Sports betting goes online in Kentucky Thursday morning
LOUISVILLE, Ky. (WDRB) -- Sports betting officially goes online in Kentucky on Thursday.
Beginning at 6 a.m., sports fans in Kentucky that are 18 and over can start downloading apps and placing legal wagers on their smartphones and other devices.
Wagering in the Commonwealth kicked off in early September at eight sports book locations, and with the addition of bets placed on websites and mobile apps, the competition for wagers goes up along with the potential revenue for the state.
Eight online betting platforms have been granted temporary licenses:
- BetMGM
- Caesars
- DraftKings
- Circa
- Bet365
- FanDuel
- Penn
- Fanatics
A number of those providers will also operate the retail sportsbooks in person at tracks and gaming facilities. A ninth provider — Kambi — offering retail only was also licensed.
In the first two weeks of onsite wagering, Gov. Andy Beshear said Kentucky brought in $4.5 million. The pace is expected to pick up significantly, as mobile wagering launches, he said at a news conference.
Sports wagering facilities opened across the Bluegrass State on Sept. 7 in the first phase of the rollout, made possible when the Legislature finished work on a bill to legalize, regulate and tax sports wagering in late March during the final hours of its annual session. Beshear quickly signed the measure into law.
The Kentucky Horse Racing Commission has approved the following race tracks and gaming facilities to partner with sportsbooks:
- Churchill Downs
- Derby City Gaming
- Cumberland Run
- Ellis Park
- Oak Grove
- Red Mile
- Sandy’s Gaming and Racing
- Turfway Park
The Kentucky Horse Racing Commission's Sports Wagering Advisory Council released a wagering catalog last month listing all the sports you can bet on, including NFL games, MLB games, college football, basketball and more. But the list goes beyond major sports: darts, volleyball, cornhole, and table tennis are also included.
Beshear placed the first sports bet at Churchill Downs fulfilling a pledge that his administration would launch sports wagering in time for the NFL regular season. Opening day for sports betting came on the same day as the NFL’s first game of the season.
Beshear pushed to legalize sports betting throughout his term. The governor is seeking reelection this year, and his Republican challenger, Daniel Cameron, has also touted what he sees as the economic benefits of sports wagering for Kentucky.
Starting Sept. 28, Kentuckians can begin placing sports wagers on their smartphones. In preparation for the mobile opening, people can create an account and deposit money into licensed mobile wagering applications.
Apps like DraftKings, FanDuel, BetMGM and Bet365 offered incentives for Kentucky residents that download the apps and set up accounts. WDRB has partnered with XL Media on a Sports Betting page on our website and news apps to connect viewers. .
Robert Linnehan, a reporter with XL Media covering the legalization of sports betting across the country said 95% of people spend money online, so wagering online is expected to do well.
"It's by far the easiest way to bet on sports. It's by far the most lucrative way to bet on sports. It's going to be wild to see how much Kentuckians really sort of dip their feet into the market here," Linnehan said.
Kentucky lawmakers established a new excise tax on sports wagering: 9.75% on the adjusted gross revenues on wagers made at a licensed facility and 14.25% on wagers placed online or on a smartphone.
Once fully implemented, sports wagering is projected to generate about $23 million in yearly revenue for the state, although some supporters predict higher amounts. Most of the revenue will flow into Kentucky’s public pension system. It also will stop the siphoning of revenue to other states where Kentuckians previously placed sports bets, supporters said.
But critics of sports betting see it as an addictive form of gambling that will hurt Kentucky families. A small percentage of sports wagering tax revenue will flow into a fund to help combat problem gambling.
There is help available by calling or texting 1-800-GAMBLER (1-800-426-2537) or visiting Kentucky Gambling Help by clicking here.
