Kentucky has officially opened its legal online sports betting market, marking a significant step in expanding its wagering options for residents. The online betting launch comes three weeks after the state introduced regulated retail wagering, demonstrating the growing momentum in Kentucky’s sports betting landscape. Over 60,000 mobile accounts had already pre-registered, indicating strong initial interest in the online platform.
A Progressive Move for Kentucky
In April, Governor Andy Beshear signed House Bill 551 into law, effectively legalizing both online and retail sports betting in Kentucky. The retail sports betting market was inaugurated on September 7, achieving a handle of $4.5 million in the first two weeks of operation. This successful retail launch paved the way for the introduction of online sports betting.
Partnerships and Licensing
Each of Kentucky’s racetracks has the opportunity to form partnerships with up to three online sports betting operators while also offering on-site retail betting services. In August, the Kentucky Horse Racing Commission (KHRC) granted sports betting licenses to several operators, including Caesars Sportsbook and BetMGM.
Excitement from Industry Leaders
Eric Hession, President of Caesars Digital, expressed his enthusiasm, saying, “Building on the momentum from our grand opening of Caesars Sportsbook at Red Mile in Lexington earlier this month, we’re thrilled to bring a full mobile sports wagering experience to Kentucky with the Caesars Sportsbook app.” This demonstrates the industry’s eagerness to offer a comprehensive online sports betting experience to Kentucky residents.
BetMGM CEO Adam Greenblatt also shared his optimism, stating, “Kentucky is home to some of the country’s most passionate fans. We’re confident that our sports betting platform will elevate their gameday experience.” The launch of online sports betting in Kentucky is expected to enhance the overall sports betting landscape in the state and provide a more engaging experience for sports enthusiasts.
The introduction of online sports betting in Kentucky represents a significant step forward in expanding the state’s betting options and revenue potential. With a successful retail launch and strong pre-registration numbers for mobile accounts, Kentucky is poised to become a prominent player in the growing US sports betting market.