The fastest time for Kentucky players to pre-register their accounts with an approved mobile application is August 28 at 6:00 a.m. EDT. Players can only deposit money into pre-registered accounts with approved mobile applications.
The Kentucky Horse Racing Commission (KHRC) will meet on August 22 to vote on the license application. Their vote will define a list of approved retail facilities and online sportsbook applications.
Kentucky launches tiered sports betting implementation
Like a few other states, Kentucky has decided to launch sports betting using layered implementations. Kentucky regulators believe this realization would be better because it could test policies and procedures before a full launch.
Jonathan Rabinowitz, chairman of the Kentucky Horse Racing Board, said in a news release on Kentucky.gov :
“KHRC is happy to open its sports betting and is working efficiently to meet the required deadlines. This is a deliberate process committed to protecting those who bet and bet on integrity in Kentucky.”
Kentucky’s sports betting is finally happening after years of hard work
Earlier this month, Beshear announced retailers and sports betting applicants seeking licenses in Kentucky.
In July, Beshear and KHRC announced that Kentucky people could make their first sports bets in September. Soon, KHRC members unanimously approved emergency administrative rules to control state sports betting.
After years of efforts to pass the sports betting bill, the Kentucky Senate passed the bill by a 25-12 vote on March 30. At that time, 23 votes were needed to pass by 3/5 votes.
House Bill 551 legalized sports betting in Kentucky, becoming the first state to legalize it in 2023, and the 37th in general.
Sports gambling could bring $23 million a year to Kentucky
Kentucky’s sports betting is estimated to bring in $23 million in annual revenue growth when fully implemented. This fund will be used to:
Kentucky Permanent Pension Fund
2.5% in problem gambling support account
HB 551 established a consumption tax of 9.75% for retail sports betting and 14.25% for online betting. The bill does not allow promotional credit deductions for operators.
Legal sports betting is allowed for people over 18 years of age
Kentucky will allow legal sports betting from the age of 18, which has been criticized by many, as well as the Ohio Casino Management Board and Executive Director Matt Schuller.
He said: “I absolutely hate the idea that people under the age of 21 can cross the border and open accounts and make bets. I think it’s terrible.”
“The age group with the highest risk of gambling problems is men between the ages of 18 and 35. Young people are most vulnerable because they are not old enough to deal with the consequences of their actions thoroughly. That’s not my opinion. It’s a scientific fact안전 슬롯사이트