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In the early stages of Kentucky’s newly regulated online sports betting market, consumers have already wagered $323.6 million. This activity started soon after the state introduced legal online sports betting on September 28, following the launch of retail betting on September 7. The Kentucky Horse Racing Commission (KHRC) released these figures, which include the last three days of September and all of October.
During this initial period, online bets totaled an impressive $323.6 million, with $36.8 million wagered in September’s final days and $286.8 million in October. The adjusted gross revenue from these online bets reached $54.2 million, with October alone generating $52.7 million.
FanDuel, in partnership with Churchill Downs, emerged as the top earner in this new market. The operator reported $20.3 million in revenue from $131.2 million in wagers. DraftKings, aligned with Cumberland Run and The Mint, wasn’t far behind, earning $19.5 million from $124.9 million in bets.
Other contributors included Bet365, in collaboration with Sandy’s Racing and Gaming, which garnered $8.6 million in revenue from a $31.2 million handle. BetMGM, another partner of Sandy’s, reported $2.7 million in revenue from $14.7 million in wagers. Following them were Caesars and The Red Mile with $2.2 million in revenue and Fanatics with Oak Grove racetrack earning $483,010 from $4.6 million in bets. Penn Sports Interactive, operating as Barstool Sportsbook, completed the list with $381,749 in revenue.
Kentucky’s regulations permit each racetrack to partner with up to three online operators while also offering on-site retail betting. To enter the state’s market, online operators must collaborate with one of these tracks.
In the retail sector, which had a head start over online betting, total revenue from September 8 to October 31 was $2.1 million, with $17.1 million wagered during this period. Red Mile led the retail segment with $966,631 in revenue from a $6.8 million handle, followed by Churchill Downs Racetrack and Turfway Park.
Overall, the total sports betting revenue in Kentucky for the opening weeks amounted to $56.4 million, with a combined online and retail spend of $340.8 million. This includes $2.6 million in September and a substantial $53.8 million in October, boosted by the initiation of online betting.