Kentucky announces $250m has been wagered since sports betting launch

Updated:2024-03-20 09:58    Views:180

Andy Beshear, Governor of Kentucky, has announced that almost $250m has been wagered in Kentucky since sports betting went live in the state last month.

Retail sports wagering went live with physical sportsbooks on 7 September, which brought in $15.7m of the total amount.

With a delayed launch, mobile and online sports betting went live on 28 September, with over $232.3m wagered through mobile devices since then and 500,000 accounts created.

Beshear said: “Kentucky is approaching $250 million wagered.

“That is a strong number that certainly reflects excitement for the opening of sports wagering.

“It has taken many years to get here, but sports wagering is finally a reality in Kentucky. This is a win-win for Kentuckians,Online Casino Games who can enjoy a quality entertainment experience and benefit from funds staying right here in our state to help us build a better Kentucky.”

It’s expected that sports wagering will increase revenue in Kentucky by $23m once it’s fully implemented, which will be used to support the Kentucky pension fund.

Out of this amount, 2.5% will be given to the Problem Gambling Assistance Fund, which focuses on the education and reduction of harmful gambling.

Jonathan Rabinowitz, the Kentucky Horse Racing Commission Chairman, said: “We are hearing very positive feedback from both our licensees and people wagering in Kentucky.

“Thanks to the dedication and hard work of the team, this launch has exceeded our expectations.

“Our work continues to protect the bettors in the state and support the best customer experience.”