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Saturday, March 5, 2011

Two KY racing bills headed to Governor

Bills authorizing participation in an interstate racing compact and some oversight of advance deposit wagering (ADW) companies have passed the Kentucky House and Senate and will go to Democratic Gov. Steve Beshear for his signature.

The National Racing Compact, would give state racing commissions the option—but not require them—to participate in the same rules and programs as other states. It would simplify procedures for horsemen that race in multiple jurisdictions.

Kentucky becomes the first major state to join; six member states are needed to launch the compact.
Click Here to learn more about the compact.
The ADW legislation calls for state licensing of advance deposit wagering companies with the KHRC and require them to provide quarterly reports on all wagers made on Kentucky races.

A portion of wagers made on Kentucky horse races goes into development funds - which boosts purses. That levy, however, doesn't apply to ADW wagers.

Neither bill offers immediate relief for the Kentucky horse industry while the Kentucky General Assembly 2011 session is wrapping up.

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