Kentucky Sports Betting Update: Launch Likely by NFL Season

• Sports betting in Kentucky will likely launch by the start of the NFL season on September 7, with the accelerated timeline of House Bill 551 as one of the key regulations in place.
• Additional rules and regulations for legal sports betting in Kentucky include the 18-year-old minimum age, the 27 possible mobile betting apps, and the lack of collegiate betting restrictions.

LEXINGTON, Ky. – Legal sports betting in Kentucky is coming in the near future according to Governor Andy Beshear, with the NFL season opener of the Detroit Lion at the Kansas City Chiefs looming as the expected kick-off date.

According to Beshear, legal sports betting in Kentucky was bound to eventually become the norm in the Blue Grass State given the prevalence of online sportsbooks in surrounding states such as Indiana and Ohio.

The passage of House Bill 551 signed by Governor Beshear on March 31 of this year solidified the fact.

One of the most important and unique aspects of HB 551 was that rules and regulations were to be in place within six months of the law going into effect.

Having gone into place on June 28, that meant legal sports betting sites in Kentucky would have a December 28 launch date. Historically speaking, that six-month turnaround was already among the fastest in the US, but legislators are shooting even higher.

Specifically, lawmakers are trying to launch a regulated market in time for residents to join legal NFL betting sites before the season kicks off on September 7.

Other Rules and Regulations for House Bill 551

House Bill 551 did not just establish the early launch date for sports betting in Kentucky, as it set all the sports betting laws in KY that both bettors and sportsbooks have to abide by in the future.

Some of the notable sports betting rules and regulations put in place by House Bill 551 in Kentucky include:

• Legal Sports Betting Age in KY: 18
• Types of Sports Betting Created: Online, Mobile, and Retail
• Taxation: 14.75% for Mobile Apps and 9.75% for Retail Sportsbooks
• Maximum Mobile Sportsbooks: 27
• Maximum Retail Sportsbooks: 9
• Up-Front Licensing Cost: $500,000
• Annual Licensing Fee: $50,000

One other common sports betting law was not included in HB 551. Specifically, the lack of collegiate betting restrictions was key in Kentucky.

As Andy Beshear said on YouTube, Kentucky is a crazed state for sports.

Of course, Kentucky is not home to any professional teams.

By not banning bets on collegiate powerhouses such as the Kentucky Wildcats and Louisville Cardinals, KY legislators did well to not alienate their residents with their new sports betting law.

News tags: Andy Beshear | College Basketball | College Football | Kentucky | NFL