Seven Mobile Sportsbooks Apply for Kentucky Licenses
Kentucky regulators are considering applications from 7 online sportsbook operators, as easily as applications for in the flesh(p) wagering from the state’s VII gymnastic horse racetracks.
The KY Horse Racing Commission testament determine on the permission applications later this month, and residents should live able to play inward soul by the protrude of the NFL season.
Officials unveiled the lean of applicants Thursday and touted their supporting for the upstart industry.
“The countdown is on. Kentuckians put up design to set their first of all sports wagers, at a retail location, inward just 28 days,” Gov. Andy Beshear (D) said in a word release. “Bringing sports wagering to the state non only when gives Kentuckians a much-anticipated unexampled spring of entertainment, but also brings money to the commonwealth to support pensions, freeing up money that tin can be used to build a break Kentucky through the funding of education, economic development, disaster retrieval and other necessary projects, similar providing cleaner water, building roadstead and high-velocity internet.”
Horse Tracks Seek Retail Licenses
Applications for brick-and-mortar sports betting were filed past every licensed track inward the state, including Duke of Marlborough Downs inward Louisville, Ellis Mungo Park inwards Henderson, Oak Grove Gaming and Racing in Oak Grove, The Red Mile inward Lexington, and Turfway Park inwards Florence. Applications were also submitted by two, soon-to-open racetracks, Cumberland River Run inward Corbin, and Sandy’s Gaming and Racing inward Ashland.
Mobile sports wagering licence applications were filed by 7 companies, including Bet365, BetMGM, Caesars, Circa, DraftKings, FanDuel, and William Penn Sports Interactive.
If the applications are approved, the racetracks will live capable to have sports bets at both their primary election and artificial satellite locations.
BetMGM announced before this week that it would partner with Sandy’s Gaming and Racig for a retail location. The contrive is to opened a 5,200-square-foot retail BetMGM Sportsbook this fall.
August 22 Meeting
Commissioners testament voter turnout on the permission applications at their Aug 22 meeting.
The KHRC is excited to open sports wagering and is working efficiently to get together the necessary deadlines,” KHRC Chairman Jonathan Rabinowitz said in a statement. “This is a careful outgrowth dedicated to wagering wholeness and protecting bettors inwards the country of Kentucky.”
In-person sports betting will follow uncommitted September 7, the foremost 24-hour interval of the NFL fixture season. Online wagers will live usable past Sept 28.
Officials feature estimated sports wagering will generate around $23 one thousand thousand in annual revenue for Kentucky, 2.5% of which will tour toward a new created problem play fund.
Mobile sportsbooks testament follow taxed at a rate of 14.25% while in the flesh(p) wagers testament be guinea pig to a 9.75% tax. Sportsbook licensees must also pay off a $500K up-front fee.
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