Everything You Need to Know About the Sports Betting Launch in Kentucky
Kentucky’s highly anticipated legal sports betting platform finally went live on September 7, with Governor Andy Beshear placing the state’s inaugural legal sports bet at 10 a.m. ET at Churchill Downs in Louisville, KY.
After much anticipation, the state of Kentucky, known for hosting the prestigious Kentucky Derby, has finally joined the ranks of legal sports betting. Kentucky is now the 35th state in the U.S. to legalize sports betting.
Below is a comprehensive guide to Kentucky’s sports betting launch.
The When
Retail sports betting began on Thursday, September 7, coinciding perfectly with the kickoff of the 2023-24 NFL season.
An extremely popular and comprehensive mobile sports betting platform, dominating 85% to 99% of wagering activity in the majority of legal sports betting states, is set to launch on September 28th.
Before Kentucky sports betting apps launch, residents can still enjoy placing bets in person at one of the many horse racing tracks in the state.
The Where
The physical sports betting establishments in Kentucky are the first to begin accepting bets. These locations consist of:
- Churchill Downs
- Cumberland Run
- Derby City Gaming
- Ellis Park in Henderson
- Newport Racing and Gaming
- The Mint Gaming Hall at Cumberland Run in Corbin
- The Mint Gaming Hall at Cumberland Run in Williamsburg
- Oak Grove
- Turfway Park
Sandy’s Gaming and Racing will soon provide retail sports betting services.
The What
The Kentucky Horse Racing Commission announced last week the list of sports and bet types that will be accessible to Kentucky sports bettors beginning on September 7th.
The commission will provide Kentuckians with a wide variety of bet types to choose from, allowing them to take full advantage of their options. These include:
- Single-game bets
- Teaser bets
- Parlays
- Over/Under bets
- Moneyline bets
- Pools
- In-game wagering
- In-play bets
- Prop bets
- Straight bets
Kentucky residents can place bets on a variety of sports and events, including:
- NFL
- MLB
- NHL
- NBA
- WNBA
- NCAA baseball, softball, basketball, football, and hockey
- XFL
- USFL
- CFL
- PGA
- LIV Golf
- eSports
- Nippon Professional Baseball (Japan)
- FIBA-sanctioned basketball events
- Cycling
- Boxing
- Motorsports
- Netball (ANZ Premiership and Super Netball)
- Sailing (Americas Cup)
- X Games
- Winter and Summer Olympics
- Major League Eating-sanctioned events
- Nathan’s Famous Hot Dog Eating Contest
Interestingly, Kentucky bettors are not allowed to wager on horse and dog racing, pickleball, Awards shows, markets related to injuries, penalties, replays, and disciplinary actions.
Retail stores will still be able to accept horse and dog racing bets, as they are currently the only legal sports bets allowed in the state.
It is hoped that the “omission list” will be addressed before or soon after the launch of the best sports betting apps in Kentucky.
The Who
On September 7, bettors in Kentucky who are 18 years and older were granted the ability to place sports bets. This sets Kentucky apart from the majority of the other 34 states where the legal age for sports betting is 21.
Many Kentucky sports betting sites offer the option to pre-register for their mobile platforms, each offering a generous welcome bonus.
The Why
Sports betting is a thriving industry in the U.S., with states that have legalized it reaping significant tax revenue from the providers.
In Kentucky, retail sports betting will be subject to a 9.25% tax, while mobile revenues will be taxed at 14.25%. The licensing fee for Kentucky sports betting sites will be $500,000, with a $50,000 renewal fee.
Experts predict that the Kentucky legal sports betting industry has the potential to generate $23 million in annual tax revenue for the state.
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