Kentucky Approves Familiar-Looking Sports-Betting Regulations

Kentucky Approves Familiar-Looking Sports-Betting Regulations Pleas Subscribe For Daily Sports Betting NewsShow more

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The legal sports betting experience in Kentucky looks like it will be similar to what’s on offer in other states with event wagering.
A swath of Kentucky sports betting regulations was approved on Monday by the state racing commission and Gov. Andy Beshear, setting the stage for a launch of legal wagering in the state in September.  Under the current timeline, retail sports betting at horse-racing tracks and their satellite locations will start on September 7, while mobile wagering should begin on September 28.
“This is a historic day for our commonwealth — sports wagering will open for the first...

The legal sports betting experience in Kentucky looks like it will be similar to what’s on offer in other states with event wagering.
A swath of Kentucky sports betting regulations was approved on Monday by the state racing commission and Gov. Andy Beshear, setting the stage for a launch of legal wagering in the state in September.  Under the current timeline, retail sports betting at horse-racing tracks and their satellite locations will start on September 7, while mobile wagering should begin on September 28.
“This is a historic day for our commonwealth — sports wagering will open for the first time in Kentucky in less than 60 days,” Beshear said in a press release.
Borrowing ideas The rules approved on Monday were then posted online by the Kentucky Horse Racing Commission on Tuesday. Much of what was approved is technical, such as the requirement for a floor plan for a proposed brick-and-mortar sportsbook, including the locations of wagering kiosks. Licensees must also develop and maintain a responsible-gambling program that requires regulatory approval.
Other rules are more or less in line with what other states with retail and online sports betting sites have done, give or take a few years of gaming eligibility and a much greater role for the horse-racing industry. This is partly due to Kentucky regulators spending months consulting with other state watchdogs and the gaming industry on their regulations. Kentucky was the 37th state to legalize sports betting, allowing it to draw on the experience of others. 
For starters, wagering on most sporting events will be allowed in Kentucky, albeit for those aged 18 and older. However, Kentucky sports betting sites are forbidden from accepting wagers on injuries, penalties, replay outcomes, disciplinary proceedings, amateur youth sporting events, and dog or horse races (residents will need to head to the track, OTB, or a separate app for that).
Regarding advertising, licensees cannot use "any false or misleading" marketing about their sports-betting operations. Advertising at elementary, middle, or high school activities is also forbidden unless it's mass media, such as a radio spot overheard at those schools.
Users can fund their accounts with debit and credit cards, among other things. Bettors who want to sign up for a mobile app or site will need to provide their full legal name, date of birth, and at least the last four digits of a Social Security number or "equivalent government identification number for a noncitizen, such as a passport or taxpayer identification number." 
It's an emergency The regulations were signed as “emergency” rules, meaning they go into effect immediately after being filed with the state’s Legislative Research Commission. Despite this, matching “ordinary” regulations were filed at the same time, allowing for public comment and legislative review of the rules.
In the meantime, would-be sports betting sites are likely getting their paperwork ready. Kentucky’s licensed horse-racing facilities were allowed to start applying to open retail sportsbooks on Tuesday, as the state aims to get some of those books open for September 7, the start of the National Football League’s regular season. 
“We have worked hard to deliver sports wagering to Kentuckians with regulations designed to protect bettors,” Public Protection Cabinet Secre...