Kentucky Gov. Andy Beshear has lofty goals for sports betting in his state. Just days after signing a Kentucky sports betting bill into law, Beshear said he wants sportsbooks launched by next NFL season.
“The people are really excited about this, so we want to get it up and going as quickly as we can but also to do it right,” Beshear said at a news conference earlier this month, according to the Associated Press.
The NFL season kicks off in September. The Kentucky sports betting bill, HB 551, states the Kentucky Racing Commission shall “establish a fully functioning sports wagering system within six (6) months after the effective date” of the bill.
The effective date is June 28, meaning the commission’s deadline is Dec. 28 — just before the end of the NFL regular season.
“I would really like to have it ahead of that first NFL game, knowing that that is a big starting date for people,” Beshear told reporters.
Kentucky regulators would have 71 days to launch before NFL season
In order to meet Beshear’s expedited timeline, Kentucky regulators would need to set up their state’s sports betting systems within just more than a couple months after the bill was signed. To be exact, there are 71 days between June 28 and Sept. 7, when the NFL kicks off the 2023 season at Arrowhead Stadium in Kansas City.
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NFL betting is, by far, the most popular form of sports gambling in the US. Despite there not being a professional football team in Kentucky, that trend will no doubt hold true in the Bluegrass State. It’s understandable why Beshear wants bets to be legally placed on NFL games: They’ll create lots of tax dollars.
Is this fast of a launch even possible?
Is that fast of a launch possible? Yes. Anything is possible. Will that be extremely difficult? Also yes.
Massachusetts regulators recently drew rave reviews with the efficiency of their launch. It took them nearly six months (Aug. 10, 2022, to Jan. 31, 2023) to launch retail sports betting. Online sports betting launched 38 days later. For comparison, it took Michigan 10 months to launch apps after its retail sports betting went live. In Maryland, it took 11 months.
So, long story short: If there’s any chance for sports betting to be live in Kentucky by Sept. 7, it may only be in a retail capacity.
Details on sportsbook licenses in Kentucky
The bill Kentucky lawmakers passed allows for the state’s nine horse racetracks and Kentucky Speedway to operate retail sportsbooks. In addition, those 10 facilities can share online operator licenses with up to three companies. That means there could potentially be as many as 30 Kentucky online sports betting sites.
However, that’s highly unlikely — as Massachusetts had only six apps at launch, and its revenue projections are considerably higher than Kentucky’s. Meanwhile, as the industry prepares for launch, check out the best KY sportsbook promos state bettors can expect by simply following the provided link. This includes sports betting bonuses from such top books as DraftKings Kentucky Sportsbook, FanDuel, Caesars and Bet365 Sportsbook Kentucky.