FRANKFORT- A bill to legalize sports betting in Kentucky got its first hearing Wednesday. 

House Bill 175, sponsored by Rep. Adam Koenig, R-Erlanger, was presented in a House committee. The bill would allow for sports wagering, online poker and fantasy sports, including betting on both professional and collegiate sports. With an exception made for universities in Kentucky, which would be banned under the legislation. 

The bill would allow for wagering at any horse racing track and the Kentucky Speedway, and would require users to register in person to bet, but would be able to use an app once they have signed up. 

The on-site registration is a cause of concern for Fantasy Sports site FanDuel, who believe that makes it too burdensome for people to legally place bets. But bill sponsor Rep. Koenig says it is necessary to ensure he can get enough votes to pass the bill. 

"In order to get the support of a lot of rural legislators, which I'm going to need to do, they need to know that it's going to take an affirmative action and some effort on their part to get that done," he explained after the meeting. 

It's estimated it will bring in between $20 to $48 million annually--not including the revenue off taxes and licensing fees. John Farris, with Commonwealth Economics, says the amount of revenue depends on whether surrounding states legalize sports betting as well. Both Indiana and Tennessee have legislation pending to do just that, if they pass--then Kentucky can expect revenues on the lower end. Between $5-$8 million of the revenue will go toward addiction services and cost of regulation, the remaining funds would go toward the state's massively underfunded pension system. 

While it is not much, Koenig says every little bit helps. 

"We didn't get in this problem overnight, we aren't going to solve it overnight," he said. "We are getting to death by a thousand cuts and we need to heal all of them one at time. And this is part of the fix." 

Of course--there are various opponents of the bill. The Family Foundation has several issues with legalizing sports betting in Kentucky, including the constitutionality of it. 

"The sports wagering bill, as is with most gambling legislation, is an attempt by the gaming industry to slip daylight past the rooster, so they don't have to amend the Kentucky Constituition" said Stan Cave, a lobbyist for the Family Foundation. "I want to ask yourself when looking at this legislation, is the sports wagering bill constitutional? Currently, Section 226 of the Kentucky Constitution authorizes three forms of gaming: a state lottery, charitable bingo, and parimutuel wagering on horse racing. That's it." 

Rep. Koenig isn't concerned this bill is unconstitutional, and believes regardless of the contents they can expect a legal challenge. 

"Those fine folks are going to sue us anyway, so we'll just figure it out," said Rep. Koenig. "I'm hopeful that when it passes, we will at least have the opportunity to go forward and get it started because I don't think there is much harm in people placing wagers." 

Another hurdle for the bill is getting the 60 votes need to pass. In odd numbered years, revenue bills must get a 3/5 majority to pass. Despite that, Koenig believes they can do it. 

"We are trying to figure out if we can get to that 60, and it's going to take a bipartisan effort. We need both sides to vote their conscious," he said. "The revenue is important to some folks, the freedom is important to others, folks vote their conscious rather than playing politics."

If the bill does make it through the legislature, the challenges don't stop there. Notoriously anti-gambling Gov. Matt Bevin, R-Kentucky, still isn't sold on the idea. 

"I think the juice isn't going to be worth the squeeze. If people are honest about what it has the potential to generate in terms of revenue it is so small. The few million dollars that it might generate is not worth in my estimation the amount of infrastructure, the amount of regulation, the amount of oversight, that is going to be required in order to administer such a thing," he said. 

Gov. Bevin did not say he would for sure veto the measure, however. 

"Is it worth a few million dollars? These are the questions I would be asking, and I hope our legislators will ask as well as they consider this," he said. 

Koenig says he plans to have the bill to the governor's desk by the 28th day--meaning if he does veto it, the legislature will have time to override it.

HB 175 was only up for discussion in committee Wednesday, but Koenig told members of the committee it could be back in next week.