Kentucky Statutes 230.811 – License required to conduct sports wagering — Prerequisites to obtaining sports wagering license — Fees
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(1) Except as provided in KRS § 230.805(6), no person shall conduct, manage, or offer to conduct sports wagering within the Commonwealth of Kentucky without obtaining a license from the racing commission.
(2) As a prerequisite to obtaining a sports wagering license, a person shall be licensed as an association under KRS § 230.300. If sports wagering is conducted by the track that chooses not to contract with a service provider, it shall comply with the standards established by the racing commission for service providers to ensure the integrity of the system of sports wagering before conducting sports wagering in the Commonwealth.
(3) In addition to the requirement in subsection (2) of this section, an initial fee of five hundred thousand dollars ($500,000) shall be paid to the racing commission before a sports wagering license may be issued to a track.
(4) An annual renewal fee of fifty thousand dollars ($50,000) shall be required for each sports wagering license.
(5) Licensing fees paid under this section shall be deposited into the sports wagering administration fund established by KRS § 230.817.
Effective: June 29, 2023
History: Created 2023 Ky. Acts ch. 147, sec. 10, effective June 29, 2023.
(2) As a prerequisite to obtaining a sports wagering license, a person shall be licensed as an association under KRS § 230.300. If sports wagering is conducted by the track that chooses not to contract with a service provider, it shall comply with the standards established by the racing commission for service providers to ensure the integrity of the system of sports wagering before conducting sports wagering in the Commonwealth.
Terms Used In Kentucky Statutes 230.811
- Contract: A legal written agreement that becomes binding when signed.
- Racing commission: means the Kentucky Horse Racing Commission. See Kentucky Statutes 230.210
- service provider: means a person authorized to conduct or manage sports wagering through an agreement with a track and provide these services at a licensed facility for sports wagering, simulcast facility, or through a website or mobile interface approved by the racing commission. See Kentucky Statutes 230.210
- Sports wagering: means the wagering conducted under this chapter on sporting events or portions of sporting events, or on the individual performance statistics of athletes in a sporting event or combination of sporting events, in conformance with federal law and as authorized by the racing commission pursuant to this chapter. See Kentucky Statutes 230.210
(3) In addition to the requirement in subsection (2) of this section, an initial fee of five hundred thousand dollars ($500,000) shall be paid to the racing commission before a sports wagering license may be issued to a track.
(4) An annual renewal fee of fifty thousand dollars ($50,000) shall be required for each sports wagering license.
(5) Licensing fees paid under this section shall be deposited into the sports wagering administration fund established by KRS § 230.817.
Effective: June 29, 2023
History: Created 2023 Ky. Acts ch. 147, sec. 10, effective June 29, 2023.