New Kentucky bet tax proposed

A Kentucky legislator has introduced a bill that would place a one-half percent tax on all wagers made by Kentucky residents through account-wagering operations, according to legislative records.

Rep. Larry Clark, a Democrat from Louisville who is the speaker pro tem, introduced the bill on Wednesday to the House. As of Thursday afternoon, it had not yet been scheduled to be heard.

The bill would require the tax to be split three ways, with one-third going to the Kentucky Racing Commission, the state's regulatory authority, another third going to the racetrack that is running a live race meet at the time, and the other third going to the purse account at the live racetrack.

The tax would be added to the takeout, so it is likely that account-wagering companies would pass that cost on to their customers.