More than 1.2 million attempts were made in the state of Kentucky to place bets on sporting events since March 1, 2023, according to data from GeoComply, a geo-validation company specializing in fraud prevention and cybersecurity solutions.
During the month that has included the 2023 NCAA men’s and women’s basketball tournaments, as well as individual conference basketball tournaments, GeoComply reported blocking approximately 1.28 million attempts from within Kentucky to access/place a wager in a state that has legal sports betting.
“With another border state in Ohio enacting legal sports wagering in January 2023, the number of attempts by Kentuckians to make wagers on legal sportsbook platforms provided in the neighboring states has more than doubled, up from 532,000 attempts made in March of 2022,” said GeoComply’s John Pappas. “Since the beginning of this month, our data also identified 62,000 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 Michael Meredith, the sponsor of House Bill 551 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.
“This data provides further proof that Kentucky should legalize sports betting in 2023 and capture the tax revenue that other states are raking in from the citizens of the Commonwealth,” Meredith said. “House Bill 551 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 551 passed the Kentucky House of Representatives on March 13 by a vote of 63-34, and is now in the Senate, where the bill passed the Licensing and Occupations Committee 9-1 and has been given two readings.
The final two days of the 2023 legislative session of the Kentucky General Assembly are March 29-30.
Stay tuned to The Bottom Line for more legislative updates.