Emergency regulations have been approved by KHRC – Kentucky Horse Racing Commission – to make ways for operators in the region. Online sports betting is tentatively expected to open by September 28, 2023. Before that, bettors may be able to access horse track facilities on sportsbooks by September 07, 2023.
Gov. Andy Beshear has appreciated the Commission for taking quick action. They have said that there was a tight timeline, and the Commission delivered the result in that.
The launch dates are tentative but align perfectly with the upcoming NFL season. They could also host college football. Per the regulations, online sportsbooks will be taxed at 14.25%. Brick-and-mortar operators will be taxed at 9.25%. This number is half when compared to the neighboring state, Ohio. It currently hosts offline operators at 20%.
Assuming operators secure the functioning by the tentative dates, they will be right on time for the first match between the Detroit Lions and the Kansas City Chiefs.
Excitement is to a level where even Andy has expressed their desire to place a bet at NFL betting sites. The favorites are in-state teams like the University of Kentucky and Louisville.
The regulations are on an emergency basis and subject to several modifications in the days to come. Beshear has stated that they are willing to adapt and change with time as they learn about the operations and community that is engaging with them. Modifications here could include changing the tax structure or adding more than 9 licenses.
The program is estimated to raise $23 million in the initial year. The number will grow as the years follow. Meaning there is a prediction that Kentucky Sportsbooks will do well in the region and Emergency Regulations will be modified to suit the best interests of the operators and the community.