FRANKFORT, Ky. — Kentucky lawmakers are considering legislation that supporters say would modernize the state’s gaming laws as the industry grows.
House Bill 904 would place stronger oversight on fantasy sports contests, something the bill’s sponsor, state Rep. Michael Meredith, R-Oakland, says is needed.
“Sports wagering was a bill that was something that I worked on about three years ago and was very, very important. We’ve had a great program, but there are some things that needed to be adjusted there,” Meredith said.
The bill would require fantasy sports betting platforms to be licensed through the Kentucky Horse Racing and Gaming Corporation.
Another change would allow fixed-odds betting on horse races, with payouts locked in when the bet is placed.
The bill would ban proposition bets, or “prop bets,” on Kentucky college athletes, meaning bettors could not wager on an individual athlete’s performance.
It would also add regulations to charitable gaming by increasing licensing fees and raising the charitable gaming prize limit by nearly $1,000.
“We moved them over to the corporation, which now oversees all forms of gaming in Kentucky except for the lottery, under the Kentucky Horse Racing and Gaming Corporation,” said bill co-sponsor state Rep. Matt Koch, R-Paris.
The bill would also raise the minimum age to bet on sports to 21, a change sponsors say was added at the request of their House Republican caucus.
HB 904 is expected to be voted on by the Kentucky House of Representatives early next week.