Bet365 and ESPN BET emerge as Kentucky sports betting license applicants, BetRivers and WynnBET noticeably absent
On June 28th of this year, Kentucky’s Governor Andy Behear legalized sports betting in KY. The initiation of retail sports wagering in the Bluegrass State is set for September 7, 2023, with the digital KY sports betting operators launching on September 28, 2023. Highlighting recent advancements since that date, the Kentucky Horse Racing Commission unveiled the names of seven online sportsbooks seeking a license to operate in KY. While it was anticipated that FanDuel, BetMGM, and Caesars would join the fray, the roster also boasts some surprising entries and absences.
- FanDuel
- BetMGM
- Caesars
- DraftKings
- Bet365
- Circa
- Penn Sports Interactive (ESPN BET)
It was already known that Caesars Kentucky, BetMGM Kentucky, and FanDuel Kentucky had intentions to operate, preceding the KHRC’s disclosure. Let’s delve into the unexpected details that followed.
Currently, Bet365 is active in a handful of states: New Jersey, Ohio, Iowa, Virginia, and Colorado. There has been little industry buzz hinting at the British sportsbook’s plans to venture into Kentucky. Whenever launching in new states, Bet365 usually presents a tempting “Bet $1, Get $365 in Bonus Bets” offer—by far the most generous and recurring promotion available to US bettors. Thus, the prospective entrance of Bet365 into Kentucky is a game-changer, potentially reshaping the promotional landscape as sportsbooks vie to roll out the most compelling promo offers for Kentucky’s sports betting launch.
Penn Sports Interactive has had an eventful week, to say the least. They divested Barstool Sports, selling it back to owner Dave Pourtnoy for a mere $1. At the same time, PSA clinched a $1.5 billion, decade-long agreement with ESPN to unveil ESPN BET, anticipated to be a major force in the industry. Penn State Interactice’s appearance on the Kentucky applicants’ list hints at the introduction of a new, immensely financed contender in the KY sports betting market, and its future moves remain unpredictable.
There’s been considerable chatter among industry aficionados that BetRivers Kentucky’s debut was imminent. This makes the absence of Rush Street Interactive, the umbrella company of BetRivers, from the KHRC’s applicant lineup quite remarkable. However, it’s pivotal to remember that the Kentucky Horse Racing Commission hasn’t claimed to have revealed every applicant. While there’s potential for RSI to declare its entrance into Kentucky, anticipation for such an announcement is waning.
WynnBET was often touted as a likely contender in the Kentucky arena. Yet, with Wynn Resorts’ startling revelation on Friday about WynnBET winding down operations in many regions, primarily because of significant losses stemming from affiliate acquisition initiatives, the chances of seeing WynnBET in Kentucky have grown slim.
We’ll keep updating you on the evolving mobile sportsbook scene in Kentucky, especially with growing whispers suggesting that DraftKings is poised to announce its Kentucky debut soon.
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Mac Douglass is the Senior Sports Betting Editor at Cipher Sports Technology Group. In addition to covering the sports betting industry for several news sites across the US, Mac provides Formula 1 analysis and betting tips for Dimers.com, and tennis commentary for Stats Insider.
