It appears that Kentucky sports betting launching in time for the 2023 NFL season could become a reality. The Kentucky Horse Racing Commission has already begun the regulatory process to launch sportsbooks. This process involves curating the final rules for the incoming market. This includes the confirmed tax rate, license requirements, and which sports will be allowed to be wagered on.
Kentucky Works Towards Sports Betting Launch
Lawmakers met Tuesday where it was confirmed that the commission has already begun working on regulations. Several key figures including Gov. Andy Beshear have been vocal about wanting sportsbooks live in time for NFL betting.
“The commission, along with members of the Public Protection Cabinet, have begun the process of drafting proposed regulations, meeting with officials in other states that recently have legalized sports wagering, and working with our licensed associations and potential vendors,” said Jonathan Rabinowitz Chairman in a prepared statement. “The commission is excited for the opportunity afforded to it and are and will work tirelessly to craft clear, responsible, and thorough regulations for sports wagering in this commonwealth.”
With the passing of HB 551, lawmakers will have six months of the law’s effective date to launch sports betting. The law goes into effect on June 28, which would allow betting to be live before the New Year.
Since the commission is already working on regulations ahead of the effective date, this could hasten the process. It is still a tight window to see sportsbooks live ahead of the NFL season in September. Even if they began the process in April, that would give them less than five months to launch.
Can Kentucky Meet The Target?
If we assume that it will take six months from the announcement that the regulations process has begun to when operators launch, then Kentucky sportsbooks could be live in October. This would only see bettors miss the first few weeks of the NFL season.
While this window won’t be the target, it would still see the majority of the season be wagerable in Kentucky. This is the most optimistic possibility for Kentucky sportsbooks launching this year. Kentucky sports betting fans should feel excited by the notion that lawmakers are already working towards the launch.
