Kentucky Launches Legal Online Sports Betting Market

by | Sep 30, 2023 | casino | 0 comments

Kentucky, the well-known American state, has finally announced the opening of its online sports betting market a few weeks after the state also launched its regulated retail wagering market.

Both online and retail betting were legalized through House Bill 551, which was signed into law by Andy Beshear, the Governor of Kentucky, in April 2023. The state authorities decided to open the retail market on 7 September, while the online betting market opened on 28 September.

The law stipulates that each of the racetracks located in Kentucky can form partnerships with up to three online sports betting operators and also offer retail betting. The Kentucky Horse Racing Commission has already prepared for this by issuing sports betting licenses for several operators in August.

For now there are eight different operators that have secured a service provider license for online betting in Kentucky: Bet365, BetMGM, Caesars, Circa, DraftKings, FanDuel, Penn Sports Interactive and Fanatics. Kambi also received a service provider license from the Kentucky Horse Racing Commission, but only for retail operations.

BetMGM will offer both retail and online wagering after having secured a partnership with Sandy’s Racing and Gaming. The same racetrack also signed a partnership with Bet365.

Caesars is also offering both retail and online betting in partnership with The Red Mile, while Penn Sports Interactive has teamed up with Ellis Park to offer mobile betting. Circa and DraftKings have signed partnerships with Cumberland Run, while Kambi is providing retail-only betting services for Churchill Downs’ Ellis Park, Turfway Park and Oak Grove.

An Exciting Time

Matt Kalish, President of DraftKings North America, declared himself “thrilled” to have launched his company’s services in Kentucky, the 24th jurisdiction where the well-known brand is now live. “It’s an exciting time of year with the NFL and college football seasons currently underway,” Matt Kalish added.

Scot McClintic, Chief Product Officer at Fanatics Betting and Gaming, announced that his brand will be launching in Kentucky with a jersey drop promotion, allowing each customer that signs up to receive a brand new jersey from any team in any sport.

In July 2023, when the state authorities first announced the launch dates for the Kentucky betting market, Governor Beshear described the moment as “a historic day for our commonwealth.” The Governor also added that along with the entertainment value that the betting market brings to people in Kentucky, the industry will also bring “money to the state to support pensions, freeing up money that can be used to build a better Kentucky.”

Source: “Kentucky opens legal online sports betting market“. iGaming Business. September 28, 2023.

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