Kentucky State Rep. Kim King (R-Harrodsburg) filed a bill in the state's legislature this week to raise tax rates on advance deposit wagering and historical horse racing handle in Kentucky, according to the Lexington Herald-Leader. After researching the issue, King said the current tax rate on ADW is far less than on live bets.
“I think they've really been getting a sweetheart deal and it needs to be updated,” King said.
King filed a similar bill last year but it did not get out of committee. Rep. Adam Koenig (R-Erlanger), who is a member of the Kentucky Horse Racing Commission's Equine Drug Research Council, opposes the measure, expressing concern that tax increases would be passed on to the bettor. Koenig is also chair of the House Committee on Licensing, Occupations and Administrative Regulations, where the bill stalled last year.
In 2020, ADW handle in Kentucky was $282 million, of which $1.4 million went to taxes and only $212,093 went to the state's General Fund. HHR handle was $2.2 billion, of which $33.8 million went to taxes and the General Fund received $15.1 million.
Read more at the Lexington Herald-Leader
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