- Kentucky Governor Andy Beshear vetoed House Bill 904, which would’ve raised the legal sports betting age to 21.
- The bill also would’ve banned college player prop bets for Kentucky teams and implemented minimum betting limits, which hasn’t been done before.
- It also would’ve changed the way that prediction markets and daily fantasy sports operators are regulated in Kentucky.
FRANKFORT, Ky. – Kentucky Governor Andy Beshear vetoed a sports betting bill that would’ve raised the minimum sports betting age to 21 years old, as well as other alterations to the state’s betting landscape. The Kentucky sports betting age remains 18 years old, alongside Washington D.C. and four other states without a 21+ requirement.
Aside from raising the legal sports betting age, also would’ve implemented regulatory changes and a licensing framework for daily fantasy sports contests in the state. Prediction markets were another topic of the bill, with HB 904 aiming to add a 14.25% tax rate, ban election betting, and ban Kentucky horse tracks from working with any prediction markets for at least a year.
One of the main reasons why Beshear elected to veto this bill is because it would’ve granted the Kentucky Lottery Corporation and Kentucky Horse Racing and Gaming Corporation to file regulations without governor approval.
Kentucky Would’ve Been First State With “Minimum Bet Limit”
One of the more unique aspects of HB 904 that Gov. Beshear shot down was a “minimum bet limit”, which the bill defines as “the amount a bettor can win, not how much can be staked or collected.” It also states that this minimum bet limit “must be accepted by bookmakers on all fixed-odds wagers.”
The mandatory minimum bet limit for tracks or licensed service providers is $1,000 per race. If the bill had passed, Kentucky would be the only state with legal sports betting to implement a minimum bet limit that must be accepted by bookmakers.
