Get the facts: What to know about how sports betting will work in Kentucky
Sports betting is starting to take shape in Kentucky. Get the facts on when and how it'll work.
Brick-and-mortar sports books will be able to start taking wagers on Sept. 7 in Kentucky, according to new regulations approved Monday by the Kentucky Horse Racing Commission.
Online bets placed in the state will be allowed Sept. 28.
The commissioner voted unanimously to approve sports wagering regulations on Monday, with Gov. Andy Beshear signing the emergency regulations immediately thereafter during a press conference.
"September 7 is the first regular season game of the NFL," Beshear said. "It's also when Murray State plays Louisville and it's just a couple days before Kentucky plays EKU."
Lawmakers legalized sports wagering in the state earlier this year, tying the growing form of entertainment to Kentucky's signature horse racing industry.
Starting Tuesday, all 11 Kentucky horse racing facilities will be allowed to apply to have a retail sports book license. Including gaming facilities owned by horse tracks, a total of 14 retail sports books could be operating in the state.
Churchill Downs and FanDuel have already announced their partnership and intent to apply for a license.
The first-time initial fee for a license will cost $500,000, with a $50,000 renewal fee.
Gov. Andy Beshear signed off on the regulations immediately after the meeting.
He said the projected yearly revenue from sports betting is $23 million, and is expected to grow over time.
Starting online betting two weeks after retail wagering will allow the commission to fine tune regulations, Beshear said.
"Making sure there aren't underage people signing up, finding out where the different challenges are," he said.