Kentucky Betting Sites

Kentucky became the 37th state to legalize sports betting when Governor Andy Beshear signed HB551 into law on March 31st 2023. There will be both retail and online betting options available for residents of the Bluegrass State once they’re launched in September 2023.

Kentucky has two high-profile colleges along with an internationally renowned horse race. There are also plenty of professional sports allegiances throughout the state as Kentuckians await legalization.

Bettors do not need to be residents of Kentucky to wager within the state, but simply need to be within state lines. The sports betting apps track the geolocation of mobile devices to verify a bettor’s locale.

Here’s everything you need to know about the upcoming legalization of sports betting in Kentucky.

Is Online Betting Legal in Kentucky?

Legal online betting in Kentucky will launch on September 28th 2023, which will be in time for Week 4 of the NFL’s regular season. Retail betting begins on September 7th 2023, the date of the NFL’s regular season kickoff between the Kansas City Chiefs and Detroit Lions.

The NFL draws the most wagering action, and even though Kentucky does not have a professional team, the sportsbooks will be ready to accept wagers as soon as permitted.

There are nine racetracks in Kentucky and each will be allowed to host three online betting sportsbooks on their license. Kentucky Speedway can also have three, totaling 30 potential online sportsbooks in Kentucky — though the initial total is expected to be lower.

Those 18 and older will be allowed to gamble on sports in Kentucky, while most other states require bettors to be 21 years old. However, Caesars Sportsbook has already said it will not accept wagers from bettors under 21.

The adjusted tax rate will be set at 14.35% for online betting and 9.75% for in-person wagers.

Online casinos are not available in Kentucky. In fact, the state does not even have physical casinos.

Popular Sports to Bet on in Kentucky

Kentucky stands out in its support of certain sports. While many states are focused on the professional level, college basketball and horse racing are a huge part of the draw in the Bluegrass State.

College Basketball

The University of Kentucky is arguably the pre-eminent college hoops program in the country. The Wildcats have won eight national championships and have featured stars like John Wall, DeMarcus Cousins, Jamal Mashburn, Anthony Davis, and Karl-Anthony Towns. Kentucky fans are rabid about their team, and online sports betting will be legal for the first time when the 2023–24 college basketball season rolls around.

The Louisville Cardinals may not have the same decorated history, but they do have a very good program in their own right. They have three national championships and have produced such stars as Wes Unseld, Pervis Ellison, and Russ Smith, while Rick Pitino coached the program at a high level for many years. 

Both programs hope to be among the best in the country every year and now fans in the state can wager on them with legal online sports betting.

Horse Racing

The Kentucky Derby is held on the first Saturday in May and is arguably the biggest horse race in the world. It kicks off the Triple Crown, as celebrities flood to the racetrack to watch the Run for the Roses. 

Horse racing is not permitted at online sportsbooks as it’s considered a separate entity. Bets on the Kentucky Derby will need to be placed at online racebooks like TwinSpires and others.

NFL

Kentucky does not have a professional NFL team. Instead, many residents root for the Bengals, with Cincinnati, Ohio within a two-hour drive of both Louisville and Lexington.

It’s a great time to be a fan of the Bengals — they made the Super Bowl two years ago and remain one of the best teams in the NFL. The Indianapolis Colts and Tennessee Titans are also teams that Kentucky residents tend to root for based on their locale.

MLB

Similarly, Kentuckians don’t have a professional baseball team to root for but will often pin their allegiance to the Cincinnati Reds because of the proximity. 

NBA

There isn’t much allegiance to a particular team in the NBA for those who grow up in Kentucky, but the Wildcats put so many players into the league that there’s still robust interest in how those ex-collegiate stars are doing.

Betting Markets Available in Kentucky

Kentucky is expected to have a wide variety of wagers available to its bettors. Here’s a quick look at the most popular ways to gamble on sports.

Moneyline

A bet that simply chooses the winner of an event. In this type of wager, the margin of defeat does not matter. Due to this, the favorites will pay out less than a standard spread bet, while correctly choosing an underdog to win straight-up will pay out more.

Parlay

A combination of two or more straight bets, in which every wager must be won in order for the parlay to be successful. The degree of difficulty on a parlay bet is higher, which the odds will reflect.

Over/Under

Also known as the total, this bet chooses whether the number of points/runs/goals will finish over or under a specific number.

Against the Spread

A bet against the spread takes points away from the favored team and gives them to the underdog, based on the perceived gulf in talent.

For example, if the spread is seven, the favorite must win the game by eight or more points to cover the spread. A seven-point margin would be a push, while any win by six points or fewer, or an outright loss, would mean a cover for the underdog.

