HB 39

Last week, Republican Representatives Matthew Koch and Michael Meredith introduced into the Kentucky state legislature a sweeping gambling bill with several key components, including legalized fixed-odds wagering in Kentucky along with efforts to essentially expand and modernize its gambling infrastructure. Unlike the fluctuating odds that make up pari-mutuel betting, fixed odds is a form of betting in which the payout odds are set and agreed upon at the time the wager is placed. Crucially, they do not change. Among other aspects of the bill, it requires tracks and tote companies...

Fixed-odds wagering has already made it to states like New Jersey and Colorado. It could also be a fixture in Kentucky thanks to a bill just introduced into the state legislature by Republican Representatives Matthew Koch and Michael Meredith. HB 904 is a sweeping piece of legislation with several key components designed to essentially expand and modernize the gambling infrastructure in the state. The contextual background of this bill appears to be an attempt to seriously grapple with the impacts from Computer Assisted Wagering (CAW) on the betting pools. Unlike...