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Tue February 12, 2013
Bill Taxing Online Horse Betting Passes House Committee
FRANKFORT, Ky. - A bill passed unanimously by the state House Budget Committee today/Tuesday would tax bets placed on online horse races.
The Lexington Herald-Leader reports that early figures show $106M was wagered by Kentucky citizens via advanced deposit wagering last year. Representative Larry Clark, who is co-sponsoring House Bill 189, which would add a .5 percent tax on those bets, says the proposal would bring in more than $400,000 in taxes. 85 percent of the money would go to the tracks, which would be required to put 50 percent of it into purses.
In-person bets at Kentucky’s horse tracks are already taxed, but those who wager using mobile devices do so tax-free.
The measure has won approval in the House before, but has had difficulty making it through the Republican-controlled Senate.