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The Numbers are in for Kentucky's First Full Month-Plus of Legal Sports Betting

James Bisson

Last Updated: October 24, 2023 2:02 PM EDT • 2 min 3 sec read.

The much-anticipated legal sports betting figures for Kentucky are in. After launching retail-only sports betting ahead of the NFL season on Sept. 7 and following it up with a launch of many of our best sports betting apps on Sept. 28, it appears that the Bluegrass State scene has been a resounding success.

On Oct. 23, Gov. Andy Beshear announced a respectable sports betting handle and touted the nearly 500,000 sports betting accounts set up since wagering was legalized.

Beshear's press release read: “Kentucky is approaching $250 million wagered. That is a strong number that certainly reflects excitement for the opening of sports wagering. It has taken many years to get here, but sports wagering is finally a reality in Kentucky. This is a win-win for Kentuckians, who can enjoy a quality entertainment experience and benefit from funds staying right here in our state to help us build a better Kentucky.”

More on the handle

Nearly $250 million is a good number for sports betting regulators in Kentucky. So far, it has been Kentucky sportsbook apps that have dominated the conversation in the state. A little over $230 million, or almost 93%, of the nearly $250 million have come from Kentucky sports betting sites.

Retail has made up about $15.7 million of the total handle so far, despite being live for three more weeks than Kentucky online sports apps.

Revenues have yet to be released, but there have been widespread reports of sportsbooks nationally doing very well when Kentucky’s wagering scene has been active, thanks to the rash of upsets and in the NFL in particular. Kentucky mobile sports betting revenues will be taxed at a rate of 14.25% and flow into state and local coffers. Retail will be taxed at 9.75%. 

It is expected that Bluegrass State sports betting providers will contribute $23 million in taxes by the end of year 1.

More competition in the way?

Kentucky regulators paved the way for up to 27 mobile sports betting licenses. Only eight have been granted so far, and only seven are live. Right now, Kentucky bettors can download:

Circa Sportsbook is the only provider not to take advantage of their licensing opportunity and launch in the state. Circa is expected to be active by the end of the year, although there has been no firm timetable for its opening.

The impending arrival of ESPN BET on the national and Kentucky scene should also boost the legal sports betting industry.

Sandy’s Gaming and Racing in Ashland, KY, will launch a new retail facility on Oct. 26.

Overall...

The Kentucky Horse Racing Commission must be happy with the seemingly seamless launch of its legal sports betting industry. But there is no denying that the Commission still has some work to do. There are still 19 mobile licenses that need to be awarded.

“We are hearing very positive feedback from both our licensees and people wagering in Kentucky,” said Kentucky Horse Racing Commission Chairman Jonathan Rabinowitz in a press release. “Thanks to the dedication and hard work of the team, this launch has exceeded our expectations. Our work continues to protect the bettors in the state and support the best customer experience.”

Written By:
James Bisson
James Bisson is the Editor-in-Chief of Sportsbook Review. He has been a writer, reporter and editor for more than 20 years, and his work has appeared in more than 200 publications across North America. His first book, “100 Greatest Canadian Sports Moments”, was a hardcover best-seller in Canada in 2008. He has written more than 50 sportsbook reviews and dozens of other sportsbook-related content articles. James has also been quoted as a sports betting expert in USA Today and Sports Illustrated.