Gov. Beshear Places First Kentucky Sports Wager As Retail Betting Launches
Kentucky locals can now finally take part in sports betting as retail sportsbooks went live this morning. The first wager placed was a college football parlay by Gov. Andy Beshear. With the launch of retail operations, the Bluegrass State now enters into its sports betting era. How will the Kentucky sports betting market fare?
Kentucky Sportsbooks Now Live
Gov. Andy Beshear’s first wager was a $20 college football parlay on the University of Kentucky and University of Louisville hitting the over, as well as Duke University hitting the under. In Kentucky fashion, the Governor supported his home teams at the Churchill Downs.
“Today is a great day to celebrate and have a little bit of fun doing so,” Beshear said in a release. “It has taken many years to get here, but sports wagering is finally a reality in Kentucky. 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.”
Kentucky sports betting now becomes available at nine licensed locations across the state. Each operator hosts Las Vegas-style betting options for all locals. Find each Kentucky sportsbook and location listed below:
Kentucky Sportsbooks And Their Locations
|Churchill Downs Louisville||700 Central Ave, Louisville, KY 40208|
|Cumberland Run||6194 Cumberland Falls Hwy, Corbin, KY 40701|
|Derby City Gaming & Hotel in Louisville||4520 Poplar Level Rd, Louisville, KY 40213|
|Ellis Park Race Track||3300 US Hwy 41 N, Henderson, KY 42420|
|Newport Racing & Gaming in Newport||1723 Monmouth St, Newport, KY 41071|
|Oak Grove Racing||777 Winners Way, Oak Grove, KY 42262|
|Red Mile Gaming||1200 Red Mile Road, Lexington, KY 40504|
|Sandy’s Gaming & Racing||200 N Lake Dr, Prestonsburg, KY 41653|
|Turfway Park Racing & Gaming in Florence||7500 Turfway Rd, Florence, KY 41042|
Mobile betting will kick off on Sept. 28, but pre-registration has already gone live. Locals can join online sportsbooks and create their accounts for pre-live bonuses before the official launch date. Click SIGN UP now on the banner below to learn more and prepare for Kentucky online sports betting.
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Kentucky Market Projected To Be A Huge Success
According to Gov. Beshear, Kentucky could see $23 million annually in tax revenue from its local sports betting market. Beshear describes this as a “win-win” situation. The funds from sports betting will be allocated to problem gambling, local community efforts, and the public pension system. Kentucky will tax retail sportsbooks at 9.75% with wagers from mobile apps taxed at 14.25%.
Bill co-sponsor Rep. Michael Meredith says that this estimated revenue is not necessarily a lot for the state, but it keeps the funds in Kentucky.
“This is not a huge amount of money for the state. Let me be clear,” he said. “But that’s $23 million that’s either not being given to any government right now or being given to one of our border states.”
Kentucky becomes the 35th market to host a local betting industry. Time will tell if the Bluegrass State dominates in the ever-growing sports betting industry.