Kentucky is continuing to grow as an emerging legal sports betting market.
The Bluegrass State, which authorized online and retail sports betting in September, has found favor with bettors with more than $656 million wagered since launch. Kentucky is home to seven online sportsbooks, which have accepted over $629.5 million in bets, while the state’s nine brick-and-mortar wagering locations have reported a more than $26.8 million handle.
The results have generated nearly $8 million in tax revenue for Kentucky in only two months.
“This is an incredible start, and if this trend holds true, we will significantly exceed the $23 million in projected revenue from sports wagering,” said Gov. Andy Beshear in a statement.
Potential for more
Kentuckians are wagering an average of $65.2 million each week behind nearly 500,000 betting accounts that have been created across Kentucky’s sports betting operators. The state’s operators include DraftKings, BetMGM, and FanDuel — America’s largest sportsbook.
Circa Sports — a Las Vegas-based sports betting company — is also looking to take advantage of Kentucky’s growing sports betting market. Circa is planning to go live with online sports wagering operations in the Bluegrass State but has yet to announce a launch date. The company will also be taking advantage of the state’s support of retail wagering with a physical sportsbook set to open in H2 2024. Kentucky would mark Circa’s fifth online sports betting market in the U.S. Circa is already live with wagering in Colorado, Illinois, Iowa, and Nevada.
