Operators of sports betting sites are starting to line up market-access agreements for the Bluegrass State.
By law, Kentucky sports betting will flow through the state’s racetracks, which can partner with up to three mobile operators.
First to announce such a partnership is Caesars Entertainment Inc., owner of Caesars Sportsbook. The Nevada-based company said this week that it has agreements with Keeneland racetrack and Red Mile Gaming and Racing in Lexington.
“The agreements grant the operator market access to offer legalized mobile sports wagering in Kentucky and include plans to open Central Kentucky’s only brick-and-mortar retail sportsbook locations, subject to regulatory approvals from the Kentucky Horse Racing Commission,” a press release noted.
A friend to the horsepeople
Legal sports betting in Kentucky is set to start by the end of 2023, although regulators are still hammering out the various rules needed to let the wagering begin. Operators, however, are getting their ducks in a row and finding track partners that will provide them access to the horse-racing-heavy market.
Several sportsbook operators have horse-racing apps that bear similar branding, including Caesars, which says its new partnerships “further reinforce” its commitment to horse racing and the expansion of the Caesars Racebook app.
“Keeneland and Red Mile are iconic horse racing venues with an important legacy in the state of Kentucky,” said Eric Hession, president of Caesars Digital, in a press release. “Customers in the region have long enjoyed our world-class Caesars destinations and, most recently, our horse racing wagering app, Caesars Racebook. Working with these historic institutions provides an unmatched opportunity to reach sports and racing fans in the state, and we look forward to working with the Kentucky Horse Racing Commission as we prepare to launch later this year.”
A quirky relationship
Caesars says its new relationships will make it an official sports betting partner of Keeneland and Red Mile. The company plans to open a brick-and-mortar sportsbook at Red Mile, subject to regulatory approvals.
One interesting quirk is that Caesars recently decided to only take bets from those 21 and older. In Kentucky, the legal age for wagering is 18, the same as for wagering on horse racing. Caesars, however, will stick to its 21 and over policy in the state.
Meanwhile, tracks and the horse-racing industry in general are hoping that sports betting will give their businesses a boost.
“Keeneland’s venture with Caesars Sportsbook holds exciting potential and furthers our mission to introduce new audiences to horse racing,” Keeneland President and CEO Shannon Arvin said in the release. “Caesars is a globally respected brand, and we value their commitment to racing and their expertise in sports wagering.”
