Kentucky Sports Betting 2023: Best Sportsbooks & Launch Timeline
Online betting is becoming more popular in the U.S. as states legalize sports betting. In Kentucky, online sports betting is legal thanks to the Kentucky sports betting bill HB 551. You can learn about all things related to sports betting in the Bluegrass State in this piece.
Everything you need to know about Kentucky sports betting
Potential Kentucky Sportsbooks
While Caesars Sportsbook was the first sportsbook to confirm its entry into Kentucky after announcing a partnership with Keeneland Racetrack and Red Mile Racing, we are seeing additional information trickle in about partnerships between horse racing facilities and sports betting sites. FanDuel announced a partnership with Churchill Downs, but the agreement appears to be online-only.
All sportsbooks that want to operate in Kentucky will need to receive a license from the Kentucky Horse Racing Commission, which is the agency in charge of overseeing sports betting in the state.
Up to 27 online sports betting licenses are up for grabs in the state, with the sportsbooks below being the ones we think have the most likely chance of being confirmed to be in the state.
Best Kentucky sportsbook promotions
Each sportsbook that operates in Kentucky will have some sort of welcome promotion for their new players that compensates them with some type of reward.
Welcome offers can vary from first bet offers like BetMGM or Caesars has that gives you a second chance on your first bet if you’re incorrect to bet and get offers that guarantee you a certain amount of bonus bets following the settlement of your first wafer.
BetMGM Kentucky
BetMGM Sportsbook is one of the biggest sports betting sites in the U.S. and is expected to be a day one option for the Kentucky online sports betting launch.
The welcome offer BetMGM will most likely offer is a first bet offer up to $1,000 that pays you back your first bet’s stake in the form of bonus bets if it doesn’t win.
BetMGM is home to a plethora of same game parlays that have strong odds and a strong selection of betting markets as a whole.
bet365 Kentucky
bet365 Sportsbook is expected to operate out of Kentucky on the state’s first day with legal sports betting, despite them only being available in five states currently.
The bet365 bonus code in the states they’re in gives out a bet and get welcome offer that credits the user with $200 in bonus bets following the settlement of a $1 qualifying wager.
You won’t find much for bet365 to improve on outside of their availability, as they have stellar promotions for returning customers and boosted odds wagers.
Caesars Sportsbook Kentucky
Another sportsbook joining BetMGM in being available on launch day will be Caesars Sportsbook. In fact, Caesars was the first to announce they’d be in Kentucky.
Caesars has a welcome offer currently for a first bet offer similar to BetMGM Sportsbook that lets the player wager up to a maximum amount of $1,250 on their first betting market instead of $1,000.
The promotions Caesars runs are typically profit boosts. They also have a decent amount of pre-built same game parlays for their players.
FanDuel Kentucky
FanDuel Sportsbook is the leading sportsbook in North America, and it should come as no surprise that they’re expected to be an option for Kentucky sports bettors right away.
It’s unknown what FanDuel’s welcome offer may be at this time, as they’ve rotated between a few different offers throughout the summer months thus far.
The FanDuel mobile app is one of the best rated apps you’ll find in the sports betting industry. Their easy to navigate interphase and ability to create parlays are second to none.
Fanatics Sportsbook Kentucky
Fanatics Sportsbook is another name like bet365 that’s not available in a wide number of states yet. To further that, Fanatics is currently still in beta testing.
Fanatics also offers a bet and get welcome offer that rewards $200 in bonus bets that are credited following the settlement of a $5 wager.
Even though it’s early, Fanatics has received good reviews from players who cite a strong selection of betting markets as a big strength.
WynnBET Kentucky
WynnBET Sportsbook is is most likely going to be live in the Bluegrass State with sports betting legal in Kentucky, although nothing is official yet.
The trend of bet and get welcome offers continue with WynnBET, as they make you bet $20 following sign-up to receive bonus bets.
