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Kentucky took another step towards launching its sports betting market last week. On Friday, the Kentucky Horse Racing Commission (KHRC) approved the Sports Wagering Advisory Council’s (SWAC) bet catalog. The bet catalog establishes which sports and bet types will be allowed, setting the framework for the launch of the industry later this month.
While the KHRC is the top sports betting regulator in the Bluegrass State, they are working in conjunction with the recently formed SWAC. Kentucky decided to add the new council to support the KHRC, primarily due to concerns around their ability to manage the market efficiently. Friday was the council’s first meeting, making this their first official action as a regulator.
“Following a thorough evaluation, the Council made a unanimous decision to officially support the accompanying memorandum and the enclosed “Wagering Catalog” designed for sports wagering purposes, “SWAC William May shared upon the approval. “Due to the immediate nature of this topic, the Council recommends that the KHRC’s Executive Director approve the Wagering Catalog subject to ratification in the event that a quorum of KHRC’s membership is not able to meet prior to September 7, 2023.”
Retail sports betting will launch on September 7, and online sports betting will go live on September 28.
The finalized bet catalog surprised many by ranking among the country’s largest. Kentucky will allow things like betting on in-state NCAA teams, prop betting on college games, and live betting with very few restrictions. These are things that many of their neighboring states have prohibited, which could lead to bettors flocking over the border to enjoy Kentucky’s more extensive catalog.
Some notable bet types will remain illegal for sportsbooks to offer. Those include dog and horse racing, non-sports events like award shows, injuries or penalties, and disciplinary proceedings.
While horse betting was not in the catalog, it is already legal in Kentucky. The state considers horse betting and sports betting to be two separate industries. Therefore, there are two different licenses needed. Many sportsbooks will also offer horse betting, but it will be on a separate platform.
Michael is an avid sports fan and a veteran bettor from Milwaukee. He learned the trade from his grandfather in Las Vegas as a kid and has turned that into a successful career. He cheers for all Wisconsin pro teams along with his Alma Mater Arizona State. He specializes in baseball betting, but has experience in football, basketball, and hockey as well. When he isn’t pouring over stats, he’s spending time with his two young children.More info on Michael Savio
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