Legal sports betting launched in Kentucky on September 7
Image source: unsplash.com, rupixen
As of September 7, 2023, Kentucky became the 35th US state to offer legal sports betting. The first bet of $20 was made by Kentucky Governor Andy Beshear at the bookmaker's office at the Churchill Downs racetrack.
Under previous legislation passed by the state Legislature, retail sports betting is allowed at sportsbooks at the state's nine racetracks. Gross betting income is taxed at 9.75%.
Racecourses were also allowed to run up to three sports betting sites in partnership with online operators. Online sports betting starts on September 28. Income from online betting will be taxed at a rate of 14.25%.
Sports betting is expected to generate about $23 million in annual tax revenue for the state.
Published September 9, 2023 by Brian Oiriga
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