The Kentucky Horse Racing Commission (KHRC) has received seven applications for both retail and online sportsbook licenses as legal sports betting set to launch in the state in less than a month.
Each of the state’s racetracks plans to open a retail facility, including Churchill Downs. They will be able to accept wagers at both primary and satellite facilities if they get the green light.
KHRC will announce the successful bidders before the end of the month
The applicants for online approval include DraftKings, FanDuel, BetMGM, and Caesars. The KHRC will announce the successful bidders before the end of the month, with a meeting and votes to take place on August 22.
Retail sportsbooks will be able to open on September 7, which is in time for the new NFL season. Online platforms have to wait until September 28.
Talking about the upcoming launch, Kentucky Governor Andy Beshear said that it will bring a new form of entertainment to the region, as well as provide funds for a wide range of important uses. The tax rate on in-person betting revenue will be 9.75% and 14.25% for online wagering. Operators that get approval for a license will need to pay an initial fee of $500,000.