Everything to know about Kentucky sports betting

Kentucky online sports betting is now live, establishing it as the 37th state to host legalized sports wagering.

Kentucky Governor Andy Beshear signed bill HB 551 into law on the last day of the state’s 2023 legislative session. This came after the bill was passed by the House and Senate back in March.

The Kentucky sports betting law allows the state’s nine horse racing venues, as well as the Kentucky Speedway, to possess three online sportsbook skins each. There is the potential for a whopping 30 online sportsbook brands to conduct business in the state and many of the industry’s biggest brands have already agreed to go live in Kentucky.

Notably, the HB 551 bill states that the sports betting tax rate will be 9.75% for in-person sportsbooks and 14.25% for online sports wagering.

As expected, lawmakers and regulators want Kentucky sports betting to be live and operational for the 2023 NFL season—considering the hysteria that comes along with NFL betting.

The Kentucky Horse Racing Commission will regulate and oversee the sports wagering business, which will begin accepting in-person wagers on Sept. 7, 2023. 

Update: September 28th – Online sports betting is now live in Kentucky with five online sportsbooks:

BetMGM offers promotions for both new and returning customers, along with one of the best varieties of betting markets on any site. Furthermore, you will find key features such as bet editing, early cashout, a parlay builder, and more when betting at BetMGM. 

Be on the lookout for frequent bonus bet tokens after making your new BetMGM Sportsbook account.

Caesars and sports betting go hand in hand. Already laying the groundwork for a seamless launch in September, Caesars has agreed to a partnership with Kentucky’s Keeneland Racetrack and Red Mile Gaming & Racing.

Bet like an emperor at Caesars with their evolving odds and profit boosts that coincide with a vast range of betting markets. A top-notch desktop and mobile experience adds to the attraction of this brand. 

The welcome offer normally gets you started with some Rewards and Tier points, which is a nice cherry on top.

Deemed as one of the consensus best sportsbooks in the game, DraftKings will surely be a big player in the Kentucky sports betting demographic. 

DraftKings provides its users with some of the best promotions, including daily odds boosts and free-to-play pools. You won’t find a sports betting site that offers more markets and bet types, maybe as many, but never more.

Meanwhile, DraftKings offers live streaming of events, in-game betting, and same game parlays.

Right up there with DraftKings in terms of mainstream popularity, FanDuel boasts all of the best key features that a sportsbook could possibly possess. Not only that, but it owns one of the most user-friendly interfaces available.

With one of the most impressive lineups of ongoing promotions, FanDuel takes care of its returning and loyal customers. 

Horse racing fans will be pleased to know that the FanDuel Racebook is easily accessible from the sportsbook with just one click.

If you’ve never used Bet365 in the past, you’re missing out on some of the best promos in the business. Possessing most of the key features as the biggest brands in the industry, like in-game betting and early cash out, Bet365 is a worthwhile sports betting option.

Bet365 has ongoing promotions such as multi-sport parlay bonuses, early payout offers, and bet boosts. Meanwhile, their welcome offer is amongst the very best on the current market.

The betting markets and bet types aren’t the most extensive, but they certainly aren’t lacking enough to make Bet365 a subpar sportsbook. In fact, it’s a lesser-known brand that deserves some of your attention.

Every online sportsbook that goes live in the Bluegrass State on Sept. 28 will have promotions for you to benefit from. These promos will be geared toward both new and returning players. View below:

When signing up for an online sportsbook, it’s important to know the details of the site’s welcome offer. Every sportsbook’s sign-up bonus is different in some capacity—and some are better than others.  

DraftKings is offering their new Kentucky players a bet $5, get $200 in bonus bets instantly offer, which also comes with no brainer bets.

At FanDuel, first-time KY bettors can participate in a great welcome bonus upon sign-up.

Kentucky bettors can sign up at BetMGM to benefit from a first bet offer of up to $1,500 paid back in bonus bets if their first bet loses. Use promo code ‘MLIVEMGM‘.

bet365 is enticing KY residents to register by offering a great “Bet $1, Get $365 in Bonus Bets” welcome offer.

You can sign up at Caesars, enter code ‘SLMLIVEGET‘, and take advantage of a “Bet $50, get $250” offer.

Once you’re all signed up and a member of a sportsbook, head over to the ‘Promotions’ tab to see what else the site is offering. One type of promo that you’ll encounter frequently is bet insurance.

For example, BetRivers is offering an MLB Parlay Insurance promo that grants users their money back (up to $25) if exactly one leg of their four-leg MLB parlay loses. 

Another form of promotion that’s exclusive to existing patrons is the Bet & Get. This promotion allows you to earn bonus bets just by placing a specific amount of wagers.

For instance, a sportsbook will offer users in certain states the opportunity to receive a $100 bet credit when they deposit and wager $100. Simply bet $100+ in order to get $100 in the form of a bonus bet.

Parlay wagers already have pretty steep odds more often than not, but some sportsbooks will offer even more enhanced odds on certain parlays.

Take Bet365 for example, which gives customers up to a 70% boost on tennis parlays. Just place a pre-match parlay of two or more legs on the moneyline, first set moneyline, and/or set betting markets—and if you win—you’ll receive a boost of 5-70% to your winnings.

Just about every popular and reputable online sportsbook has a refer-a-friend program of some kind to entice its customers to recommend their site to friends. Take a look at the refer-a-friend programs from the previously detailed sportsbooks below:

Most sportsbook bonuses, especially welcome offers, will have wagering requirements tagged to them. This refers to how much you are required to bet in order for your bonus funds to be withdrawable. Take the following as an example:

Some welcome offers will have a 15x wagering requirement attached to their bonus bet funds. Say you receive a $100 bonus bet. A 15x play-through requirement would make it so you’d have to wager through $1,500 ($100 x 15) before any of your bonus funds become withdrawable. 

Basically, the lower the wagering requirement, the more favorable the bonus. The best bonuses either have a 1x wagering requirement or immediate withdrawable funds. You’ll sometimes find promotions where bonus funds are non-withdrawable also.

Registration processes are fundamentally the same, regardless of which sportsbook you’re signing up for. In fact, the sign-up process will normally take under five minutes to complete. 

Adhere to the following steps:

We always recommend making accounts with multiple sportsbooks. We say this for a couple of reasons. First, you can take advantage of more than one sign-up bonus. Second, you may try different sportsbooks in order to better determine your favorite.

With sports being such a staple in the Bluegrass State, it may come as a surprise to some that there are no professional sports franchises that call Kentucky home. 

It’s college athletics that takes center stage in KY, and they include the following:

KY legislators have lifted the outlaw that previously prohibited betting on in-state college teams. 

Notably, Kentucky residents do cheer for neighboring pro sports teams. The most popular include:

Kentucky already has several responsible gambling helplines in place to assist those in search of help. The Kentucky Council on Problem Gambling offers both gambling problem prevention and awareness outlets. 

You must be at least 18 years of age and physically located in Kentucky to place sports wagers.