Posted on: October 25, 2023, 12:21h.
Last updated on: October 25, 2023, 12:21h.
Nearly $250 million has been wagered in Kentucky since the launch of sports betting a little more than 10 weeks ago. That’s according to Kentucky Governor Andy Beshear.
Legalized sports betting began September 7 in the Bluegrass State. The bulk of the sports betting handle came in the last three weeks, when sports wagering through mobile devices began. About $232 million has been wagered through mobile devices since September 28.
In a statement, Beshear called sports betting a “win-win,” and added that Kentuckians have now opened nearly 500,000 betting accounts.
“Kentucky is approaching $250 million wagered. That is a strong number that certainly reflects excitement for the opening of sports wagering.” said Gov. Beshear. “It has taken many years to get here, but sports wagering is finally a reality in Kentucky.”
“Win-win” is a phrase often used by Beshear, as the Democratic incumbent looks to election day next month. The legalization of sports wagering has been his key pitch to voters, as reported in Casino.org.
Gov. Beshear helped kick off sports betting in Kentucky with his own wager on September 7.
New Retail Racing and Gaming Center
Ashland, Kentucky is the site of a new gaming and entertainment center opening. Sandy’s Racing and Gaming begins operations October 26.
Revolutionary Racing Put $75 million into the center. It is expected to generate $11 million in annual state tax revenues and produce 250 new jobs.
Since the September 7 launch of sports betting, it’s estimated about $15.7 million has been wagered in the state’s licensed retail sportsbooks, far less than the $232 million wagered through mobile devices.
The Ashland location, in Eastern Kentucky, will also feature an equestrian center and quarter horse race track. Construction is expected to complete in 2025.
Kentucky’s Sports Betting Age
When Kentucky kicked off sports betting last month, it became the largest market to allow 18-year-olds to wager.
All but five states require residents to be at least 21-years-old to take part. Montana, New Hampshire, Rhode Island, Washington, and now Kentucky have an 18-year age limit.
The age limit and the expansion of gambling is raising concerns among responsible gaming advocates, as reported by Casino.org.
Large Universities in the Bluegrass state add to those concerns, with the University of Kentucky and University of Louisville combining for an undergrad population of roughly 40,000. Many of those are under 21.
The National Council on Problem Gambling does not recommend a standard sports betting age limit. However, the group does applaud sports books that stay with a 21-year-old rule.
Earlier this year, responsible gaming concerns prompted sportsbooks and schools across the U.S. to end partnerships.
