KRS § 230.783 Wagers considered made in Kentucky -- Prohibited wagers -- Revocation of hub license -- Applicability of KRS 137.170, 138.510, and Chapter 230.

This section treats certain wagers tied to hub accounts as made in Kentucky, limits account holders to telephonic or electronic instructions, bars listed wagers from being processed through a hub, and risks revocation of a hub license for processing them.

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Jurisdiction: United States — Kentucky
Instrument: Act or statute
Version: Undated source snapshot
Language: en
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license compliance tax exemption wagers

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Provisions of KRS § 230.783 Wagers considered made in Kentucky -- Prohibited wagers -- Revocation of hub license -- Applicability of KRS 137.170, 138.510, and Chapter 230.

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230.783
KRS § 230.783 Wagers considered made in Kentucky -- Prohibited wagers -- Revocation of hub license -- Applicability of KRS 137.170, 138.510, and Chapter 230.
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AI-assisted research summary: This section treats certain wagers tied to hub accounts as made in Kentucky, limits account holders to telephonic or electronic instructions, bars listed wagers from being processed through a hub, and risks revocation of a hub license for processing them.

230.783 Wagers considered made in Kentucky -- Prohibited wagers -- Revocation of hub license -- Applicability of KRS 137.170, 138.510, and Chapter 230. (1) Any wager that is made for an account maintained with the hub operator shall be considered to have been made in the Commonwealth of Kentucky. (2) Account holders may communicate instructions concerning account wagers to the hub only by telephonic or other electronic means. (3) None of the following wagers shall be processed through a hub: (a) A wager on live racing accepted by a track; (b) A telephone account wager accepted by a track; (c) An intertrack wager accepted by a receiving track or simulcast facility; or (d) An interstate wager accepted by a receiving track or simulcast facility. (4) Any hub that processes any of the wagers delineated in subsection (3) of this section from a track, receiving track, or simulcast facility shall be subject to revocation of its hub license. (5) Except as provided in KRS 230.752, nothing in KRS 230.775 to 230.785 shall exempt racetracks or simulcast facilities from any taxes imposed under KRS 137.170, 138.510, or Chapter 230. Effective: July 14, 2022 History: Amended 2022 Ky. Acts ch. 124, sec. 25, effective July 14, 2022. -- Created 2004 Ky. Acts ch. 173, sec. 6, effective July 13, 2004.

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KRS § 230.783 Wagers considered made in Kentucky -- Prohibited wagers -- Revocation of hub license -- Applicability of KRS 137.170, 138.510, and Chapter 230.

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Provisions of KRS § 230.783 Wagers considered made in Kentucky -- Prohibited wagers -- Revocation of hub license -- Applicability of KRS 137.170, 138.510, and Chapter 230.

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