Prop Bets

A prop bet is a wager on an event that does not affect the final outcome of the game. For example, if Bengals wide receiver Ja’Marr Chase has a receiving total of 70.5 yards in Week 1, he would need to reach 71 yards for the over to hit, or stay below that figure for the under to win.

Futures

A wager with a future outcome. For example, gamblers can bet on Kentucky to win the national championship or Joe Burrow to win NFL MVP before their seasons begin.

Live Bets

A wager that takes place during a game. The odds are constantly changing for these bets, so it can be a challenge to lock in the best price during the action. A good time to place them is during a timeout or another break in the action. 

Live bets are intriguing because bettors can combine their pre-game knowledge with the flow of the game. One caveat: the odds tend to be juiced at a higher rate in favor of the sportsbook during live betting.

Betting Apps Available in Kentucky

With a maximum of 30 spots available for sportsbooks, there will be no shortage of options when it comes to betting apps in Kentucky.

Online betting allows gamblers to place wagers from their mobile device, rather than going into a traditional brick-and-mortar shop like a casino. The ease of use is a boon for those who want to bet from the comfort of their home, or while on the go.

Sportsbooks like DraftKings, FanDuel, and Caesars are currently among the cream of the crop in the United States, consistently bringing in the highest betting handles. That is not expected to be any different in Kentucky, with these brands all projected to launch when legalized sports betting is officially enacted in September 2023.

Caesars became the first operator to strike a deal in Kentucky, partnering with Keeneland and Red Mile Gaming and Racing in Lexington. The race tracks and sportsbook will partner to operate both Caesars’ online betting app and brick-and-mortar retail sportsbooks.

FanDuel became the second sportsbook to find a partner, teaming up with the historic Churchill Downs racetrack. FanDuel often has the best odds among the sportsbooks, which makes it a favorite of many gamblers. It also has no shortage of wagers, from standard ones like the moneyline and spread to more exotic prop bets and futures.

DraftKings shouldn’t be far behind in finding a racetrack to partner with. DraftKings is known for its wide variety of wagers, including Next Team Odds bets and a deep well of futures and prop bets. Its app interface is sleek and easy to use, which is a plus for those seeking easy navigation when looking at wagers.

BetMGM, BetRivers, and WynnBet are three other sportsbooks that should be available at that time, giving Kentucky residents a plethora of options. Fanatics could also come aboard at some point.

Several operator options is a good thing, because it means more potential bonuses and promos, along with the ability to odds shop in order to find the best line for a wager.

Payment Methods Available at Kentucky Betting Sites

There are numerous payment methods available at Kentucky sports betting apps, including credit cards, debit cards, and Venmo. The majority of sportsbooks will have a minimum deposit requirement of $10.

Here’s a look some of the more common ways to deposit funds:

Bank Cards

Credit cards like Visa, Mastercard, and Discover can all be used as payment methods. The same holds true for debit cards, and the process is relatively simple for making deposits or withdrawals.

Mobile Payment Services

Venmo and PayPal can be used as a payment method, as can Play+, which is a reloadable account that is available as a funding source in Kentucky. VIP Preferred is another payment option.

Online Banking

Kentucky will allow bettors to use their online banking account as a means to deposit funds, as well as wire transfers.

Kentucky Betting Timeline

The legalization of sports betting in Kentucky was proposed multiple times in the past but did not garner enough votes. That changed in 2023, when both the house and the senate passed the bill, allowing Governor Andy Beshear to make it official.

• 2019: Four sports betting bills were introduced but none passed.
• 2022: The House passed the legalization of sports betting by a 58–30 vote but the bill stalled in the Senate.
• 2023: The House passed HB551 to allow for the legalization of sports betting, and this time it made it through the Senate with a 25–13 vote.
• March 31, 2023: Governor Andy Beshear signed HB551 into law.
• September 7, 2023: The expected launch of legalized retail sports betting in Kentucky.
• September 28, 2023: The expected launch of legalized online sports betting in Kentucky.

Compare Kentucky Betting Sites and Sign Up

The state of Kentucky has wasted no time in preparing for the launch of legalized online sports betting, which will be coming in September for the NFL season.

While the maximum number of allowable sportsbooks in the state sits at 30, there’s expected to be a smaller number at the outset. 

But there are still plenty of options for bettors in the Bluegrass State, as well-known operators like DraftKings, FanDuel, BetMGM, Caesars, WynnBET, and BetRivers are expected to be available at launch.

It’s a great idea to compare the sportsbooks in order to choose one that a gambler likes the most, as they all have slightly different offerings. Sportsbook operators tend to dole out enticing bonuses when a state launches, so that is something to consider for residents of Kentucky as the launch date nears.

Frequently Asked Questions