related to Indiana sportsbooks.
The processed checks, which came from over 23,000 unique player accounts, prove how much Kentuckians want to have online betting sites at their disposal. Despite their desire to wager, lawmakers in Kentucky — a state known for horse racing — have yet to legalize sports betting.
A glimmer of hope
Earlier this month, the state’s House of Representatives voted 63-34 in favor of House Bill 551, a proposed piece of legislation that would authorize both online and retail sports betting. HB 551 — introduced on February 22 — will now head to the Senate floor for further consideration.
HB 551 requires sports betting to be offered by Kentucky’s nine horse racing tracks, with wagering regulated by the state’s Horse Racing Commission. Each of the nine tracks across Kentucky would have permission to partner with up to three online sports betting operators.
The bill will need to be discussed promptly as the current legislative session ends on March 30.
An uphill battle
Legal sports betting in Kentucky isn’t guaranteed. Pieces of legislation related to wagering have been introduced in the state since 2018 but have failed due to a lack of support in the Senate.
In 2022, House Bill 606 passed in the Kentucky House by a 58-30 vote but didn’t receive enough votes on the Senate floor. HB 606 failed to pass over concerns sports betting could damage the moral standard of Kentucky and have a negative impact on families.
Despite the pushback, sports betting could create an additional revenue stream for Kentucky. Wagering is projected to generate $22.5 million in annual revenue, per Rep. Michael Meredith.
