The Kentucky Horse Racing Commission has put out the help wanted sign as it prepares to roll out Kentucky sports betting across the state.
During his weekly press briefing Wednesday, Gov. Andy Beshear shared that with reporters, saying it’s the “first good announcement” with more to come.
House Bill 551 passed the Kentucky General Assembly on March 30, the final day of its 2023 session. The bill, which Beshear signed into law the same day, calls for the KHRC to serve as the state’s regulatory agency for sports betting.
The commission seeks auditors, analysts, and advisors who will serve in compliance roles.
“This is an exciting milestone,” he said. “With the additional licensing and enforcement responsibilities, we have to add these jobs. That’s the first step towards the implementation of this program, and folks, we are making sure it is done right.”
Additional information on the positions is available on the Kentucky commission’s website.
NFL Regular Season Remains the Target in Kentucky
While Beshear signed the bill more than two months ago, the sports betting law – like all other non-emergency laws the legislature passed this year – won’t officially be enacted until June 28.
At that time, the KHRC will have six months to establish the rules and regulations it will use to oversee sports betting. However, the commission has started some behind-the-scenes work already in hopes of identifying industry best practices that will allow state officials to expedite the process as much as possible.
“The Kentucky Horse Racing Commission, working with my office and others, is actively engaged with officials from other states, with likely participants inside the states on developing what will be the initial emergency regulations to get the program up and going,” Beshear said.
On Wednesday, the governor reiterated his “ambitious” hope that sports betting would start in the Bluegrass State by the upcoming NFL season. Be prepared for sports betting and learn about the Kentucky betting apps ahead of the launch.
The first regular season NFL game takes place 71 days after Kentucky’s sports betting law becomes enacted. NFL Season will be here before you know it and we're already tracking 2024 Super Bowl Odds for you to get in early on your pick to win.
About Kentucky’s Sports Betting Law
Under HB 551, Kentucky’s nine horse racing tracks will have the opportunity to offer sports betting across the commonwealth. The tracks can set up brick-and-mortar sportsbooks at their locations and their satellite historical horse racing facilities.
Tracks will also be able to partner with up to three online operators each, meaning there could be as many as 27 licensed apps or sites available to Kentucky bettors.
Only one partnership has been officially announced so far. Caesars Kentucky Sportsbook is partnering with Keeneland and Red Mile, two tracks based in Lexington, for online and physical sportsbooks.
In addition, Churchill Downs CEO Bill Carstanjen referenced an agreement the Louisville-based track operator has in place with FanDuel in Kentucky during an April quarterly earnings call with investment analysts. However, official details of the partnership have yet to be made public.
We're still waiting to find out if BetMGM Sportsbook is coming to Kentucky. DraftKings Kentucky plans have yet to be announced either.
Unlike most other states where sports betting has been legalized, Kentucky is allowing 18-year-olds to register for accounts, the age that aligns with rules for betting on horse races or buying lottery tickets in the state.
Caesars, though, noted in its announcement that it will only offer sports betting to individuals 21 and older.
The state will tax brick-and-mortar sportsbooks at 9.75% of their adjusted gross revenues, and online operators will be taxed at 14.25%. Funding from sports betting taxes will cover the KHRC’s administrative costs to regulate the industry, fund problem gambling initiatives and pay down the state’s public pension shortfalls.
We are getting very close to the sports betting launch in the Bluegrass State. The minute it goes live, we will have the latest and greatest Kentucky sportsbook promos for you, right here on BetKentucky.com.
