Gov. Andy Beshear on Thursday announced the release of Kentucky’s Wagering Catalog, which includes a list of sports available for betting in Kentucky. Retail sports wagering opens September 7, while approved mobile applications can start taking wagers September 28.
“Excitement for sports wagering is building as we are just one week away from opening retail locations and one month from opening mobile applications for sports wagering,” Beshear said. “Kentuckians now know where they can place a bet and the type of sporting events and wagers that licensees can offer.”
The Sports Wagering Advisory Council recommended an initial catalog of sporting events for wagering in Kentucky. The recommended catalog was approved by Kentucky Horse Racing Commission Executive Director Jamie Eads, subject to ratification by the full commission at their next scheduled meeting.
To be considered for the catalog, an event must be sanctioned by a governing body. Additional sporting events can be requested by a licensee for future approval. A sport’s governing body can request that specific events be limited or excluded from wagering.
Highlights from the approved catalog include the NFL, MLB, NBA, WNBA, and several NCAA sports. See the Wagering Catalog for the complete list.
The types of wagers offered by a licensee are defined in the sports wagering administrative regulations. They include:
- Single game bets;
- Teaser bets;
- Parlays;
- Over-under bets;
- Money line bets;
- Pools;
- In-game wagering;
- In-play bets;
- Proposition bets; and
- Straight bets.
Additional wagering types can be considered for approval by the KHRC if requested by a licensee. A sport’s governing body can request that wager types be limited or excluded for specific events.
On August 22, The KHRC voted to approve temporary licenses for seven operators and nine service providers. The details of those approved for licensure and their business relationships are available here. A list of retail sportsbooks approved for licensure is available here.
Key dates for Kentuckians to remember include:
- August 28: Kentuckians began pre-registering accounts with approved mobile applications.
- September 7, at 6 a.m. EDT: Wagerers can deposit money into their pre-registered mobile accounts only with approved mobile applications.
- September 7, at 10 a.m. EDT: Wagerers can place an in-person bet at licensed retail facilities.
- September 28, at 6 a.m. EDT: Approved mobile applications can start taking wagers.
Kentucky chose a tiered implementation, which has been used in multiple states and which allows for the testing of policies and procedures before the full rollout that includes mobile applications.
Sports wagering is expected to increase the state’s revenue by an estimated $23 million a year upon full implementation, according to Beshear. The increase in revenue will support the oversight of sports wagering and then be dedicated to the Kentucky permanent pension fund. Additionally, 2.5% will support the problem gambling assistance account operated by the Cabinet for Health and Family Services.
House Bill 551 established a new excise tax on sports wagering: 9.75% on the adjusted gross revenues on wagers made at a licensed facility and 14.25% on wagers placed online or on a smartphone.
For more information about sports wagering in Kentucky, visit KHRC.ky.gov.
