Kentucky is T-minus two months away from the official launch of sports betting.
At a meeting on Monday, July 10, the Kentucky Horse Racing Commission (KHRC) set Sept. 7 as the launch date for retail sports betting and September 28 for online sports betting.
That means that Kentuckians can start placing their sports bets in less than 60 days.
The Sept. 7 launch date coincides with the NFL 2023-2024 season kickoff and comes several weeks — or even months — earlier than many thought possible.
“I am thrilled at the speed at which sports betting is moving to become operational here in Kentucky,” Gov. Andy Beshear said at a recent press conference before the Sept. 7 date was officially set. “We set a very aggressive goal to have it up and running before the first game of the NFL season, and I believe we’re on track to do that.”
Beshear has long targeted NFL Week 1 for the Kentucky sports betting launch. NFL betting is far and away the most popular sports betting market.
In a news release following Monday’s announcement, Beshear said:
“This is a historic day for our commonwealth. Sports wagering will open for the first time in Kentucky in less than 60 days. Bringing sports wagering to the state not only gives Kentuckians a much-anticipated new form of entertainment but also brings money to the state to support pensions, freeing up money that can be used to build a better Kentucky through the funding of education, economic development, disaster recovery and other necessary projects, like providing cleaner water, building roads and high-speed internet.”
Current offers: Check out these sportsbook bonuses for legal sportsbooks
Time for the Licensing Process
The timeline is ambitious. Beshear signed Kentucky’s sports betting bill into law on March 31, and since then, regulators have been setting the rules and regulations that will govern the market.
Now, they turn to licensing and applications and have less than a two-month turnaround to get the first retail sportsbooks ready to launch. KHRC Executive Director Jamie Eads said the timeline is doable.
“Our wagering compliance team is experienced and well-suited to lead this new area of wagering,” Eads said. “Our next step is to open licensing and start reviewing applications.”
Once sports betting is launched, lawmakers expect that the gaming industry could bring in roughly $23 million in tax revenue each year.
Which Apps Will Apply for Licenses?
Kentucky regulations allow each of the state’s nine racetracks to partner with up to three online operators and one retail sportsbook.
Red Mile, where Monday’s hearing took place, has already established a partnership with Caesars to build a retail Caesars Sportsbook at the track. Caesars is partnered with Red Mile and Keeneland for mobile sports betting.
Churchill Downs recently announced a sports betting partnership with FanDuel. They already have a racing partnership with both FanDuel and DraftKings.
With FanDuel Kentucky and Caesars Sportsbook Kentucky already in the mix, we also expect to see the usual suspects DraftKings Kentucky, BetMGM Kentucky, and Bet365 Kentucky.
