Kentucky Horse Racing Commission unanimously approves sports betting regulations

LOUISVILLE, Ky. (WAVE) - Betting on your favorite team is about to become legal in Kentucky.

After unanimous approval by the Kentucky Horse Racing Commission of a package of new betting regulations, Governor Beshear signed emergency regulations into effect that would allow sports betting to start in time for the NFL season.

“You look back at the last Super Bowl and how much was bet nationwide, and you see what we lost out on,” Beshear said. “And that’s why I am confident we will exceed this initial revenue estimate.”

Sports betting supporters predict $23 million in annual revenue.

On Tuesday, state racetracks and their off-track locations can apply for a license.

People can place bets in person at licensed track locations starting September 7.

Betting on mobile phones won’t begin until September 28.

“I am confident that on September 7 and then on September 28 it’s going to work,” Beshear said. “It’s going to be a pretty seamless experience for those spending their entertainment dollars.”

Kentucky is the 37th state to legalize sports betting.

“So I will be excited to make the first bet in the Commonwealth of Kentucky,” Beshear said. “I’ve been for sports betting since I began running. I believe we can do this responsibly. I believe that this administration and general assembly will get it done. I’ll be proud to make that first bet.”