All About Kentucky Sports Betting Handle And Revenue

BetKentucky.com is your go-to destination for all things related to Kentucky sports betting, and as such, we’ve developed this guide to explain terms such as handle, revenue and tax collections.

Sports betting began in the Bluegrass State in September 2023. State officials chose a gradual launch, allowing brick-and-mortar sportsbooks to start first on Sept. 7, 2023. Online operators received the green light three weeks later.

As of November 2023, seven of Kentucky’s nine licensed racetracks have licenses to serve as sports wagering operators. That allows them to host sportsbooks at their racing venues and their historical horse racing satellite facilities. Those tracks may also partner with up to three online sports betting operators.

Currently, there are eight licensed online sports betting operators in the state; they often offer Kentucky betting promos. Bet365 and BetMGM have partnered with Sandy’s Racing and Gaming. Caesars Sportsbook is connected to The Red Mile. Circa Sports and DraftKings have partnerships with Cumberland Run. Fanatics is partnered with Oak Grove Racing and Gaming. FanDuel is licensed through Turfway Park, and ESPN BET (Penn Interactive) is connected with Ellis Park.

Brick-and-mortar sportsbooks have opened at Churchill Downs in Louisville, Ellis Park in Henderson, Oak Grove and Turfway Park in Florence – all of which operate on the Kambi platform. Caesars has a retail book at The Red Mile in Lexington. DraftKings has sportsbooks at Cumberland Run in Corbin and The Mint Williamsburg, while BetMGM opened one at Sandy’s Racing and Gaming in Ashland.

Through the handle figures released by the administration of Gov. Andy Beshear, the state is following in the path of most other markets that have both online and retail options – that is, the licensed online Kentucky sports betting apps are the preferred choice by most sports bettors in the state.

Kentucky Sports Betting, July vs. June

Kentucky Sports Betting Handle and Revenue: July 2024

Kentucky sports betting is going through the cycle experienced by other states, as evident from the July financial data related on Sept. 5 by the Kentucky Horse Racing and Gaming Corporation.

In all, bettors wagered $129,270,003 for the month. That was down 14% from the June handle of $150,313,713. All but 3% of July’s amount was bet through one of the eight licensed Kentucky sportsbook apps. The mobile handle of $125,385,301 was also down 14% from the $145,710,749 bettors risked in June.

Despite the drop-off in betting, sportsbooks only saw their revenues take a slight hit. The operators reported $15,116,375 in adjusted gross revenues, 1.9% less than the $15,407,161 they collected in June. Mobile apps claimed $14,689,497 of the AGR, down 1.4% from the June tally of $14,900,164.

The state’s sports betting tax – 14.25% of AGR for online operators and 9.75% for retail sportsbooks – mainly pays down Kentucky’s public employee pension shortfall. July’s total of $2,134,874 was 1.7% less than the $2,172,705 reported in June.

It’s been nearly a year since the first retail sports bets were placed in the Bluegrass State. For the 10 months of figures reported, Kentuckians have wagered $2,235,612,930, with $2,152,776,710 placed online. Operators have generated $260,249,572 in revenue, and the $36,747,901 collected in taxes is 59.8% higher than the $23 million state officials expected sports betting would generate in the first 12 months.

DraftKings Kentucky sportsbook topped all operators with a mobile handle of $47,956,003, and FanDuel finished second in July with $41,245,277. Bet365 came in third, accepting $14,802,495, followed by BetMGM’s $6,451,600 and Caesars $5,979,357.

Kentucky Mobile Sports Betting History