Well over half a million attempts were made in the state of Kentucky to place bets on sporting events during the month of March, according to data from GeoComply, a geo-validation company specializing in fraud prevention and cybersecurity solutions.
During a month which included the 2022 NCAA men’s and women’s basketball tournaments, as well as individual conference basketball tournaments, GeoComply reported blocking more than 530,000 attempts from within Kentucky to access/place a wager in a state that has legal sports betting.
“Not surprisingly, about 85 percent of these attempts were made on legal sportsbook platforms provided in the neighboring states of Indiana, Tennessee, and Virginia,” said GeoComply’s John Pappas. “Over this same period of time, our data also identified 41,000 unique sportsbook player accounts in Kentucky. Obviously, these player accounts can only successfully place a bet when they travel out of the state and into a legal jurisdiction.”
Representative Adam Koenig, the sponsor of House Bill 606 to legalize sports wagering in Kentucky, said GeoComply’s data is further proof that Kentucky is missing out on tax revenue by not allowing legal sportsbooks in the Commonwealth.
“Although this comes as no surprise to me personally, this data provides further evidence that Kentucky should legalize sports betting in 2022 and capture the tax revenue that other states are raking in from our constituents and citizens,” Koenig said. “House Bill 606 will bring sports betting in Kentucky out of the shadows and provide regulatory protections Kentuckians need to place bets safely and without having to make frequent trips to border states.”
House Bill 606 passed the Kentucky House of Representatives in March by a vote of 58-30, and is now in the Senate, where the bill has been given two readings, but has not yet received a committee hearing.
The Kentucky General Assembly will meet for its final two days of the 2022 legislative session on April 13th and 14th.
“I’m committed to doing everything in my power to get House Bill 606 across the finish line in the Senate and delivered to the Governor’s desk in the last two days of session,” Koenig said.
Stay tuned to The Bottom Line for more legislative updates.