Las vegas sports betting taxes 2021

Las vegas sports betting taxes 2021

Two completed legislative sessions and one generational pandemic later, Kentucky sports betting is still illegal and its future remains bleak.

A 2020 sports betting bill championed by Rep.

Adam Koenig (R) cleared a House committee without opposition in January of that year, seemingly clearing a legalization path with bipartisan support.

Instead, GOP leadership delayed the bill from a full floor vote.

By the time the pandemic shut down most businesses and the legislature a few months later, sports betting was a relative afterthought, excluded from recalibrated and truncated budget deliberations.

Koenigs follow-up bill wouldnt even pass committee.

The 2021 session adjourned sine die earlier this week; sports betting legislation supported by Republican lawmakers and a Democratic governor failed in the state best associated with pari-mutuel wagering.

Background on Kentucky Sports Betting, kentucky seemed like a logical sports betting candidate after the Supreme Court struck down the federal wagering ban in May 2018.

Though it has no brick-and-mortar casinos, the state hosts the nations most iconic pari-mutuel horse race.

Single-game sports wagering seemed like a logical extension.

Neighboring states such as Ohio and West Virginia had permitted their equine facilities struggling with decades of dwindling attendance to expand into Las Vegas-style casinos (or racinos reaping millions more in annual revenues from the new gaming options.

In Kentucky, casino expansion has remained a political dead end.

Andy Beshear championed casinos in his 2019 gubernatorial campaign, no legalization bills have gained any traction.

Sports betting, backers such as Koenig believed, could be different.

Sportsbooks were a natural complement to Churchill Downs and the states other venerable horse tracks and could be a way to keep Kentuckians from placing bets in the growing number of neighboring states with legal wagering.

These financial arguments, along with Beshears endorsement, helped fiscally-oriented Republicans as well as Democrats support Koenigs 2020 House sports betting bill with minimal opposition.

The resounding support at the committee level in January seemed to foreshadow an eminent and successful vote on the full House floor.

Instead, conservative political opposition delayed a formal vote for months.

By March, the covid-19 pandemic effectively killed 2020 hopes.

Though Democrats pushed for sports betting as a new revenue generator for a state budget facing dwindling tax revenues and rising healthcare costs exacerbated by the pandemic, it gained little traction in the overwhelmingly Republican General Assembly.

2021 Efforts Fall Short, koenig and more than a dozen co-sponsors tried again in 2021, but had little time to push sports betting in Kentuckys shortened, odd-numbered-year session.

Additionally, conservative outside groups had successfully sued to outlaw legal historic horse racing terminals.

The Kentucky Supreme Courts September 2020 decision to ban the games sent lawmakers scrambling to pass new legalization legislation for the games, which act similar to slot machines and generate millions in annual revenues for state horse tracks and government coffers.

This sucked up much of what limited political oxygen existed in Frankfort for 2021 gaming matters.

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