Sports betting 1 year later: How is Kentucky doing?

LEXINGTON, Ky. (WKYT) – This Saturday marks the one-year anniversary of legalized in-person sports betting in Kentucky.

The Kentucky Horse Racing and Gaming Corporation reports through the 2024 fiscal year, the Commonwealth generated more than $37 million in tax revenue.

Governor Beshear also reported on Thursday that sports wagering generated an additional $2 million in state tax revenue in July. He attributes that to the Paris Olympic games.

Hannah Simms with the Kentucky Horse Racing and Gaming Corporation says sports betting revenue projections are ahead of schedule.

“We have really, really been pleasantly surprised with the interest in the state and reaching those goals much earlier than expected and now far exceeding them,” said Simms.

However, there are some concerns with sports gambling. In the video above, WKYT’s Darnell Crenshaw has one of Governor Beshear’s concerns, which deals with some college student-athletes wagering on prop bets.

Copyright 2024 WKYT. All rights reserved.