Seven mobile sports betting operators have applied for a license in Kentucky when the market opens in September, the regulator has announced.
In a press release issued on Thursday, Kentucky Horse Racing Commission (KHRC) revealed that seven racetracks had also applied for sports licenses. Both retail and online sports betting will launch in Kentucky next month in a staggered launch.
“The countdown is on. Kentuckians can plan to place their first sports wagers, at a retail location, in just 28 days,” said Kentucky Govenor Beshear, who welcomed not only a “much-anticipated new form of entertainment,” but also the additional tax revenue for state pensions, “freeing up money” for infrastructure investment.
There were no major surprises on the list: The major US stalwarts BetMGM, DraftKings, FanDuel, and Caesars have all applied for a Kentucky sports betting license, joined with European behemoth Bet365, US newcomer Circa Sports, and PENN Sports Interactive, fresh off its new ESPN deal.
Major Players Get Ready for Kentucky
The state’s seven racetracks are all welcome to apply for retail sports betting licenses; remote operators must partner with a racetrack to launch mobile sports betting. However, racetracks launch up to three “skins,” or individual brands, for mobile betting. Up to 27 sportsbooks could launch in Kentucky, PRO explains.
Two on the seven on this week’s list had already formerly announced their Kentucky intentions: BetMGM revealed a partnership earlier this month with the under-construction Sandy Ridge racetrack.
Caesars has partnered with both The Red Mile and Keeneland, though the latter has not applied for a sportsbook license.
“The agreements grant the operator market access to offer legalized mobile sports wagering in Kentucky and include plans to open Central Kentucky’s only brick-and-mortar retail sportsbook locations,” Caesars stated back in May, pending regulatory approval.
Kentucky Racetrack Applicants and Mobile Sportsbook Partnerships
| Racetrack | Location | Online Partner |
|---|---|---|
| Churchill Downs | Louisville | |
| Cumberland Run | Corbin (coming soon) | |
| Ellis Park | Henderson | |
| Oak Grove Racing and Gaming | Oak Grove | |
| The Red Mile | Lexington | Caesars |
| Sandy’s Racing and Gaming | Ashland (coming soon) | BetMGM |
| Turfway Park | Florence |
The other five operators are expected to announce similar partnerships with racetracks in the coming days. FanDuel and DraftKings are the dominant two sportsbooks in the US, and are also two of the most licensed, each operating in practically every state that permits regulated online sports betting. Their inclusion on the list was expected.
Bet365 is a giant in the UK and European sports betting markets, but its efforts in the US have been tentative. It operates in five US states to date — Colorado, Iowa, New Jersey, Virginia and its most recent launch, Ohio, where it has reported a substantial loss to date as it tries to compete against the bigger operators.
Circa Sports is a lesser known US sports book operator. It operates half a dozen retail books in Nevada and one in Illinois. For remote sports betting, it operates in Nevada, Colorado and Iowa, with an Illinois launch coming soon, according to their website. Kentucky will be its fifth launch.
Kentucky Remote Wagering Applicants: Full List as of August 10
- Bet365
- BetMGM
- Caesars
- Circa
- DraftKings
- FanDuel
- Penn Sports Interactive
The final entry on the list, Penn, is hardly a surprise — the operator is active in 16 states and has hopes of pushing into New York and Connecticut. However, currently its active sportsbook in these states is Barstool Sports, a brand that it plans to shut down and rebrand as ESPN Bets under its new blockbuster $1.5 billion deal with Disney’s massive sports media company.
It wants to make this transition as soon as possible, but says it will not be ready until “sometime in the fall.” How it will handle a new Kentucky market thus remains to be seen — launching under Barstool seems like a non-starter, so it may wait on the sidelines until it’s ready to rebrand.
A Rush to Launch
The regulator stressed in yesterday’s press release that applications are no guarantee of licensure. Staff will convene on August 22 to approve each application. Key employees are also being vetted.
“The KHRC is excited to open sports wagering and is working efficiently to meet the necessary deadlines,” said KHRC Chairman Jonathan Rabinowitz. “This is a careful process dedicated to wagering integrity and protecting bettors in the state of Kentucky.”
However, it is a tight timeline. The first retail sportsbooks are aiming to open on September 7, just in time for the first NFL weekend — less than 4 weeks away. Mobile sports betting in Kentucky will launch on September 28, just three weeks later.
Kentucky Sports Betting Launch: Timeline
| Date | Schedule |
|---|---|
| August 10 | Names of sports betting applicants — seven mobile operators and seven racetracks — released. |
| August 22 | Commission vote on applications. |
| September 7 | Retails sportsbooks open. NFL season begins. |
| September 28 | Mobile sportsbooks open. |
