Gambling in the United States is a heavily regulated industry. Each state has its own laws and regulations governing gambling, including horse racing. In Kentucky, bettors must be at least 18 years old to place wagers on horses.
History of Horse Racing in Kentucky
Horse racing has been a part of Kentucky’s history for centuries. The state is home to the Kentucky Derby, the most famous horse race in the world. The first running of the Kentucky Derby was held in 1875 and it has been held every year since then. The Kentucky Derby is the first leg of the Triple Crown, which also includes the Preakness Stakes and the Belmont Stakes.
Gambling Laws in Kentucky
Gambling in Kentucky is regulated by the Kentucky Horse Racing Commission (KHRC). The Kentucky General Assembly approved legislation in 2018 to allow the KHRC to regulate online horse racing and wagering. Under Kentucky law, it is illegal to operate a casino, but there are several racetracks in the state that offer pari-mutuel wagering.
Minimum Age to Bet on Horses in Kentucky
In Kentucky, the minimum age to bet on horses is 18. According to the KHRC, anyone under the age of 18 is prohibited from placing wagers on horse races. The KHRC also requires all bettors to provide proof of age when placing a bet.
Online Horse Racing in Kentucky
The KHRC approved legislation in 2018 to allow for online betting on horse races in Kentucky. Online betting is available through the “TwinSpires” website, which is owned and operated by Churchill Downs, the company that owns and operates the Kentucky Derby. Online wagering is subject to the same age restrictions as in-person betting, and anyone under the age of 18 is prohibited from placing online bets.
Types of Bets Available in Kentucky
In Kentucky, bettors can place wagers on a variety of horse racing events, including the Kentucky Derby. Some of the most common types of bets available in Kentucky include:
- Win: Bet on a single horse to win the race.
- Place: Bet on a single horse to finish first or second.
- Show: Bet on a single horse to finish first, second, or third.
- Exacta: Bet on two horses to finish first and second in exact order.
- Trifecta: Bet on three horses to finish first, second, and third in exact order.
- Superfecta: Bet on four horses to finish first, second, third, and fourth in exact order.
Where to Bet on Horses in Kentucky
In Kentucky, there are several racetracks that offer horse racing and pari-mutuel wagering. Some of the most popular tracks in the state include:
- Churchill Downs (Louisville)
- Keeneland (Lexington)
- Turfway Park (Florence)
- Ellis Park (Henderson)
- Red Mile (Lexington)
Betting Limits in Kentucky
In Kentucky, there are no limits on the amount of money you can wager on a single horse race. However, the KHRC does limit the number of races that a bettor can wager on in a single day to 10.
Taxes on Horse Racing Winnings in Kentucky
Under federal law, horse racing winnings are subject to a 25% tax. In addition, Kentucky also taxes horse racing winnings at a rate of 3%. The taxes will be deducted from your winnings before you receive your payout.
Responsible Gambling in Kentucky
The KHRC encourages all bettors to gamble responsibly. The KHRC has a Responsible Gaming program in place to help individuals and families affected by problem gambling. The program provides resources and support to help individuals and families manage their gambling.
Conclusion
In Kentucky, the minimum age to bet on horses is 18. Bettors must provide proof of age when placing a bet and are limited to 10 races per day. There are several racetracks in the state that offer pari-mutuel wagering, and online betting is available through the “TwinSpires” website. Horse racing winnings are subject to both federal and state taxes, and the KHRC encourages all bettors to gamble responsibly.