SPORTS BETTING
US – Kentucky names runners and riders for September’s sports betting launch
By Phil - 23 August 2023
Kentucky Governor Andy Beshear has announced that the Kentucky Horse Racing Commission (KHRC) voted to approve temporary licenses for sports wagering operators and service providers.
A temporary license grants up to one year of operation in the state while under continued review. With the approval of these licenses, Kentucky bettors now know the retail facilities where they can place a sports wager and which mobile applications will be licensed in the state.
“The countdown continues as we move closer to sports wagering with retail locations opening in just 16 days,” said Gov. Andy Beshear. “Thank you to the KHRC commissioners for their dedication to getting this done right and getting it done in time for the opening of the NFL season.”
“We are excited to open sports wagering on our target date as we continue working through this careful process dedicated to wagering integrity and protecting bettors in the state of Kentucky,” said KHRC Chairman Jonathan Rabinowitz.
The following Kentucky racetracks and their satellite facilities were approved to open a sportsbook with a planned retail opening on September 7:
- Churchill Downs, Louisville
- Derby City Gaming, Louisville
- Ellis Park, Henderson
- The Mint Gaming Hall Cumberland Run, Corbin
- The Mint Gaming Hall Cumberland, Williamsburg
- Newport Racing and Gaming, Newport
- Oak Grove Gaming and Racing, Oak Grove
- The Red Mile, Lexington
- Turfway Park, Florence
The following were approved, with facilities coming soon: - Derby City Gaming, coming soon to downtown Louisville
- Ellis Park, coming soon to Owensboro
- Sandy’s Gaming and Racing, coming soon to Ashland
The KHRC also voted to approve temporary licenses for nine service providers. Eight will operate mobile applications in Kentucky. Kambi was approved as a service provider for retail operations and will not have a mobile application. The service providers licensed to operate a mobile sports wagering application starting Sept. 28 are: - Bet365
- BetMGM
- Caesars
- Circa
- DraftKings
- Fanatics
- FanDuel
- Penn Sports Interactive
Sports wagering is expected to increase the state’s revenue by an estimated $23 million a year upon full implementation. The increase in revenue will support the oversight of sports wagering and then be dedicated to the Kentucky permanent pension fund. Additionally, 2.5 per cent will support the problem gambling assistance account operated by the Cabinet for Health and Family Services. - House Bill 551 established a new excise tax on sports wagering: 9.75 per cent on the adjusted
gross revenues on wagers made at a licensed facility and 14.25 per cent on wagers placed online
or on a smart phone.
