Kentucky readies to launch sports betting on time for the NFL

Kentucky has finally settled on a date to launch its sports betting market officially. The Bluegrass State can now confirm that it will be just in time for the next National Football League’s season, meaning that the adult population of the 4.5m state will be able to place a wager on one of the biggest sports events in the United States, and more.

Now, the Kentucky Horse Racing Commission has said that pari-mutuel wagering can begin on September 7, and it will be conducted at both in-person and track locations. A mobile launch will take place several weeks after on September 28, allowing locals to fully benefit from the regulation of the sports betting industry which happened amid a strong push in legislation and with the final approval of Gov. Andy Beshear, a democrat with a strong track record of supporting gambling legalization in his state.

Kentucky is looking at a gaping deficit which the state has been looking to plug for quite some time now. One way to do this is through the legalization of gambling, which was long-opposed by lawmakers who fear that in looking for solutions for the public deficit, Kentucky would end up in more trouble than it’s worth.

At present projections, the state is expecting to raise $23m from annual tax payments to the budget from sports gambling. There are also a lot of reasons to want sports betting to be legalized and available in the state. For one, the state is already losing money as gamblers migrate to other states to place a wager.

Secondly, there is a very strong sports culture in Kentucky. The state is known to be rooting for the Kansas City Chiefs and there has been a strong influx of brands that are keen to bank on the newly-regulated market, among which are FanDuel, Caesars, and BetMGM. The Horse Racing Commission is going to award up to nine licenses to individual operator facilities, which will have three digital skins each.

The commission is now tasked with ensuring that all applicants are sorted and that everyone involved in the process has obtained the necessary licensure. Commenting on the upcoming launch, Public Protection Cabinet Secretary Ray Perry said that the people involved in the legalization and deployment of sports gambling in the state have worked long and hard to ensure that Kentuckians are protected and that their bets are safe.

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