Kentucky sports betting saw an impressive surge in May 2026, with total wagers reaching $240,541,177 an increase of 14.78% compared to the previous year.

However, sportsbooks retained just $25,914,690, a figure that barely surpasses last May’s earnings of $25.7 million. This discrepancy is primarily due to a drop in hold, which decreased from 12.27% to 10.77%. The state benefited from this activity, collecting $3,668,245 in taxes.

Notably, online betting dominated the scene, accounting for $237,159,877 or 98.59% of all wagers, spread across nine operator skins linked to the state’s racetracks. These statistics are sourced from Kentucky’s official sports wagering reports. Overall, Kentucky is making headlines with its growth. The 14.78% increase in total handle is a significant achievement, reminiscent of figures older markets have long ceased to report, while online wagering itself saw a nearly 16% rise to $237.2 million.

However, the revenues for sportsbooks did not mirror this growth, as their earnings increased by less than 1% compared to last year due to a reduced hold of 1.5 cents for every dollar wagered. For bettors, it was a favorable month, while operators faced a more tempered outcome.

A lower hold resulted in more money circulating back to customers, attributed to favorable outcomes, increased competition, or aggressive promotional strategies in a market that is still vying for its share. From the state’s perspective, tax revenue increased by 4.1% to $3.67 million, aligning more closely with revenue than the significantly larger handle.

In terms of market share, Kentucky mirrors many states. DraftKings, operating through Cumberland Run, led the pack with $89.4 million in wagers, followed by FanDuel, associated with Turfway Park, at $75.9 million. Together, these two entities captured nearly 70% of the online handle, maintaining their well-established duopoly.

A noteworthy development comes from bet365, which occupies the third spot with $24.8 million, or 10.5% of the online handle. This places it comfortably ahead of competitors like BetMGM ($16.3 million), Fanatics ($14.6 million), and Caesars ($11.2 million).

In many other states, bet365 typically ranks in the middle tier, but in Kentucky, it has successfully established a strong third-place standing, surpassing several more prominent national brands. Meanwhile, the remaining operators, including theScore Bet, Circa, and Prime, collectively account for just over 2% of the market.