Sometimes things go as they should. And sports betting in Kentucky seems to be going along as it should.
According to plans unveiled by Governor Andy Beshear in mid-August, Kentuckians will be able to place bets in retail sportsbooks associated with the state’s horse tracks come September 7, opening day for the NFL regular season. Somewhat anticlimactic, selected online licensees open for betting business September 28.
“The countdown continues as we move closer to sports wagering with retail locations opening in just 15 days,” Beshear told the Associated Press. “Thank you to the Kentucky Horse Racing Commission (KHRC) for their dedication to getting this done right and getting it done in time for the opening of the NFL season.”
Kudos go to the commission, which voted to approve temporary participating retail licensees and mobile licensees on August 22. Within a year, they expect to become permanent…if they do their job right.
“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,” KHRC Chairman Jonathan Rabinowitz said in a statement.
This all began when lawmakers passed a sports betting measure at the end of their session in late March. The KHRC developed the regulations and sought applicants. Now that the launch is days away, spring has come and gone, summer has mostly come and gone, and it’s time for the bets to fly. The commission will also be responsible for oversight.
Outlined in a precise timeline, the rollout plan encompasses several key dates, such as:
- August 22 at 1:30 p.m.: The KHRC voted on license applications. Simultaneously, the roster of authorized retail facilities and endorsed mobile applications was unveiled.
- August 28 at 6 a.m.: Kentucky residents can pre-register online applications.
- September 7 at 6 a.m.: Individuals can deposit funds into their mobile accounts and begin wagering at 10 a.m. in-person
- September 28 at 6 a.m.: Individuals will be able to bet on approved online applications.
House Bill 551 established a new excise tax on sports wagering at 9.75 percent on the adjusted gross revenues on wagers made at a licensed facility and 14.25 percent on wagers placed online or on a smartphone. Under the plan, each racetrack is able to partner with up to three online operators.
The state anticipates $23 million a year in tax revenue at the outset, Beshear said. And sports betting money will stay in state instead of filling the coffers of neighboring states. The funds will go to Kentucky’s permanent pension fund, oversight by the KHRC and to support a problem gambling assistance account. Some 2.5 percent will support the assistance program operated by the Cabinet for Health and Family Services.
The temporary licenses offer the opportunity for operations within the state for a period of up to one year, subject to ongoing evaluation. This development now provides clarity to Kentucky bettors regarding the authorized retail establishments for placing sports bets, along with the list of approved mobile applications permitted within the state, according to the Yogonet Gaming News.
Several Kentucky racetracks, including their associated satellite facilities, have secured approval to establish sportsbooks, with scheduled retail openings commencing on September 7. These facilities include:
- 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
Additional approvals have been granted for the following forthcoming venues:
- 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 operators and service providers. Eight firms will operate mobile applications in Kentucky while Kambi was approved as a service provider for retail operations and will not have a mobile application.
- Bet365
- BetMGM
- Caesars
- Circa
- DraftKings
- Fanatics
- FanDuel
- Penn Sports Interactive
Bet365 and BetMGM will offer mobile betting in partnership with Sandy’s Racing and Gaming, while BetMGM will also run retail gaming. For its part, Caesars will offer retail and mobile betting with The Red Mile, while Betfair will run mobile betting with Turfway Park.
Penn Sports Interactive, to rebrand as ESPN Bet, partnered with Ellis Park to offer mobile, while Circa struck an online-only partnership with Cumberland Run. DraftKings partnered with Cumberland Run in Corbin for retail and both Cumberland Run and The Mint in Cumberland for mobile betting. Lastly, Kambi will provide retail betting services for Churchill Downs’ Ellis Park, Turfway Park and Oak Grove.
