(1) Except as provided in KRS 230.805(6), no person shall conduct, manage, or offer to conduct sports wagering within the Commonwealth of Kentucky without obtaining a license from the corporation.
(2) As a prerequisite to obtaining a sports wagering license, a person shall be licensed as an association under KRS 230.300. If sports wagering is conducted by the track that chooses not to contract with a service provider, it shall comply with the standards established by the corporation for service providers to ensure the integrity of the system of sports wagering before conducting sports wagering in the Commonwealth.
(3) In addition to the requirement in subsection (2) of this section, an initial fee of five hundred thousand dollars ($500,000) shall be paid to the corporation before a sports wagering license may be issued to a track.
(4) An annual renewal fee of fifty thousand dollars ($50,000) shall be required for each sports wagering license.
(5) Licensing fees under this section shall be paid to the corporation.