In the latest industry news, we are taking a look at sports betting in Kentucky. They will finally join the list of states that offer sports betting. The Bluegrass state finally passed a law that legalizes both retail and online sports betting. House Bill 551 (HB551) passed the final vote in the legislature by 25-12. It was then signed into law by Governor Andy Bashear. The Governor has always been supportive of the efforts to legalize wagering in the state.
Kentucky is a state that is no stranger to gambling, so offering sports betting is not unfamiliar territory. Like what you can find in a per head sportsbook, many bookies can earn more from offering sports betting, horse racing, and casino gaming. Rather than limit themselves to just one. And the market is also ready, as Kentucky residents spend to bet and play in other neighboring states like Indiana, West Virginia. This way, Kentucky gets to collect tax revenue and use it in local programs.
Sports Betting in Kentucky: What You Need to Know
Much like with any sports betting software company, sports betting includes a wide range of wagering options and events that people can bet on. For Kentucky, residents can bet either through retail sportsbooks or online sportsbooks. Horse racing already exists in the state so the bill will not include this. There are no restrictions on wagering on particular events, even with college sports betting.
A bookie pay head sportsbook gives people access to affordable and easy to use betting software. This is especially important for a market that is open to bet through multiple platforms. This is something legislators acknowledge, as betting in the state can be done through multiple platforms from mobile to web, and more. The state’s licensed horse tracks can partner with up to 3 providers per license, so we can see as much as 27 online sportsbooks in the state. Currently, the state has six months to establish the regulatory framework to finalize licensing and operations.