HB 904

The Kentucky legislature has overridden the governor's veto on a sweeping bill that opens the door to fixed odds wagering in the state and bars a cap being placed on the number of mares bred to a stallion there, among its many facets. HB 904, first introduced into the state legislature by Republican Representatives Matthew Koch and Michael Meredith, was approved by state lawmakers earlier this month. Governor Andy Beshear, however, vetoed the bill and issued a statement Monday explaining his decision by arguing the bill would authorize two executive...

The Kentucky legislature has passed a sweeping bill that opens the door to fixed-odds wagering in the state and bars a cap being placed on the number of mares bred to a stallion there. In its final passage Wednesday, the 150-page bill passed out of the state House on a 64-19 vote, with 17 no-votes. It was delivered to Governor Andy Beshear's office on Thursday with a veto-proof majority. HB 904 was introduced into the state legislature by Republican Representatives Matthew Koch and Michael Meredith. Unlike the fluctuating odds that...

A floor amendment has been added to HB 904--a sweeping piece of legislation seeking to legalize fixed-odds wagering in Kentucky--that is designed to essentially ensure no limit can be imposed on the number of mares bred to a stallion in the state. It requires that the Kentucky Horse Racing and Gaming Corporation select and use an entity to act as "a registrar of Thoroughbreds" in the state, meaning it could choose an organization other than The Jockey Club, which is the current breed registry for the U.S., Canada and Puerto...

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...