How Does The IRS Know If You Won Money Gambling?Īll betting operators are required to issue a Form W-2 G, Certain Gambling Winnings, to anyone that wins an amount that breaches the following thresholds: So, almost five years since the federal ban on sports wagering was struck down, Kentucky was finally able to pass a bill to legalize online betting. In 2022, a bill to legalize sports betting in Kentucky passed through the house but failed in the Senate. Kentucky sportsbook apps can go live three weeks later on September 28, 2023. The Kentucky Horse Racing Committee (KHRC), which regulates sports betting in the state, recently confirmed Kentucky sportsbooks launch date as September 7, 2023, at retail racetrack locations.
Andy Beshear signed sports betting bill HB 551 into law. Mawas a milestone day in the history of Kentucky sports betting laws.
