2023-07-20
Kentucky Sports Betting Five Operators Apply
According to the Kentucky Horse Racing Commission (KHRC) five sports betting operators are in discussions with the state over applying for a license following legislation allowing for the activity which will launch in September.
Executive Director Jamie Eads from the KHRC said that DraftKings, FanDuel, WynnBet, Circa and Bet MGM have all been in touch to enquire about licensing although more may have come forward but not named.
Indeed, one of those not named Caesars is understood to already have an agreement with one of the Kentucky racetracks that is allowed to operate sports betting and FanDuel is another that reportedly has a deal in place with another racetrack.
State lawmakers passed legislation on 29th June allowing for sports betting and although not mentioned it is understood that several suppliers and service providers have also applied for licensing.
It is estimated that as much as 95% of all sports betting revenues will derive from mobile sports betting apps and generate an estimated $23 million annually for state taxes, with 9.75% tax revenues from in person gambling and 14.25% in mobile tax revenues.
