When you sign-up through links on our site, we may earn an affiliate commission. Learn more >
The Bluegrass State kicked off online sports betting with a ban to close September. Governor Andy Beshear announced the state had seen over $68 million in wagers in the first four days since mobile sports betting went live on Thursday, September 28. While he did not share the breakdown between retail and online wagers, the Governor did hail the impressive number as a win for Kentucky.
"Kentuckians are taking advantage of legal wagering both in-person and through mobile applications to bet on a growing number of sports, including NFL, college sports, Formula 1 racing, and more," Beshear said of the industry’s early success. "Now we can look forward to watching these numbers grow and seeing the revenue it generates help build a better Kentucky.”
While the amount wagered, also known as the “handle,” is impressive, the amount the state will see is still unknown. Kentucky taxes retail sportsbooks at 9.25% and online ones at $14.25%. The state uses 2% of the sports betting tax revenue to support problem gambling resources, while the rest will head to the state’s pension fund.
Kentucky is projecting to see around $22 million in tax revenue annually.
Kentucky’s online sports betting market will expand soon as the state awaits two more license operators to launch. ESPN Bet and Circa Sports were awarded licenses to operate in Kentucky, but they could not launch by September 28.
Circa Sports is expected to launch first, but the hope is the ESPN Bet will also go live before the end of the year. Circa has an existing platform in other states, but ESPN Bet has yet to launch anywhere. The ESPN brand will take over for Barstool Sportsbook, which had its partnership with Penn Entertainment dissolved over the summer.
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
© Rebel Penguin ApS 2023 (a subsidiary of Gaming Innovation Group Inc.)
We support responsible gambling. 21+ Only. Gambling problem? Call 1-800-Gambler.
WSN.com is run by iGaming Cloud Inc (a Gaming Innovation Group Subsidiary) and is registered with the New Jersey Division of Gaming Enforcement (DGE) under affiliate vendor ID 89744, with the Indiana Gaming Commission (IGC) under certificate of registration number SWR-000148, approved by the Pennsylvania Gaming Control Board as a gaming service provider, under certificate registration number 117656-1, possesses a Vendor Minor sports betting license from the Colorado Limited Gaming Control Commission (account number 94414163), granted a vendor registration number VR007603-20-001 by the Michigan Gaming Control Board, an interim Sports Wagering Supplier license, under license number SWS 066, issued by the West Virginia Lottery Commission, a sports betting vendor registration, under registration number #100400, issued by the Director of Gaming Licensing and Investigations of the Virginia Lottery to operate in the State of Virginia, and a Vendor Registration issued by the Sports Wagering Committee of the Tennessee Education Lottery Corporation.
Advertising disclosure: WSN contains links to online retailers on its website. When people click on our affiliate links and make purchases, WSN earns a commission from our partners, including ESPN and various sportsbooks.