Gov. Andy Beshear (D) has an aggressive starting line in mind for Kentucky sports betting that could potentially see the first bet placed in the Bluegrass State by the fall.

According to the Madison Courier, Beshear is hoping to see Kentucky sports betting launch by September in time for the next NFL season. Beshear joins Sen. Majority Leader Damon Thayer (R-17) and Kentucky Horse Racing Commission Chairman Jonathan Rabinowitz as key state figures that believe sports betting could kick off by football season.

Following state road maps to sports betting

Beshear shared his hopes for a September launch date last week during his Friday press conference. The Kentucky governor said the state would utilize “best practices” from other states that have launched sports betting to ensure a smooth and quick start.

“The people are really excited about this, so we want to get it up and going as quickly as we can but also to do it right,” Beshear said at his weekly news conference, according to the Madison Courier.

He specifically stated wanting to have sports betting up and running “before the first NFL game.”

Beginning June 28, the Kentucky Horse Racing Commission has six months to determine regulations and licensing processes for the state.

NFL start date is aggressive

Earlier this month, Beshear signed Rep. Michael Meredith’s (R-19) sports betting bill, HB 551, into law, making Kentucky the 37th state to legalize sports betting.

The bill was approved by the Kentucky Senate by a vote of 25-12, eclipsing the necessary three-fifths majority to be approved.

Thayer told Saturday Down South that the commission can approve emergency rules and regulations to allow for retail sports betting to potentially launch by the start of the football season. It’s not an unprecedented launch timeline, as Kansas’ Gov. Laura Kelly (D) signed the state’s sports betting bill into law on May 12, 2022, and the state took its first bet just four months later on Sept. 1, 2022.

College football officially kicks off on Saturday, Aug. 26, 2023, and the NFL kicks off on Thursday, Sept. 7, 2023.

Thayer said he and Rabinowitz expect retail and online sports betting to both be live in 2023, but urged “patience” from Kentuckians. It’s uncharted waters for the Bluegrass State, but the ability to launch quickly is possible.

It is conceivable that retail sports betting could begin earlier in the state. Massachusetts most recently employed this strategy, launching retail sports betting at state casinos on Jan. 31, 2023, almost a month-and-a-half before launching online sports betting on March 10, 2023.

Kentucky is not starting from scratch, as its rich history of pari-mutuel betting and existing horse racing infrastructure can give it a leg up for a sports betting launch. Thayer said most tracks already have existing infrastructure for brick-and-mortar sportsbooks and the Kentucky Horse Racing Commission is eager to promulgate regulations to get the sports betting launch underway as quickly as possible.

Once the commission completes the regulations, the state’s nine racetracks can begin applying for sports betting licenses. The commission will have to review the license applications, award the applications, ensure that both retail and online sportsbooks reach regulatory compliance, and then give the green light to begin sports betting.

Sports betting bill details

Meredith’s bill legalizes retail sports betting at licensed Kentucky horse tracks, such as Churchill Downs, as well as online sports betting throughout the state. Each licensed horse track (of which there are nine in the state) will be eligible to partner with up to three online sports betting skins, allowing for a maximum of 27 operators in Kentucky.

The 27 maximum operators will allow for a mix of the more established online sports betting operators as well as smaller operators hoping to get into the market.

The bill sets the retail tax rate at 9.75% and the online sports betting tax rate at 14.25% on adjusted gross sports betting revenue.

Here are further details on the proposed bill:

  • Bets on professional sports, eSports, college events, Olympics, and amateur events will be allowed.
  • Residents age 18 and up will be able to participate.
  • 2.5% of sports betting revenue will be earmarked for a problem gaming fund.