Seven operators have applied for online sports betting licenses in Kentucky. [Image: Shutterstock.com]
The Kentucky Horse Racing Commission (KHRC) has received seven applications for both retail and online sports licenses as legal sports betting is set to launch in the state in less than a month.
Both racetracks in the state plan to open a retail facility, including Churchill Downs. They will be able to accept bets on both primary and satellite facilities if they get the go-ahead.
KHRC will announce the winners before the end of the month
Applicants for online approval include DraftKings, FanDuel, BetMGM, and Caesars. KHRC will announce the winning bidders before the end of the month, with a meeting and vote on August 22nd.
Sportsbooks will open for retail on September 7, just in time for the new NFL season. Online platforms will have to wait until September 28th.
Speaking about the upcoming launch, Kentucky Governor Andy Beshear said it would bring a new form of entertainment to the region, as well as provide funds for a wide range of important uses. The tax rate for personal betting revenue will be 9.75% and 14.25% for online betting. Operators who get approved to obtain a license will need to pay an initial fee of $500,000.
