The Bluegrass State is off to a promising start as a legal sports betting market.
Kentucky has reported a nearly $250 million sports betting handle following the recent authorization of online betting sites and retail sportsbooks. On September 7, the state went live with retail wagering while online betting launched three weeks later. Since then, nearly 500,000 betting accounts have been created across Kentucky’s eight licensed sports betting operators.
The state’s sportsbooks include BetMGM, DraftKings, Caesars, FanDuel, Fanatics, and others.
Kentucky sports betting sites since September 28 have taken in more than $232.3 million bets, while the state’s brick-and-mortar sportsbooks have reported a more than $15.7 million betting handle.
“It has taken many years to get here, but sports wagering is finally a reality,” said Gov. Andy Beshear. “This is a win-win for Kentuckians, who can enjoy a quality entertainment experience and benefit from funds staying right here in our state to help us build a better Kentucky.”
Circa Sports is also looking to take advantage of Kentucky’s new revenue stream. The Las Vegas-based sports betting company is planning to offer wagering in the state. Circa’s launch of betting operations in Kentucky would bring its total reach to five states across America.
Horse Capital of the World
Kentucky is reaping the benefits of sports betting with the help of the state’s racetracks.
The Bluegrass State currently has nine racetracks that offer sports betting. Last month, the Kentucky Horse Racing Commission received applications for wagering licenses from racetracks including, the Red Mile in Lexington and Churchill Downs in Louisville.
The two racetracks received approval along with Turfway Park in Florence. Kentucky will also be welcoming a new racetrack on October 26 with the opening of Sandy’s Gaming and Racing.
The facility — a $75 million investment — is projected to provide the state with 250 new jobs.
