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Kentuckys Sports Betting Bill Is In Effect: What Happens Now?

  • Kentucky’s sports betting bill has gone into effect.
  • Sports betting will likely launch sometime later this year in the Bluegrass State.
  • Kentucky online sports betting will allow for 27 operators.

Kentucky legislators and Gov. Andy Beshear (D) did their part for sports betting, but now the Kentucky Horse Racing Commission is on the clock as bill HB 551 has officially gone into effect in the Bluegrass State.

Bills signed into law during the General Assembly without an emergency clause go into effect 90 days after the session concludes. Kentucky sports betting is now officially in effect and the Kentucky Horse Racing Commission (KHRC) has six months to pass rules and regulations for Kentucky sports betting.

However, it’s the hope of the KHRC, Gov. Beshear, and other top state legislators that Kentucky sports betting will be ready to launch in brick-and-mortar sportsbooks by the start of the NFL season and online before the year is out.

Regulations by Early July

It seems as if all parties interested in Kentucky sports betting are on the same page, as KHRC Chairman Jonathan Rabinowitz reported at recently that the KHRC will call a special meeting in early July for the sole purpose of reviewing and approving the state’s sports betting rules and regulations.

“We will continue to provide updates on the progress as available, but needless to say this is an exciting time in the commonwealth,” Rabinowitz said.

Approving the Kentucky sports betting rules and regulations is a big step for state regulators and their goal of launching brick-and-mortar sports betting by the start of the NFL season. KHRC commission members and legal counsel have met with sports betting regulators from Colorado, Indiana, Ohio, New Jersey, and Massachusetts to ensure best practices are met.

“They have provided valuable insights,” Rabinowitz said of the state regulator interviews.

Once the commission completes the regulations, the state’s nine racetracks can begin applying for sports betting licenses. The commission will have to review the license applications, award the applications, ensure that both retail and online sportsbooks reach regulatory compliance, and then give the green light to begin sports betting.

The Kentucky sports betting bill legalizes retail sports betting at licensed state horse tracks, such as Churchill Downs, as well as online sports betting throughout the state. Each licensed horse track (of which there are nine in the state) will be eligible to partner with up to three online sports betting skins, allowing for a maximum of 27 operators in Kentucky.

The 27 maximum operators will allow for a mix of the more established online sports betting operators as well as smaller operators hoping to get into the market.

But what operators may we see in the Bluegrass State?

What Operators are Coming to Kentucky?

The only operator with an agree-upon sports betting partnership so far in the state is Caesars Sportsbook, as the operator announced agreements with Keeneland and Red Mile Gaming and Racing in Lexington to grant Caesars Sportsbook market access for online sports betting. The agreement also includes plans to open the first brick-and-mortar retail sportsbook location in central Kentucky.

As part of the deal, Caesars Sportsbook will be an official sports betting partner of Keeneland and Red Mile. Caesars will also operate as an on-premise brick-and-mortar sportsbook at Red Mile.

“Keeneland and Red Mile are iconic horse racing venues with an important legacy in the state of Kentucky,” said Eric Hession, President of Caesars Digital, in a press release.

While no other official partnerships have been announced, Churchill Downs CEO Bill Carstanjen spoke with WDRB.com in April and said the famous track would be partnering with FanDuel Kentucky for its sports betting product.

“We have entered into contracts to provide certain online wagering platforms including FanDuel access to the Kentucky market in connection with which we receive a revenue stream,” Carstanjen said.

Alexander Pitocchelli, director of communications for FanDuel, confirmed the sports betting operator will partner with Churchill Downs for Kentucky market access.

It is almost certain that Kentucky sports bettors will also see DraftKings Kentucky in the Bluegrass state when sports betting is launched.

Betr CEO Joey Levy recently told Sports Betting Dime that the micro-betting specialist will be exploring opportunities to enter Kentucky (and newly legalized North Carolina) as well.

“We plan on exploring opportunities in both markets,” he said.

BetMGM Kentucky, Barstool Sportsbook, WynnBET, bet365, Tipico, and Superbook are also good bets to make their way into the state.

The post Kentucky’s Sports Betting Bill Is In Effect: What Happens Now? appeared first on Sports Betting Dime.



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