Kentucky approves 9 temporary sports wagering licences
The Kentucky Horse Racing Commission (KHRC) has approved operators to start taking bets on September 7.
US.- Governor Andy Beshear has announced that the Kentucky Horse Racing Commission (KHRC) has voted to approve temporary licences for sports wagering operators and service providers. Retail locations will start taking bets on September 7. The temporary licences will last up to one year while under continued review.
The company will operate race and sportsbook and historical racing machine (HRM) facilities at Churchill Downs Racetrack in Louisville, Derby City Gaming & Hotel in Louisville, Turfway Park Racing & Gaming in Florence, Newport Racing & Gaming in Newport, Oak Grove Racing, Gaming & Hotel in Oak Grove and Ellis Park Racing & Gaming in Henderson.
KHRC chairman Jonathan Rabinowitz said: “We are excited to open sports wagering on our target date as we continue working through this careful process dedicated to wagering integrity and protecting bettors in the state of Kentucky.”
The current venues licenced are as follows. The first six belong to Churchill Downs Incorporated (CDI):
- Churchill Downs, Louisville
- Derby City Gaming, Louisville
- Ellis Park, Henderson
- Newport Racing and Gaming, Newport
- Oak Grove Gaming and Racing, Oak Grove
- Turfway Park, Florence
- The Red Mile, Lexington
- The Mint Gaming Hall Cumberland Run, Corbin
- The Mint Gaming Hall Cumberland, Williamsburg
Upcoming venues licensed are:
- Derby City Gaming, coming to downtown Louisville
- Ellis Park, coming to Owensboro
- Sandy’s Gaming and Racing, coming to Ashland
The KHRC also voted to approve temporary licences for nine service providers. Eight will operate mobile applications in Kentucky, while Kambi will serve as a provider.
- bet365 Sportsbook & Racebook
- BetMGM
- Caesars Sportsbook
- Circa Sports
- DraftKings
- Fanatics
- FanDuel
- Penn Sports Interactive
- Kambi
Sports wagering is expected to increase the state’s revenue by an estimated $23m a year upon full implementation. The revenue will support the oversight of sports wagering and the Kentucky permanent pension fund while 2.5 per cent will support the problem gambling assistance account operated by the Cabinet for Health and Family Services.
House Bill 551 established an excise tax on sports wagering of 9.75 per cent on the adjusted gross revenues on wagers made at a licensed facility and 14.25 per cent on wagers placed online or on a smartphone.
The timeline for the launch of regulated sports betting in the state is as follows:
- August 28: Players can register with online accounts
- September 7: Wagerers can deposit money into their pre-registered mobile accounts only with approved mobile applications.
- September 7: Wagerers can place an in-person bet at licensed retail facilities.
- September 28: Approved mobile applications can start taking wagers.
