The Kentucky Senate passed SB74 today, a bill that would enable a lottery game based on the results of live horse racing, by a margin of 22 – 9 today in a morning session at the State Capitol in Frankfort, Kentucky. The bill creates a new designation called a shared lottery game that builds off of KRS 154A.065 titled “Contests involving horses may be basis of a lottery.”
“We are obviously thrilled by this result and look forward to sharing our vision for EquiLottery to members of the Kentucky House in the coming weeks,” said EquiLottery CEO and inventor Brad Cummings. “We are passionate about delivering the excitement of live horse racing to the nearly 3,000 lottery terminals in Kentucky while helping to send more Kentucky students to college through the scholarships our lottery supports. In fact, EquiLottery delivers a higher rate of return to education funds than most games the lottery currently offers. This is a good day for the Commonwealth, its signature horse industry and future generations of Kentuckians.”
The bill spells out the integration between lottery terminals and racing pools that is the basis for a game like EquiLottery. This leverages existing prize pools already populated with horseplayer money, which creates dynamic payouts to lottery players and removes jackpot risk associated with other lottery games. The bill ensures a shared lottery game will only be offered through lottery terminals and that all contests will be based on “live or future horse races.” Additionally, it guarantees regulatory oversight by the Kentucky Lottery and Kentucky Horse Racing Commission.
Earlier in the week, SB74 passed through the Senate Licensing, Occupations and Administrative Regulations Committee by a unanimous vote. SB74 was sponsored by Sen. Julie Raque Adams (R – Louisville) and co-sponsored by Sen. Damon Thayer (R – Georgetown) and Sen. Morgan McGarvey (D – Louisville). The bill will move on to the Kentucky House next week.
More from Canadian Thoroughbred:
