In May, the U.S. Supreme Court overturned a previous ruling that banned sports betting. Indiana, which has already been taking Kentucky’s money at its casinos, quickly passed legislation legalizing sport bets.
With only a portion of sports books taking action the first month that it was legal, the Hoosier state took in more than $35 million. That equals more than $800,000 in revenue for Indiana.
I know Kentucky only had a few weeks to work on this issue in the last session, but there is no excuse not to be ready as soon as the next assembly opens in January.
Nine Kentucky lawmakers are already on the case, and they plan to pre-file legislation to expedite their efforts. We can only hope that the backwoods good ole’ boy system stays out of the way. These taxes could rake in millions for the Commonwealth and put a nice dent in Kentucky’s $43 billion pension shortfall.
I'm Dale Woods and that's my Point of View.