Even though WynnBET might not be the first sportsbook that comes to mind, this is an all-around solid sportsbook that you can’t go wrong with if you’re looking for an extra platform to sign-up with.
DraftKings Kentucky
The final sportsbook on our list is DraftKings Sportsbook, which is also expected to receive a license to operate come Sept. 28′s launch date.
DraftKings rivals FanDuel as being one of the most successful and popular sportsbooks in North America.
Their platform is also easy to navigate and their mobile app is one of the finest you’ll come across. Throw in a bounty of odds boosts and promotions and you have one of the best sportsbooks in the U.S.
Anticipated retail sportsbooks in Kentucky
Nine different Kentucky horse racing tracks and operators will be allowed to partner with sportsbooks to produce retail sportsbooks in the Bluegrass State. A total of 14 venues are eligible to open a retail sportsbook, all of which are existing casinos or horse race tracks.
Caesars Sportsbook has already partnered with Lexington Trots Breeders and the Keeneland Association, with their respective racetracks being Red Mile and Keeneland.
What’s the difference between Kentucky mobile and retail sports betting?
Obviously, the biggest difference between retail and online sports betting is the way in which you wager.
But the difference between mobile sports betting and retail sports betting in Kentucky also comes down to the taxes that sportsbooks will need to pay.
According to HB 551, retail sportsbooks’ sports betting tax rate will be 9.75% of their gross revenue. However, online sportsbooks will have to pay a 14.5% tax on their gross revenue.
The other difference is the timeline of when these respective sportsbooks will launch, as retail sports betting is expected to go live just in time for the NFL season on Sept. 7, while online sports betting isn’t expected to go live until Sept. 28.
Choosing which sportsbook to use in Kentucky
1. Bet Types, Parlay Options, etc.
When looking at betting markets on the sportsbook of your choice, you don’t want to be limited to a select few wagering options.
Especially if you’re someone who likes to make parlays when you bet online, having a deep selection of prop bets and wagers to throw into a parlay is a big thing that could determine whether you commit to using that site or not.
2. Competitive Odds & Odds Boosts
Another important thing for any sports betting platform is having competitive odds. Competitive odds mean you’ll win a decent amount of money if your wager is correct.
Odds boosts are more visible on some sports betting sites than others, but odds boosts can increase the price of your odds and potentially win you more money if your wager is correct.
3. Strong New Customer Welcome Offer
As a new player, having a generous welcome offer can be the deciding factor of whether or not you give a sportsbook a shot.
There are multiple types of bonus bet welcome offers sportsbooks employ, such as first bet offers and bet and get offers, with you getting to decide which sounds best for you.
4. Promos For Existing Users
After you’ve used your welcome offer, something that can determine whether you keep using that sportsbook or not is whether or not they run promotions for existing users.
Types of promotions can include parlay insurance, deposit matches, and more. With Kentucky sports betting’s launch coming around the same time as the start of the NFL season, there will likely be promotions on most platforms.
5. Easy-to-use Mobile App
Sports betting apps are becoming more popular than ever, with them being a much easier way to enjoy your sports betting experience than on a website through your phone or desktop.
One of the easiest ways to see what the best sports betting apps are is to look up their ratings on the Apple App Store or Google Play Store to see what fellow bettors have to say.
6. Competent Customer Service
The final thing to consider is something that you might not think about until you need it, which is having a competent customer service team to rely on for help.
Getting in contact with customer service can be done through many ways, such as a phone number, email, or a live chat box.
How to register with a Kentucky Sportsbook
Signing up with a sportsbook in Kentucky isn’t difficult and won’t take many steps at all. Most online sports betting platforms follow a similar type of registration process that include steps like entering your personal information, typing in your promo code, and making your first deposit.
Here is a five-part step-by-step guide that goes over how you can sign-up with most Kentucky sportsbooks:
Click on the offer modules from any of the Kentucky sports betting platforms mentioned above in this piece
After being taken to your sports betting site, begin entering your personal information so your sportsbook can verify your age, location, and identity
If your sportsbook’s welcome offer comes with a promo code to type in during sign-up, type it in when prompted
Read the terms and conditions your welcome offer has and make your first deposit. Most sportsbooks require $10 as a minimum deposit amount, but this can vary.
