As the calendar turns to July, the Kentucky Horse Racing Commission still has not set a date for its special meeting to approve sports betting regulations.
That’s according to a spokesperson for the Public Protection Cabinet, which houses the KHRC, who told PlayKentucky:
“A special meeting date has not been finalized.”
At the KHRC’s June 20 meeting, Chairman Jonathan Rabinowitz said the commission would post a draft of its regulations on its website within the next few weeks, and that there would be a special meeting of the commission in “early July” to vote on and finalize those regulations.
As of June 30, those regulations are not yet on the KHRC website.
“The KHRC is actively engaged with both officials from other states and industry experts, reviewing regulations and best practices,” the spokesperson told PlayKentucky. “This collaborative approach aims to establish clear and thorough regulations for sports wagering in Kentucky. When available, draft administrative regulations will be posted to KHRC.ky.gov. Following the finalization of regulations, the licensing process will open for various types of applicants for sports wagering.”
What the regulations will look like
The Kentucky sports betting regulations will focus heavily on responsible gambling and promotional language. They could also touch on advertising restrictions. They will also outline the license application process.
In order to meet Gov. Andy Beshear’s ambitious goal of a pre-NFL launch, the regulations would need to be approved soon. Only after regulations are in place can sportsbook operators submit their applications for retail and online sports betting licenses. Online applications will take longer than retail ones, as they require more thorough vetting of software and technology.
The NFL kicks off with Kansas City vs. Detroit on Sept. 7. If the KHRC meets and approves regulations on, say, July 7, that would leave commissioners a two-month turnaround to launch sportsbooks.
Not impossible … but not easy either. Especially for online sportsbooks.
Early look at the sports betting landscape
So far, two commercial operators have secured their places in the Kentucky sports betting market:
- Caesars Sportsbook Kentucky is partnering with Keeneland and Red Mile.
- FanDuel Kentucky is partnering with Churchill Downs.
Revolutionary Racing, which owns Sandy Ridge Racetrack and Sandy’s Racing & Gaming, told PlayKentucky it is close to announcing its sportsbook partner. It has also indicated it hopes to sign a deal with one of “the big four.” Does that mean BetMGM Kentucky or DraftKings Kentucky could partner with the Ashland facility?
Also, with 10 venues eligible to partner with up to three online providers, Kentucky is a state ripe for an up-and-coming operator to strike a favorable deal with a racetrack and carve out a decent chunk of the market.
There are several candidates who fit that fast-rising profile, but none more so than a potential Bet365 Kentucky.
Only time will well. Kentucky Downs told PlayKentucky it’s waiting until sports betting regulations are approved to finalize any partnerships. Perhaps other facilities are doing the same.
