The Kentucky Horse Racing Commission announced it would schedule a special July meeting to review and approve the state’s sports betting rules and regulations.
“We will continue to provide updates on the progress as available, but needless to say this is an exciting time in the commonwealth,” Kentucky Horse Racing Commission (KHRC) Chairman Jonathan Rabinowitz said at the KHRC meeting.
Rules and regulations by July
According to the approved KY sports betting bill, the Kentucky Horse Racing Commission has six months starting June 28 to determine regulations and licensing processes for the state. It will easily reach that benchmark if the regulations are approved in early July.
Once the commission completes the regulations, the state’s nine racetracks can begin applying for sports betting licenses. The commission will have to review the license applications, award the applications, ensure that both retail and online sportsbooks reach regulatory compliance, and then give the green light to begin sports betting.
Rabinowitz also noted at the KHRC meeting that the commission has reached out to sports betting regulators in Colorado, Indiana, Ohio, New Jersey, and Massachusetts to ensure best practices are met.
Their insights have proved to be “valuable” in helped the commission determine what’s best for the Bluegrass State’s sports betting program.
In order to meet the necessary manpower to launch sports betting in the state, Rabinowitz said 14 employees will be hired by the commission.
Retail sports betting by football season
Sen. Majority Leader Damon Thayer (R-17) and Gov. Andy Beshear (D) have both shared their optimism that brick-and-mortar sports betting will begin in the state by the start of the football season.
According to the Madison Courier, Beshear is hoping to see Kentucky sports betting launch by September in time for the next NFL season.
Beshear shared his hopes for a September launch date during a May press conference. The Kentucky governor said the state would utilize “best practices” from other states that have launched sports betting to ensure a smooth and quick start.
Thayer also told Saturday Down South that progress is being made on the sports betting regulations and he is still hopeful for a brick-and-mortar launch by football season.
Kentucky sports betting bill details
The Kentucky sports betting bill legalizes retail sports betting at licensed state horse tracks, such as Churchill Downs, as well as online sports betting throughout the state. Each licensed horse track (of which there are nine in the state) will be eligible to partner with up to three online sports betting skins, allowing for a maximum of 27 operators in Kentucky.
The 27 maximum operators will allow for a mix of the more established online sports betting operators as well as smaller operators hoping to get into the market.