Kentucky sports betting timeline
The road to getting to where we are today where Kentucky sports betting is legal has been a long one with some failures along the way. But the bottom line is it’s legal now, with the timeline below showing all of the events that led to getting here.
Jan. 7, 2020: HB 137 was the first bill in the state with the intent of legalizing online sports betting. It failed to pass however, as the impending COVID-19 lockdowns would put a pause on the idea of online betting in the Bluegrass State.
Jan. 9, 2021: One year after failing to pass sports betting legislation, HB 241 was introduce and met the same fate as HB137.
April 14, 2022: HB 606 fails to pass the state Senate, marking yet another failure in Kentucky’s attempt to legalize online sports betting.
Feb. 22, 2023: HB 5551 is introduced by Re. Michael Meredith, with this bill differing compared to previous iterations in having the Kentucky Horse Racing Commission overseeing betting in the state.
Feb. 28 2023: Rep. Adam Koenig introduced HB 606, which passed by the House of Representatives one month later on March 18th, 2023.
Mar. 30, 2023: The state senate passes HB 551, and Gov. Andy Beshear wasted no time signing it into law one day later on March 31.
July 10, 2023: The Kentucky Horse Racing Commission announces online sportsbooks will go live on Sept. 7, 2023, while online sports betting will go live three weeks later on Sept. 28, 2023. The bill allows for nine retail sportsbooks and 27 online sportsbooks.
What is the legal age to bet in Kentucky?
Kentucky went against the grain with HB 551 by making the legal sports betting age in Kentucky just 18.
While most states in North America require you to be 21 or older, Kentucky joins New Hampshire and Wyoming as being the states where sports betting is legal in Kentucky at 18.
Betting on horse racing in Kentucky
When you think of horse racing, the Kentucky Derby and Kentucky Derby betting at Churchill Downs are likely the first things that come to mind.
Horse racing has been bet on in Kentucky and across the majority of the U.S. since the country’s inception. The reason horse racing could be bet on while sports betting wasn’t comes down to one loophole if you will.
In horse racing, you aren’t betting against the house like Caesars or FanDuel. Instead, in parimutuel betting you’re wagering against what other bettors believe will happen.
The Kentucky Derby is the biggest event in horse racing every year. By the time the 2024 race comes around, you’ll be able to wager on it more ways than ever before from Churchill Downs, any of the other retail sportsbooks, or the online sportsbook of your choosing.
Again, each of the nine racetracks in the retail sportsbook section mentioned above is allowed to partner with a sportsbook of their choosing.
TwinSpires
Of all the online horse racing betting platforms in North America, TwinSpires stands out as the top option in the industry. They have a sign-up offer that gives out bonus bets if you meet certain wagering requirements as a new player.
TwinSpires is the official betting partner of the Kentucky Derby and its headquarters is located in Lexington.
Daily fantasy sports in Kentucky
Despite sports betting just recently being made legal in Kentucky, a legal alternative that’s been around for quite some time in the state is daily fantasy sports with platforms such as DraftKings, PrizePicks, and Boom Fantasy.
Daily fantasy sports is a somewhat gray area, as it’s not legalized, but it’s also not illegal. As a result, you can play daily fantasy sports in Kentucky without needing to worry about penalty.
Ultimately, daily fantasy sports falls into the same category as horse race betting. Rather than betting on the house like you do on a sportsbook, you’re betting against other bettors. This loophole makes it so daily fantasy sports could be legal when sports betting wasn’t.
What sports can I bet on in Kentucky?
Kentucky residents will have no shortage of sporting leagues to bet on. Obviously, the main sports you’d expect to be able to wager on like the NFL, NBA, NHL, and MLB will all be eligible.
