Kentucky Authorizes Sportsbook Vendors as Betting Starts Loom
On Tuesday, Kentucky officials issued temporary licenses to racetracks and mobile sportsbooks, allowing them to accept wagers starting next month.
The Kentucky Horse Racing Commission awarded a total of 12 licenses for in-person sportsbooks at racing venues and satellite facilities across the state, as well as eight mobile sportsbook permits.
In a press release, Governor Andy Beshear remarked, "The countdown continues as we draw nearer to the start of sports betting with brick-and-mortar locations opening in just 16 days." He thanked the commissioners for their efforts in ensuring a smooth launch of the sports betting program.
Out of the 12 in-person sportsbooks, nine are slated to be operational by September 7, which is the first day of in-person betting, while three more are planning to open soon. The following locations will have retail sportsbooks open on September 7: Churchill Downs and Derby City Gaming in Louisville, Ellis Park in Henderson, The Mint Gaming Hall Cumberland Run in Corbin, The Mint Gaming Hall Cumberland in Williamsburg, Newport Racing and Gaming in Newport, Oak Grove Gaming and Racing in Oak Grove, The Red Mile in Lexington, and Turfway Park in Florence.
The remaining three sportsbooks will soon open at Derby City Gaming in downtown Louisville, Ellis Park in Owensboro, and Sandy's Gaming and Racing in Ashland.
Mobile Betting Launches September 28
Fourteen temporary service provider licenses were issued to companies that will power the mobile sports betting experience in Kentucky. These licenses were awarded to Bet365, BetMGM, Caesars, Circa, DraftKings, Fanatics, FanDuel, and Penn Sports Interactive. Kambi, a partner of Churchill Downs, also received a service provider license but won't run a mobile sportsbook.
Starting August 28, Kentuckians can preregister for mobile sportsbook accounts and deposit funds beginning September 7.
Each sportsbook operator must partner with a racetrack within the state, as required by Kentucky's sports betting law. Bet365 and BetMGM are partnered with Sandy's Gaming and Racing, Caesars is aligned with The Red Mile, Circa and DraftKings are linked to Cumberland Run and its satellite locations, Fanatics is associated with Oak Grove, Fanduel is tied to Turway Park and its satellite, and Penn Sports is affiliated with Ellis Park Henderson and Owensboro locations.
Catalog to Be Released
In the upcoming weeks, the Horse Racing Commission will release a catalog detailing eligible events and the wagers that can be placed prior to the kick-off of betting on September 7.
Sports betting is expected to yield approximately $23 million annually once the initiative is operating at full capacity. The generated funds will be used to manage the sports betting program and contribute to a state pension fund. Additionally, 2.5% of the collected money will be utilized to address the issues related to problem gambling.
Overall, Kentucky residents aged 18 and above will have access to betting on professional and collegiate sports. This is notable since Kentucky is one of the few states that doesn't impose a 21-year-old age limit for sports betting.
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