Kentucky Governor Andy Beshear has been vocal in his support of sports betting in the Bluegrass State and his goal of opening the sportsbooks in time for the football season appears to be within reach as the Kentucky Horse Racing Commission (KHRC) will be voting on licenses next week.
Magnificent Seven
KHRC Chairman Jonathan Rabinowitz said in a press release last week, “The KHRC is excited to open sports wagering and is working efficiently to meet the necessary deadlines.”
Rabinowitz also added, “This is a careful process dedicated to wagering integrity and protecting bettors in the state of Kentucky.”
It appears as though everyone is on board with launching sports betting as soon as possible and Beshear even released the names of the seven online applicants and their corresponding partnerships with Kentucky racetracks.
- Caesars Entertainment + Keeneland-owned Red Mile
- FanDuel + Churchill Downs Inc.
- BetMGM + Sandy’s Racing & Gaming
- DraftKings + Cumberland Run
- Circa Online Sportsbook + Cumberland Run
- ESPN Bet/Penn + Ellis Park
The only applicant with an undisclosed partnership is British bookmaker bet365, while DraftKings was the most recent to announce its collaboration with Cumberland Run, a new harness racing facility located in Corbin, Kentucky. Cumberland Run also has a sports betting deal with Circa Online Sportsbook in place.
Earlier this month BetMGM announced their pact with Revolutionary Racing Kentucky and its horse racing facility called Sandy’s Racing & Gaming.
“Kentucky has a rich history in sports and a passionate fan base,” BetMGM CEO Adam Greenblatt said in a release. “Revolutionary Racing is an ideal partner, enabling us to deliver an entertaining and responsible gaming experience while investing in the state through job creation and tax revenue.”
All Systems Go
Governor Andy Beshear had an ambitious plan to get sports betting launched at the retail and online level in time for the NFL and college football seasons after signing House Bill 551 in March.
Beshear also has plenty of support in bringing sports gambling to Kentuckians, as the primary co-sponsor of the bill, Rep. Al Gentry of Louisville, said after the signing, “I have zero doubt that sports betting will be a natural fit for a state that has made betting on horses its calling card for nearly 150 years.
“I have been proud to collaborate with and advocate for this legislation with state Rep. Michael Meredith, the current bill’s sponsor, and former state Representative Adam Koenig, who sponsored previous versions. It took a lot of work to get to this point, but it was worth it.”
Oftentimes states take a year or more from the time a sports betting is signed to its online launch but Beshear understands that his state could use the projected $23 million in revenue it is expected to generate. Beshear has stated he wants retail betting to launch on September 7th while Kentucky mobile betting should commence on September 28th.
“Kentuckians can plan to place their first sports wagers, at a retail location, in just 28 days,” said Beshear last week in a press conference.
The governor also stated, “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.”
Calculators
