FRANKFORT, Ky. (AP) — Sports activities betting in Kentucky is off to a robust begin proper out of the gate, attracting greater than $4.5 million in wagering since launching two weeks in the past, Gov. Andy Beshear stated Thursday.
And the tempo will choose up considerably in every week when cellular wagering launches, he stated.
Sports activities wagering amenities opened throughout the Bluegrass State on Sept. 7 within the first part of the rollout, made potential when the Legislature completed work on a invoice to legalize, regulate and tax sports activities wagering in late March throughout the ultimate hours of its annual session. Beshear shortly signed the measure into regulation.
Beshear positioned the first sports activities wager at Churchill Downs, house of the Kentucky Derby, fulfilling a pledge that his administration would launch sports activities wagering in time for the NFL common season. Opening day for sports activities betting got here on the identical day because the NFL’s first sport of the season.
For the reason that retail launch, preliminary figures present sports activities wagering has topped $4.5 million throughout Kentucky, Beshear stated in an replace throughout his common information convention.
“It is a sturdy quantity that definitely displays the joy Kentuckians have for the opening of sports activities wagering,” the Democratic governor stated. “With faculty soccer and the NFL season underway, plus the launch of cellular wagering, we count on that quantity will develop considerably.”
Beshear pushed to legalize sports activities betting all through his time period. The governor is looking for reelection this yr, and his Republican challenger, Daniel Cameron, additionally touted what he sees as the advantages of sports activities wagering for Kentucky at a gubernatorial discussion board Wednesday night time.
“I’m happy that we’ve sports activities wagering right here within the commonwealth,” Cameron stated. “And I definitely suppose that it’s going to have an financial profit to our state. There’s no query about that.”
Beginning Sept. 28, Kentuckians can start putting sports activities wagers on their smartphones. In preparation for the cellular opening, individuals can create an account and deposit cash into licensed cellular wagering functions. Greater than 60,000 cellular accounts are preregistered within the state, Beshear stated.
Kentucky lawmakers established a brand new excise tax on sports activities wagering: 9.75% on the adjusted gross revenues on wagers made at a licensed facility and 14.25% on wagers positioned on-line or on a smartphone.
As soon as absolutely applied, sports activities wagering is projected to generate about $23 million in yearly income for the state, though some supporters predict greater quantities. A lot of the income will movement into Kentucky’s public pension system. It additionally will cease the siphoning of income to different states the place Kentuckians beforehand positioned sports activities bets, supporters stated.
However critics of sports activities betting see it as an addictive type of playing that may harm Kentucky households. A small proportion of sports activities wagering tax income will movement right into a fund to assist fight drawback playing.