You can also wager on soccer, MMA, tennis, NASCAR, and smaller sports like darts or snooker. Not every sportsbook will have the same selection of smaller sports to bet on, so you might have to look around depending what you want to bet on.
Finally, you can wager on NCAA sports in Kentucky, including NCAA football and NCAA basketball. With the state not housing any professional sports teams, betting on the likes of Kentucky, Louisville, and other universities will be popular.
Kentucky sports teams to bet on
Kentucky Wildcats
The Kentucky Wildcats are a “Blue Blood” in the college basketball scene, with eight NCAA Tournament titles to their name. That ranks as the second most in NCAA history, with their most recent coming in 2012. The Wildcats are currently coached by John Calipari and play in the SEC.
Louisville Cardinals
The Louisville Cardinals are rivals with Kentucky despite playing in the ACC. Louisville has two NCAA Tournaments credited to their name, with a third in 2013 being vacated due to the infamous Rick Pitino scandal. Louisville is currently coached by Kenny Payne.
What can’t I bet on in Kentucky?
There are almost no betting markets you won’t be able to wager on in Kentucky. In terms of sports, everything is fair game, including college sports (Which differ from state to state in the U.S.)
But external things such as politics or entertainment awards aren’t able to be wagered on, which isn’t different in Kentucky compared to the rest of the country.
Expected payment options in Kentucky
When it comes to payment methods, each sportsbook operates a bit differently. Some methods are available with some platforms but not others.
Although it’s impossible to accurately predict what each individual platform’s deposit and withdrawal methods will be, we can acknowledge what the most common deposit and withdrawal options for sports betting platforms are in other states.
Deposit options
The most common ways you can make deposits are ways that don’t take much time to set up. Deposits will be made available right away and there are generally no fees for depositing or withdrawing funds.
Below is a list of the most popular ways of deposit you’ll be able to use on sportsbooks in Kentucky, as these methods are usable for every sportsbook in other states.
Credit Card/Debit Card
Bank Transfer
Wire Transfer
PayPal
Cash at casino cage
Withdrawal options
Withdrawing funds will come with slight changes to methods available, with the option to request an e-Check or physical check in the mail being added. These aren’t available with every sportsbook, but they are offered by some.
You’ll also need to keep in mind the minimum and maximum withdrawal amount, as that amount varies from platform to platform as well.
Debit Card
Bank Transfer
PayPal
e-Check
Physical Check
Kentucky Sports Betting FAQ
Is Kentucky sports betting legal?
Yes, the Kentucky Sports betting law HB 551 made online sports betting legal in the Bluegrass State. The law was passed and signed by Gov. Beshear on March 31, 2023.
Retail sports betting is also legal in Kentucky as part of this law, with September 2023 being the month anticipating players can expect to see sportsbooks become available.
What is the legal gambling age to bet on sports in Kentucky?
The minimum betting age requirement in Kentucky is 18, with them joining just New Hampshire and Wyoming as the states that don’t have 21 as the minimum legal gambling age.
Will I need to be a resident of Kentucky to place a sports bet?
No, you will not need to be a resident of Kentucky in order to place a sports bet. If you’re inside the state at any given time for whatever reason, you may place a wager on a Kentucky sportsbook.
This is true not just in the Bluegrass State, but across all legal sports betting states.
Where can I wager in Kentucky?
If you’re not looking to wager online, Kentucky will have up to 14 retail sportsbooks across the state. The full list of these locations is can be found above.
What is the best Kentucky Sportsbook?
Any of the sportsbooks mentioned atop this piece with their respective welcome offers can be considered the best sportsbook, as they each have their own strengths and weaknesses.
While it’s impossible to definitively rank the Kentucky sports betting sites, we can say that BetMGM, FanDuel, and bet365 are our favorites. But you also can’t go wrong with WynnBET, Caesars, DraftKings, or Fanatics.
The Inquirer is not an online gambling operator, or a gambling site. We provide this information about sports betting for entertainment purposes only.
