Since 28 June, when the new sports betting law that Governor Andy Beshear signed on 31 March officially went into force, the operators have been applying for online betting licences. The governing body, The Kentucky Horse Racing Commission (KHRC), has received seven applications, and the vote will take place on 22 August for both retail and online licences.
Seven Applicants for Mobile Betting Licences
The Commission has received seven applications for both on-site retail betting and online betting licences, and the House Bill 551 that Beshear signed guarantees nine retail betting licences for Kentucky racetracks. Each of them can partner with up to three online betting operators that get licenced in Kentucky.
The math says there will be 27 licences available for mobile betting operators, and so far, there have been seven applicants. Apart from the industry giants bet365 and FanDuel, BetMGM, Caesars, Circa, DraftKings, and Penn Sports Interactive (ESPN BET) also applied for the licence to grant them access to the KY online betting market from 28 September.
A Beneficial Development for Kentuckians
KHRC chairman Jonathan Rabinowitz talked about the whole process from the Kentucky Horse Racing Commission’s side:
The KHRC is excited to open sports wagering and is working efficiently to meet the necessary deadlines. This is a careful process dedicated to wagering integrity and protecting bettors in the state of Kentucky.
Governor Beshear again spoke about the state's benefits of legal sports betting. Apart from being a form of entertainment, sports betting will also boost Kentucky’s tax income to support pensions.
“This frees up money that can be used to build a better Kentucky through the funding of education, economic development, disaster recovery and other necessary projects, like providing cleaner water, building roads and high-speed internet,” Beshear pointed out.
