Kentucky will use a tiered implementation to roll out sports betting.
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(Frankfort, Ky.) – The opening day of sports betting in Kentucky is just weeks away.
Governor Andy Beshear announced this week that sports betting will go live at licensed retail facilities at 10:00 a.m. on Thursday, September 7.
A list of approved retail facilities and mobile applications will be released on August 22.
“The countdown is on. We are just three weeks away from sports wagering in Kentucky,” said Gov. Beshear. “We are ready to deliver the quality entertainment experience Kentuckians asked for, while bringing money to the state to support pensions and free up funds that can be used to build a better Kentucky.”
Kentucky has chosen a tiered implementation to roll out sports betting. Approved mobile applications can start taking wagers as of September 28.
Sports betting will generate an estimated revenue increase of $23 million a year upon full implementation that will be dedicated to the Kentucky permanent pension fund and 2.5 percent to the problem gambling assistance account. The bill also established a new excise tax on sports wagering: 9.75 perncet on the adjusted gross revenues on wagers made at a licensed facility and 14.25 percent on wagers placed online or on a smart phone.
For more information about sports wagering in Kentucky, visit KHRC.ky.gov.
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