We can add one sportsbook to the list of apps not to expect in Kentucky when its sports betting industry launchs.
Betfred, a United Kingdom-based sportsbook that is expanding into the US, does not expect to be available in Kentucky — at least when sportsbooks launch in September, Chief Operating Officer Bryan Bennett told PlayKentucky.
“Currently our plans in Kentucky are uncertain,” Bennett wrote in an email to PlayKentucky following the approval of Kentucky sports betting regulations. “As such, we are unlikely to have an offering available at launch.”
Betfred is legal and live right now in 10 states: Iowa, Arizona, Colorado, Maryland, Louisiana, Pennsylvania, Virginia, Washington, Ohio and Nevada.
Other smaller operators are interested in Kentucky
Kentucky has an incredibly low license application fee ($50,000), and its standards for getting a license — operators just need to be live in three other US jurisdictions — are easy to meet.
Combine those facts with it being the largest 18-and-over betting jurisdiction in the country, Kentucky is an intriguing state for smaller sportsbooks to launch. Especially with heavy hitters Caesars Sportsbook, FanDuel and BetMGM Sportsbook all going 21-plus (we’ll see about DraftKings), smaller operators willing to offer 18-plus betting could carve out a decent-sized chunk of the 18-20-year-old market.
That could be why Circa Sportsbook is considering Kentucky. We wouldn’t be surprised to see a Tipico Kentucky pop up, too.
But no Betfred — at least at launch and, at least, as of our correspondence with Bennett.
If Betfred is out, who is confirmed?
So far, only Caesars Sportsbook Kentucky and FanDuel Kentucky have confirmed their intentions to launch in Kentucky — Caesars via Keeneland and Red Mile, and FanDuel via Churchill Downs.
However, we fully expect more partnerships to be unveiled in the coming weeks now that sports betting regulations are finalized.
A representative for Sandy’s Racing & Gaming in Ashland, for instance, told PlayKentucky this week that it is “very, very close” to announcing its sports betting partner. Previously, the owner of Sandy’s told PlayKentucky they were hoping to secure a deal with one of “the big four” operators.
So … perhaps a BetMGM Sportsbook Kentucky or DraftKings Sportsbook Kentucky in Ashland?
Kentucky Downs in Franklin is also a racetrack to keep an eye on. Here’s a statement it provided to PlayKentucky following regulations being approved on Monday:
“The Kentucky Horse Racing Commission only just approved the sports-betting regulations for Kentucky. We continue the process of doing our due diligence before making concrete plans. We are not in position to further comment at this time but look forward to sharing details down the road.”
