“Everybody knows it exists,” Rep. Adam Koenig, R-Erlanger, said of illegal sports betting. “Everybody knows it happens. But people who do it don’t have any protections and the state’s not reaping any benefits from it.”
For several years now Rep. Koenig has sponsored sports wagering bills, including House Bill 241 this session.
He says an estimated $2 billion is wagered illegally in Kentucky each year. Under HB 241, five percent of the net money the state receives from sports wagering would go to addiction prevention and treatment, with the rest going toward the state’s pension liabilities.
Author(s): Garrett Wymer
Publication Date: 7 February 2021
Publication Site: WKYT