Kentucky Has a Tentative Start Date for Sports Betting
LISTEN TO THIS ARTICLE:Currently, about two-thirds of the US states offer regulated sports betting. Kentucky is about to join them, and a recent announcement by the state’s gaming regulator brings good news to football bettors.
Kentucky Heads to the Sports Betting Gates
The Kentucky Horse Racing Commission (KHRC) will initiate in-person pari-mutuel betting at various locations like racetracks and simulcast venues beginning September 7, the same day the NFL season kicks off. Additionally, the approval of the sports betting system by Kentucky's gaming regulator will allow online sports betting as of September 28.
This past Monday, the KHRC held a meeting and voted on the state’s approach to its sports betting rollout. This important vote took place more than three months after the Republican-dominated Legislature gave the green light to sports betting with a majority vote of 25-12.
Shortly after, Democratic Governor Andy Beshear showed his support by signing off on the decision, and sports betting became legal as of June 29 under the eye of the KHRC.
In addition to endorsing the track plan, Governor Beshear eagerly anticipates the economic advantages that will arise from sports betting. Kentucky is projected to reap $23 million annually in tax revenue and license fees through this initiative, potentially also invigorating interest in horse racing among track gamblers.
Bettors Get Ready for Football
The committee's endorsement aligned with Beshear's aspiration of launching the sports betting market to coincide with the NFL season's kickoff. It starts the same day the Kansas City Chiefs, the reigning Super Bowl champions, played in support of the Detroit Lions.
Turfway Park in Northern Kentucky and Ellis Park in Henderson, along with Derby City Stadium in downtown Louisville, will soon embrace sports betting. These prominent racetracks, owned by Churchill Downs Inc. (CDI), aim to provide enthusiastic bettors with an unparalleled experience. CDI is presently providing TwinSpires.com with services for online thoroughbred betting while also engaged in a deal with FanDuel to offer sports betting.
Red Mile Gaming and Racing will have a sportsbook at its Red Mile track in Keeneland. The track has formed a collaboration with Caesars Sportsbook in order to manage its sports betting.
Kentucky’s sports betting laws, which faced several hurdles before being approved, allow for up to nine retail sportsbooks. As of today, the licensed horseracing properties can apply for a license to be used at either their primary or satellite venues. These can partner with as many as three platforms for online betting.
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