Sports activities betting is prospering within the Commonwealth.
Throughout a particular assembly of the Kentucky Horse Racing and Gaming Company Dec. 10, director of sports activities wagering Hannah Simms mentioned that since sports activities wagering was made authorized in September 2023 and thru October of this yr, $2.9 billion price of bets have been positioned in Kentucky. This determine displays retail and on-line wagering and has introduced in $46.1 million in state excise taxes. October 2024 accounted for $274.9 million, which generated $2.9 million in state excise taxes.
Pari-mutuel wagering division useful resource supervisor Melissa Combs-Wright mentioned the numbers evaluating October 2024 to October 2023 are additionally favorable. With $17.3 million wager, there was a 2% improve yr over yr. In the meantime, Commonwealth tracks noticed $7.5 million in simulcast wagers and historic horse racing was up $819 million, up 12% from October 2023. She famous that complete superior deposit wagering deal with was $298 million.
Combs-Wright mentioned that for fiscal yr 2025, which covers July 1 by way of Oct. 31 of this yr, line wagers totaled $25.8 million, simulcast $30.7 million, HHR $3.3 billion, which is up 10% from the identical interval a yr in the past. She added that ADW betting equaled $111 million.
The KHRGC unanimously accepted the renewal of the 9 sports activities wagering service supplier licenses lively in Kentucky: Caesars Sportsbook, FanDuel, BetMGM, Circa Sports activities, DraftKings, Fanatics, bet365, ESPN Guess, and Kambi. The KHRGC additionally accepted the preliminary license for Prime Sports activities Kentucky.
The advance deposit account wagering licenses for subsequent yr had been additionally accepted.
Additionally on the docket for the KHRGC was the voluntary implementation settlement with the Horseracing Integrity and Security Authority and the Horseracing Integrity and Welfare Unit for 2025.
The settlement with HISA and HIWU is ready to run out Dec. 31, however an settlement to proceed the connection wanted to be executed by Dec. 13. Travers Manley, KHRGC senior vice chairman of gaming, mentioned that the proposed settlement “has comparable phrases and circumstances” because the one at the moment in place, noting among the modifications are mirrored in how the KHRGC is referenced.
As lawsuits difficult the constitutionality of HISA/HIWU are nonetheless ongoing, HISA mentioned it wanted further time to “overview the settlement and wouldn’t be ready” to signal it. Manley mentioned that with the intention to have an settlement in place earlier than Friday’s deadline, it was really helpful the KHRGC approve that harmony. The KHRGC did so with none objections or abstentions.
“The settlement could also be terminated instantly if HISA is discovered unconstitutional or a courtroom…restrains HISA or HIWU from working,” Manley mentioned.
Additionally Tuesday, the KHRGC additionally accepted a request by Turfway Park for $18,885 for backstretch enchancment.
