Kentucky’s sports betting law took effect one week ago today. On Monday, state gaming officials will review regulations that will help launch the program within the next six months.
The Kentucky Horse Racing Commission (KHRC) announced today, Thursday, July 6, that it will meet on July 10 to review regulations that will set up retail and online sports betting tied to the state’s nine horse racing tracks.
Once adopted, those regulations will guide licensing and operations of up to 27 retail and mobile sportsbooks in Kentucky. Up to three sportsbook partnerships are allowed per track under the sports betting law (HB551) signed by Gov. Andy on March 31.
Beshear revved up Kentuckians in a Facebook post on Wednesday that said sports betting will happen “soon” in the Bluegrass State. The Governor said publicly last week that the hope is to launch sports betting in Kentucky in time for the 2023 NFL season. His staff has told Gaming Today that early fall is a realistic time frame.
Two Sportsbooks Have Announced Partnerships
Two sportsbooks have already announced partnerships with Kentucky tracks in preparation for launch.
FanDuel KY confirmed last week that it will partner with Churchill Downs Inc. (CDI) for retail and mobile sports betting operations. CDI owns four horse tracks in Kentucky, including Churchill Downs, home of the Kentucky Derby. It is also the owner of the TwinSpires Racing platform, United Tote pari-mutuel wagering system, and several gaming facilities in the US.
FanDuel is the second sportsbook to announce a Kentucky partnership pending launch later this year.
In May, Caesars Sportsbook announced that it has signed on as an official online sports betting partner with Keeneland Race Course and Red Mile Gaming & Racing, both in Lexington. A Caesars retail sportsbook is planned for the Red Mile.
Regulations To Be Posted Soon
At the commission’s June 20 meeting, KHRC Chair Jonathan Rabinowitz announced an early July review of the state’s sports betting regulation. The chairman said sports betting regulations will be posted on the KHRC’s website within the next few weeks, with more information made public as it becomes available.
“We will continue to provide updates on the progress as available,” said Rabinowitz. “But needless to say, this is an exciting time in the Commonwealth.”
Annual Kentucky state revenue from sports betting is expected to reach $23 million, most of which will fund Kentucky’s public pensions.
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