- Gov. Andy Beshear (D) reported Kentucky took in nearly $8 million in sports betting tax revenue over first two months
- Beshear said $656 million has been bet in the commonwealth since September
- No official revenue reports have yet to be released
Kentucky sports betting has taken in nearly $8 million in tax revenue over its first two months, but the public is still waiting on an official revenue report from the state.
Gov. Andy Beshear (D) reported in his weekly press conference (and through an official press release) that over the first two months of sports betting the commonwealth has taken in more than $8 million in tax revenue and more than $656 million has been bet.
Beshear made the announcement but the state is still waiting on an official revenue report with full sports betting numbers.
Online Sports Betting Dominating Commonwealth
Of the $656 million bet since the launch of sports betting in September, only $26.8 million has been bet at retail sportsbooks throughout the state. More than $629.5 million has been bet through Kentucky’s seven online sportsbooks.
An average of $65.2 million is being bet in-person and online each week.
“Folks, this is an incredible start, and if this trend holds true, we will significantly exceed the $23 million in projected revenue from sports wagering,” Gov. Beshear said.
He also noted that official revenue reports from the Kentucky Horse Racing Commission (KHRC) will be released starting next week.
Sports Betting Expanding in Commonwealth
Kentucky Downs received unanimous approval from the KHRC in November for a retail sports betting license.
According to KHRC representatives, Kentucky Downs will launch its brick-and-mortar sportsbook sometime in 2024.
The follow locations are offering brick-and-mortar sports betting in the state:
- Churchill Downs
- Cumberland Run
- Derby City Gaming
- Ellis Park in Henderson
- Newport Racing and Gaming
- The Mint Gaming Hall at Cumberland Run in Corbin
- The Mint Gaming Hall at Cumberland Run in Williamsburg
- Oak Grove
- Turfway Park
The KHRC also issued temporary facility licenses to three locations that have yet to open. Derby City Gaming, Ellis Park in Owensboro, and Sandy’s Gaming and Racing will open at a future date.
The following online sports betting apps are currently live in Kentucky:
- Bet365 Kentucky
- DraftKings Kentucky
- FanDuel Kentucky
- BetMGM Kentucky
- Caesars Sportsbook Kentucky
- Fanatics Sportsbook
- ESPN BET
The post Gov. Beshear Reports $8 Million in Taxes Over Kentucky’s First Two Months of Sports Betting appeared first on Sports Betting Dime.
