Sports betting in Kentucky: handle tops $2.39bn in first year
Sportsbooks took $283.6m in winnings.
US.- Players in Kentucky spent $2.39bn betting on sports in the state’s first year of regulation. Adjusted gross revenue reached $272m. That’s according to the information released by the Kentucky Horse Racing Commission (KHRC). The state’s regulated sports wagering market launched in September 2023.
Players bet $2.3bn online and $87.1m at retail sportsbooks. Online betting generated $264.3m in adjuster gross revenue and retail wagering $7.8m (after player winnings and federal excise tax). Kentucky collected $37.7m in tax from online sports wagering and $756,517 from retail betting.
Flutter Entertainment-owned FanDuel led the online market, followed by DraftKings. Other stand-out performers include BetMGM, Bet365 and ESPN Bet. Churchill Downs and partner Kambi led the retail market.
The Kentucky Horse Racing Commission (KHRC) has reported that the state’s online sportsbooks took $151.4m in bets in August, up 17.1 per cent from the previous month. Online wagers topped $147m and retail bets $4.4m. However, adjusted gross revenue in August hit $11.8m, down 21.9 per cent from $15.1m in July.
