{"id":182,"date":"2020-12-30T21:34:57","date_gmt":"2020-12-30T21:34:57","guid":{"rendered":"https:\/\/betbystate.com\/?page_id=182"},"modified":"2024-02-03T01:16:00","modified_gmt":"2024-02-03T01:16:00","slug":"kentucky","status":"publish","type":"page","link":"https:\/\/betbystate.com\/kentucky","title":{"rendered":"Legal Sportsbooks in Kentucky – Sports Betting in KY"},"content":{"rendered":"\n
\"Kentucky<\/figure>\n\n\n\n

2023 was a big year for <\/strong>Kentucky sports betting, as legal options are now LIVE in the state<\/a>. Retail sports betting launched on September 7, while online sportsbooks<\/a> launched on September 28. <\/p>\n\n\n\n

It was a long and difficult road to get sports betting legalized in the state as it looked as if this would happen much earlier. Some key points kept lawmakers from passing a bill, but eventually, a deal was reached. <\/p>\n\n\n\n

Kentucky joined the Midwest portion of the United States<\/a> which is loaded with sports betting markets. There are also some huge markets in this part of the country. However, Kentucky is not expected to become one of the leaders. <\/p>\n\n\n\n

Kentucky should have plenty of success right away with sports betting, as the launch will coincide with the start of the 2023 NFL season. The Kentucky Horse Racing Commission<\/a><\/strong> regulates this new industry, including online and retail sports betting options.<\/p>\n\n\n\n

If you register for an account through a link on BetbyState, we may receive compensation. If you or someone you know has a gambling problem, call 1-800-GAMBLER.<\/em><\/p>\n\n\n\n

History Behind Sports Betting Legalization<\/h2>\n\n\n\n

Kentucky discussed legalizing sports betting in 2017 before the federal ban on sports betting was lifted. That bill was similar to the final bill that was passed, but it wasn\u2019t seriously considered.<\/p>\n\n\n\n

After the United States Supreme Court <\/strong>overturned the Professional and Amateur Sports Protection Act in 2018<\/strong>, Kentucky lawmakers created a group to study sports betting. That group argued that this should be done in the state. However, Governor Matt Blevin was not in favor of legalization. <\/p>\n\n\n\n

Four sports betting bills were introduced in 2019, but most were shot down quickly. 2020 looked like the year that Kentucky would ultimately get a law in place as new Governor Andy Beshear was in full support of this industry. <\/p>\n\n\n\n

Lawmakers worked up to April 15 to pass a sports betting law, but they just ran out of time. A similar fate met sports betting bills in 2021, despite Governor Beshear urging lawmakers to do something. <\/p>\n\n\n\n

Sports betting gained some traction in 2022. While the House of Representatives was ready to move forward, this wasn\u2019t the case in the Senate. It started to look as if sports betting would never get legalized in the state. <\/p>\n\n\n\n

Things moved quickly in early 2023 and both chambers of the state legislature finally were on the same page. In March, the Senate announced an approved sports betting bill. It went into effect on June 28, 2023.  <\/p>\n\n\n\n

Financial Projections for Kentucky Sports Betting<\/h2>\n\n\n\n

By launching during the 2023 NFL<\/a> season, Kentucky is expected to put up some solid sports betting numbers right away. Other states that have done a similar thing with their launch have all gotten off to record-setting starts in this industry. <\/p>\n\n\n\n

The state of Kentucky has placed a 14.25% tax on online sports betting revenue, and a 9.75% tax on all in-person revenue. Those tax rates are right around the national average and should allow the state to bring in a significant amount of revenue. <\/p>\n\n\n\n

It\u2019s hard to predict just how successful the sports betting market in the state of Kentucky will be, but there have been some projections made. The Midwest part of the country has put up some solid sports betting numbers. However, Kentucky is also going to face some stiff competition. <\/p>\n\n\n\n

The initial projections have the state of Kentucky bringing in close to $25 million in annual tax revenue, but that won\u2019t be seen until a few years down the road. If projections hold, sportsbooks in the state could combine to post close to $300 million in gross revenue each year. <\/p>\n\n\n\n

Kentucky should post some solid numbers right away. The first real test will come after the October numbers are announced. <\/p>\n\n\n\n

Sportsbook Apps in KY<\/h2>\n\n\n\n

While retail sports betting<\/strong> launched ahead of the online sports betting apps, there is the potential to be up to 27 online sportsbooks coming to the state. However, it\u2019s going to take a while to approach that number.<\/p>\n\n\n\n

As soon as Kentucky announced that sports betting was legal, most of the top operators in this industry tried to secure a partnership in order to apply for a license. The Kentucky Lottery Commission didn\u2019t waste much time in handing out online sports betting licenses as it wanted to create some competition right away. <\/p>\n\n\n\n

Here is a complete list of mobile sportsbook apps available in Kentucky as of the September 28 launch:<\/p>\n\n\n\n