The letter, which was written and sent by AGA President and CEO Bill Miller, requests that Kentuckians be given access to legitimate, controlled options in the hopes of diverting them from using illicit distribution methods.

The American Gaming Association (AGA) has written a letter to the Kentucky Senate, requesting that the body vote in favor of passing legislation that would legalize and regulate sports wagering in the state.

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Kentucky Needs to Combat Illegal Gambling

According to research conducted by the AGA, an estimated $64 billion is wagered annually through illegal sportsbooks. This means that the operators of these illegal sportsbooks do not pay state taxes, do not have a legal obligation to pay winning bettors, and often do not encourage responsible gaming. According to the findings of the study, on the other hand, authorized sports betting not only generates tax revenue for the state but also protects consumers and increases transparency.

The letter points out that six of the seven states that border Kentucky have already legalized sports betting, so residents of Kentucky who are interested in placing bets have two choices: either they can journey to one of the bordering states or they can bet with an unlicensed sportsbook. The AGA contends that this loophole should be closed by the state through the passage of legislation authorizing controlled wagering on sports.

If passed, House Bill 551 would allow licensed horse tracks and the Kentucky Derby to partner with up to three online sports betting skins, increasing the total number of operators in the state to a maximum of 27. The bill is presently being considered by the state legislature. This would prevent any company from gaining a monopoly on the Kentucky industry and provide customers with additional choices.

The AGA letter, in its concluding comments, respectfully urges the Senate to take action, imploring them to consider and approve legislation that would enable the people of Kentucky to participate in sports betting through regulated and safe channels, rather than relying on illegal means. This would allow the people of Kentucky to engage in sports betting without having to rely on illegal means.

Kentucky Struggle to Regulate Online Sports Betting

The letter was sent after geolocation checks conducted by GeoComply discovered 295,000 unsuccessful attempts to access internet sportsbooks located in other states during the opening weekend of the NCAA Men’s March Madness Tournament in Kentucky. This points to the existence of a distinct demand for sports betting within the state, which, according to the AGA, must be satisfied with the implementation of safety regulations.

If the House of Representatives votes in favor of House Bill 551, then Kentucky will join the ranks of other states like Indiana, Illinois, Tennessee, and West Virginia that have already passed legislation to legalize sports wagering. Additionally, it would make regulated choices available to customers and generate revenue for the state, which could then be put toward the funding of important initiatives.

The statement from the AGA draws attention to the importance of the Senate moving quickly and decisively to regulate sports betting in Kentucky, in order to protect consumers and provide a legal option that is open and honest for those who are interested in engaging in sports wagering.