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Can you summarize KYRS 230.811?
HORSE RACING COMMISSION > License required to conduct sports wagering -- Prerequisites to obtaining sports wagering license -- Fees.
Short Summary
This legal document governs the conduct, management, and offering of sports wagering within the Commonwealth of Kentucky. It states that no person shall engage in sports wagering without obtaining a license from the racing commission, except as provided in KRS 230.805(6). To obtain a sports wagering license, a person must first be licensed as an association under KRS 230.300. If a track chooses not to contract with a service provider, it must comply with the standards established by the racing commission for service providers before conducting sports wagering. Additionally, a track must pay an initial fee of $500,000 to the racing commission for the issuance of a sports wagering license, and an annual renewal fee of $50,000 is required for each license. The licensing fees collected are deposited into the sports wagering administration fund established by KRS 230.817. The document was created by the 2023 Kentucky Acts, Chapter 147, and became effective on June 29, 2023.
Whom does it apply to?
Any person who wishes to conduct, manage, or offer sports wagering within the Commonwealth of Kentucky
What does it govern?
Conduct, management, and offering of sports wagering within the Commonwealth of Kentucky
What are exemptions?
The document does not provide any specific exemptions.
What are the Penalties?
Not specified.
Jurisdiction
Kentucky