Kentucky sets launch date for sports betting

Sports Betting

Sports betting in Kentucky will start just in time for football season. Gov. Andy Beshear approved regulations passed Monday by the Kentucky Horse Racing Commission that will guide officials as they roll out wagering around the state. The legislature passed a measure legalizing sports betting this year.

The regulations approved this week will allow retail betting operations — in-person wagering at licensed locations to begin Sept. 7. The rollout date for mobile operations, which allow betting from phones and other devices through apps such as FanDuel and DraftKings, is Sept. 28.

The deadlines are “ambitious” but reasonable, Beshear said at the signing Monday, estimating the state could land $23 million in additional revenue from betting in the first year alone. Retail sportsbooks will be taxed at 9.7% and online operations at 14.35%.

“The odds were against us, but we were determined to get sports betting passed in Kentucky, and we got it done,” Beshear said, touting bipartisan support that helped the measure pass. “… I want to see any freed-up dollars going to support public education, economic development, disaster recovery and other necessary projects.”