This article is part of our Kentucky Sports Betting News series.
In the final week of March, Kentucky Governor Andy Beshear signed the state's sports betting bill (HB-551) into law. While this is great news for residents of the Bluegrass State, they will have to wait until June 29, when sports betting will officially be available for people to wager on Kentucky sportsbooks.
Below, we will analyze the recent Kentucky sports betting news and how it applies to the upcoming Kentucky Derby. Here's what we can expect for sports betting in the Bluegrass State, including the launch of sports betting apps.
Recent Kentucky Sports Betting News
As mentioned in the intro, Gov. Beshear signed HB-551 into law, which legalized sports betting in the state of Kentucky. When the launch of online sports betting is scheduled, there will be plenty of sportsbook promo codes lined up to welcome new bettors in Kentucky. Beshear was one of the few governors in America who was heavily in favor of sports betting, and why wouldn't he be? Kentucky is notorious for its great wealth of horse racing tracks, and it gets plenty of fanfare as well.
In a recent article from BetKentucky.com, they did an example of a Google Trends search from 90 days prior to April 19 on the Kentucky Derby. What they found is that Kentucky had a 100 score, in terms of level of interest on the event; the next closest state was nearby Indiana, which came in with a score of 37. This bodes well for bettors, who will have a chance to claim various Kentucky sportsbook promos as the operators will compete for customers.
One of the main catalysts in Kentucky getting sports betting was Beshear mentioning in initial discussions that surrounding states were already legalizing it – Illinois, Indiana, Ohio, Tennessee, and West Virginia all have it.
When Will Sports Betting Launch in Kentucky?
Although the bill was signed into law at the end of March, it still takes time for everything to be finalized and put into motion. Residents of Kentucky can expect sports betting to be legalized on June 29, when they will be able to place wagers on sporting events and many different markets via the sports betting sites of numerous sportsbook brands.
One thing that sports bettors should be aware of, though, is that the PayPal payment method may not be available for another 4-6 months. In Kentucky, there is a six-month period for the racing commission to get their regulations managed. It has been noted in previous articles that it may not take the full six months, but it will clearly take some time – time that residents of the state would rather waive in order to get sports betting underway on the top PayPal betting sites.
One brand you could see in the state are BetMGM Kentucky, which is one of the most popular operators in sports betting. The other is Caesars Sportsbook Kentucky, which is set to make a splash in the Bluegrass State.
Will Kentucky Bettors Be Able To Bet On The Kentucky Derby?
It appears like Kentuckians will be able to wager on the Kentucky Derby using the traditional online methods and credit card betting sites like most other states. However, that will only apply to horse racing for now, and then the other popular sports will likely come down the track later on in 2023. Many people are certainly hoping for sports betting to be available for NFL when it begins in September.
Of course, residents of Kentucky will be able to go straight to the Churchill Downs racetrack and place their bets on the Kentucky Derby there. While this has been a long process for hopeful Kentuckian sports bettors, everyone is in agreement that they are ready for it to be finalized and start placing their bets.
