As the NBA Finals played out, all eyes were on basketball.
The Denver Nuggets defeated the Miami Heat in five games to win the 2023 NBA Finals. And while Kentucky residents weren’t able to bet on the Finals (or any games, for that matter), they will be able to wager on games during the upcoming season.
Gov. Andy Beshear wants the Kentucky sports betting industry to launch before the start of football this fall. That timeline would mean bettors could legally wager a few months before the college and professional basketball seasons tip-off.
When it comes to betting trends nationally, football is king. But could Kentucky — a state where basketball is wildly popular — break the national flow?
Colorado is one state where basketball overrules football
Believe it or not, football isn’t the top sport to bet on in all states.
It could have something to do with the Nuggets’ dominant playoff success, but in Colorado, basketball reigns supreme.
In the last three years, basketball accounted for $3 billion of Colorado’s sports betting handle. And it clearly separated itself from football, which totaled $1.9 billion in wagers.
Even with the last football season in full swing, basketball dominated. Football wagers from November 2022 until January 2023 tallied $394.5 million. In contrast, basketball accounted for $468 million of the handle.
Basketball is the No. 1 sport to bet on in Canada, too
Just north of the U.S. border, basketball ranks No. 1, too.
Ontario, Canada, residents wagered around $35.6 billion in a little more than a year of legal sports betting. And basketball accounted for a whopping 28% of those dollars.
Timing played a role in this, as the first major sporting event Ontario residents could bet on was the 2022 NCAA Tournament. The NBA playoffs started soon after.
It helps the Toronto Raptors, the country’s lone NBA franchise, remain popular and somewhat competitive. There’s also been a recent influx of successful NBA talent from Canada.
“You look at Andrew Wiggins, Shai Gilgeous-Alexander, Jamal Murray, who are all Canadian,” PointsBet Canada Chief Commercal Officer Nic Sulsku told PlayCanada. “These are all guys that are on successful teams that fans in Canada want to follow and support.”
Kentucky is a basketball hotbed
There are no professional sports teams within the Kentucky border, a trait it shares with the Iowa market. But college sports sit atop the Bluegrass State’s sporting world.
Specifically, the state boasts a history of college basketball success.
Kentucky is a college basketball blueblood. Even though UK head coach John Calipari’s team has just one title, the program consistently brings in the country’s top talent and remains a contender nearly every season.
The state has such a rich history within the sport, with names like Anthony Davis, Rajon Rondo, Dan Issel and Rex Chapman atop the list. And don’t forget newly-crowned NBA champion, Jamal Murray. It increases the likelihood of an in-state basketball star becoming a Kentucky sportsbook ambassador.
Louisville is another strong basketball program in Kentucky. The Cardinals haven’t performed up to their standard these past few seasons, but the team appeared in 14 NCAA Tournaments between 2003 and 2019. During that span, Louisville won the 2013 NCAA title.
Throw in Murray State, a midmajor program that often competes for an NCAA Tournament berth, too. Current Memphis Grizzlies star Ja Morant led the Racers to back-to-back NCAA Tournament trips in 2018 and 2019.
Could basketball be Kentucky’s top sport to bet on?
It certainly could.
Football will definitely influence Kentucky sports bettors. The Kansas City Chiefs, Chicago Bears, Indianapolis Colts, Cleveland Browns, Cincinnati Bengals and Tennessee Titans all border the state. And the NFL remains the most-watched sport across the country.
But don’t discount the state’s deep basketball history and love for the game at the college level.
There’s no NBA team to cheer on and influence betting trends like in Colorado or Ontario. But should the state’s launch timeline go according to plan, Kentucky sports bettors will be able to bet on the full NBA and college basketball seasons. And that could very well translate to basketball sitting atop the Kentucky sports betting market.
