Kentucky Sports Betting Bill Vetoed: What’s Next?

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Kentucky Governor Vetoes Sports Betting Age Increase Bill

The Kentucky Legislature recently passed a bill that aimed to increase the minimum age for sports betting from 18 to 21, matching the standard set by most states. The legislation also included provisions to ban player prop bets on in-state college teams and mandate that all daily fantasy sports contests be conducted peer-to-peer, rather than player versus house.

However, Governor Andy Beshear vetoed the bill. The veto was primarily due to a section of the bill that would have allowed the Kentucky Lottery and the Kentucky Gaming Commission to create new rules and regulations for the industry without the need for his approval. This included the power to propose emergency changes to sportsbook offerings and other regulations, which Governor Beshear opposed, stating he did not want to be excluded from the regulatory process.

With the bill now back in the Legislature, there is a possibility for an override of the governor's veto by tomorrow. Historically, the Kentucky Legislature has overridden many of Beshear’s vetoes. Additionally, responding to concerns raised by prominent sports betting companies like FanDuel and DraftKings, the legislature modified the bill to remove a provision that would have barred any company offering prediction markets from obtaining a sports betting license in Kentucky. This change was motivated by an estimated potential loss of $40 million in tax revenue.

The fate of the bill remains undecided as it returns to the Legislature for further discussion and potential revision. This episode underscores the evolving and contentious nature of sports betting legislation in states across the country.