Kentucky Full Steam Ahead With Online Sports Betting

Sports bettors in Kentucky are officially entering the digital age with the legalization of online sports betting. On June 28, 2023, the Kentucky sports gambling bill went into effect and became the 38th state to legalize sports betting in the US.

Three months later, the wait is over for sports betting enthusiasts. They can begin locking in their wagers at legal gambling establishments in the Bluegrass State.

Known as House Bill 551 in the Kentucky General Assembly, the Kentucky sports gambling bill enables bettors to wager on a wide array of sports. Just in time for football season, Kentucky gamblers can now bet at their favorite NFL betting sites.

Let’s take a deep dive into the details of the enacted KY sports gambling bill, and how it impacts bettors throughout the state. There are several specifics of the Kentucky sports betting bill in 2023 that gamblers should be aware of before placing a wager.

On March 31, 2023, Governor Andy Beshear signed House Bill 551.

“Now, after years, of urging action, sports betting is legal in Kentucky. We finally did it! Today’s result shows that hard work pays off,” Gov. Beshear shared. “Kentuckians will soon be able to place their bets here, and for the first time, we are going to keep those dollars here to support our economy and communities.”

Two weeks earlier, the Kentucky sports betting bill passed in the General Assembly with a vote of 63-34. Requiring 25 votes, House Bill 551 passed in the Senate chamber by a vote of 25-12.

Despite House Bill 551 passing and signed by Gov. Beshear in March, bettors have had to be patient. It wasn’t until September that Kentucky online betting launched in the state.

On September 7, 2023, sports betting at brick-and-mortar locations were opened to the public. Gov. Beshear signaled the beginning of legal sports betting in Kentucky by making the first bet at the Churchill Downs Race & Sports Book.

However, online sports bettors would have to wait until later in the month. On September 28, 2023, the Kentucky online gambling infrastructure was opened to residents of Kentucky.

Under the new Kentucky sports gambling bill, sports betting sites are legally allowed to accept wagers from customers. There are a number of betting apps that residents of Kentucky can use to place bets on their favorite teams.

Customers are able to bet on a wide range of wager types, including common bets like the point spread, moneyline, and the Over-Under in Kentucky. Furthermore, gamblers can bet on the winner of Super Bowl 58 and take advantage of prop betting in Kentucky.

In addition, the passing of House Bill 551 legalized sports betting in-person at land-based retail establishments. The language in the KY sports gambling bill permitted licenses to be awarded to horse racing tracks and at motorsport venue Kentucky Speedway.

With that in mind, gamblers can take in all the action at the Kentucky Derby, while betting on sports at the Churchill Downs Race & Sports Book. Churchill Downs isn’t the only racetrack embracing the Kentucky sports gambling bill.

As of October 2023, the following tracks have a license to accept sports bets in Kentucky:

Kentucky’s lawmakers wanted to keep the legal sports betting age in line with other gambling products in the state, such as horse racing and lottery games. Therefore, the legal age for sports betting in Kentucky is 18.

Government officials in Kentucky are optimistic that legal sports betting will be a windfall for the state. The race tracks and online sports betting operators will be responsible for paying an excise tax to Kentucky.

For wagers at licensed racetracks, a 9.75 percent excise tax on the adjusted gross revenue will apply. Conversely, online sports betting operators owe a 14.25 percent excise tax to the state.