Business
10:15 am
Mon October 15, 2012

Kentuckians Spending Big on "Off-Site" Wagering

For the first time, the state has official figures on how much money Kentuckians bet online or over the phone on horse races that take place in the commonwealth. State Senator Damon Thayer says about $47 million was wagered in the first half of the year.

Thayer says the numbers are available because of a bill that passed earlier this year in the state legislature. The measure was sponsored by Rep. Larry Clark and levies a tax on advanced deposit wagering by in-state bettors for the purpose of boosting purses at Kentucky race tracks.

The Kentucky House Appropriations and Revenue Committee was told in February that overall betting on horse races has declined, while at the same time advanced deposit wagering is increasing.