Days after the latest failure of a bill to tax Kentucky residents’ wagers made through account wagering services like Churchill Downs Inc.’s TwinSpires.com, the Kentucky Horse Racing Commission released the answer to a long-asked question: Just how much do Kentuckians bet through advance deposit wagering (ADW) companies?
In 2012, that turned out to be $142.7 million. By far, the two largest were TwinSpires ($63.8 million) and Betfair’s TVG ($53.96 million). The Stronach Group’s XpressBet was a distant third at $14.38 million. Six other companies were licensed.
The reporting was created by a state law that licensed the ADW companies and requires them to report what Kentucky residents bet.
The debate in the legislature appears to hinge on whether the tax rate for ADW bets by Kentuckians should be a half percent or 1.5 percent, like other traditional wagers. In 2012, that would have been a pool of either $713,616.41 (at a half percent) or $2.14 million (at 1.5 percent).
Pin It