All About Kentucky Sports Betting Handle And Revenue

BetKentucky.com is your go-to destination for all things related to Kentucky sports betting, and as such, we’ve developed this guide to explain terms such as handle, revenue and tax collections.

Sports betting began in the Bluegrass State in September 2023. State officials chose a gradual launch, allowing brick-and-mortar sportsbooks to start first on Sept. 7, 2023. Online operators received the green light three weeks later.

As of November 2023, seven of Kentucky’s nine licensed racetracks have licenses to serve as sports wagering operators. That allows them to host sportsbooks at their racing venues and their historical horse racing satellite facilities. Those tracks may also partner with up to three online sports betting operators.

Currently, there are eight licensed online sports betting operators in the state; they often offer Kentucky betting promos. Bet365 and BetMGM have partnered with Sandy’s Racing and Gaming. Caesars Sportsbook is connected to The Red Mile. Circa Sports and DraftKings have partnerships with Cumberland Run. Fanatics is partnered with Oak Grove Racing and Gaming. FanDuel is licensed through Turfway Park, and ESPN BET (Penn Interactive) is connected with Ellis Park.

Brick-and-mortar sportsbooks have opened at Churchill Downs in Louisville, Ellis Park in Henderson, Oak Grove and Turfway Park in Florence – all of which operate on the Kambi platform. Caesars has a retail book at The Red Mile in Lexington. DraftKings has sportsbooks at Cumberland Run in Corbin and The Mint Williamsburg, while BetMGM opened one at Sandy’s Racing and Gaming in Ashland.

Through the handle figures released by the administration of Gov. Andy Beshear, the state is following in the path of most other markets that have both online and retail options – that is, the licensed online Kentucky sports betting apps are the preferred choice by most sports bettors in the state.

Kentucky Sports Betting, October vs. September

Kentucky Sports Betting Handle and Revenue: October 2024

Sports bettors had a lot to celebrate in Kentucky during October as the Bluegrass State’s licensed operators reported a combined handle of $274,928,953, according to data released by the Kentucky Horse Racing and Gaming Commission.

While the handle rose 7.45% from September 2024’s $255,863,415, it was down 6.83% from the $295,088,669 that bettors gambled during October 2023, the first full month for online sports wagering in Kentucky. 

Sports betting operators reported offering credits of $99.8 million during October 2023 and the last weekend of September. Online wagering debuted on Sept. 28, 2023. The KHRGC no longer releases promotional data. In addition, October 2024 had just four weekends of NFL games, compared to the five from last year.

Online, the $265,130,558 wagered in October 2024 represented an increase of 7.48% compared to the $246,571,111 from the previous month. However, it fell 6.83% from the $286,939,580 bet the year prior. Brick-and-mortar sportsbooks reported heavier traffic, as the $9,798,395 taken in October was a 5.45% improvement from the $9,232,304 from the previous month. In addition, it was 20.24% better than the $8,149,089 accepted during the same month last year.

Kentucky bettors did very well for themselves. Sportsbooks reported combined adjusted gross revenues of $18,798,608 for October 2024. That was down 44.12% from the $33,640,907 operators reported in September and 65.05% from the $53,786,949 they generated during October 2023. While retail operators saw greater handles, the same could not be said for revenues. The brick-and-mortars earned just $125,770 in October. That was down 88.55% from the $1,098,299 they won in September and 88.09% from the $1,055,643 they collected in October 2023.

Similarly, tax revenues fell precipitously for the state. Kentucky received just $2,988,346 from operators in October. That fell 37.05% from the $4,747,316 collected in September and 60.77% from the $7,616,623 from the year prior.

From an operator standpoint, DraftKings reported an online handle of $102,713,776 and an AGR of $7,988,235. FanDuel’s handle was $92,282,050, with revenues of $9,597,234. Coming in third was bet365 Kentucky Sportsbook, taking $24,485,005 and winning $1,270,335.

BetMGM accepted $13,057,278 in Kentucky online sports betting wagers during the month and reported $682,863 in AGR. Caesars’ handle of $11,519,213 led to receipts of $361,155. Fanatics online traffic amounted to $9,609,212, with revenues of $533,570.

ESPN BET Kentucky generated $6,513,082 in online wagers, which led to revenues of $393,130, and Circa Sports’ took $4,950,942 during October and reported a loss of $2,123,684.

Kentucky Mobile Sports Betting History