- The Kentucky Horse Racing and Gaming Corporation approved a ninth sports betting license for the state
- The corporation approved Prime Sports’ license application earlier this week
- The new sportsbook will likely launch in the Bluegrass State in 2025
The Bluegrass State will soon have a ninth sports betting operator.
The Kentucky Horse Racing and Gaming Corporation approved Prime Sports’ sports betting license application on Tuesday, Dec. 10, granting the operator the right to launch in Kentucky. It will likely be the sportsbook’s third live state.
Prime Sports is currently live in Ohio and New Jersey. The operator’s parent-company, Plannatech, also has a license to operate sports betting in Arizona, yet has not launched the sportsbook in the state as of yet.
New Operator Coming in 2025
Prime Sports did not give a specific launch date, but will likely not launch until 2025 at the earliest. The sportsbook touts itself as never imposing betting limits on players, allowing each patron to bet the maximum advertised amount for each posted event.
Joe Brennan Jr., co-founder of Prime Sports, told Sports Betting Dime he is expecting the sportsbook to launch in Q1 of 2025, hopefully in time for the March Madness tournament, which kicks off on March 18, 2025.
“We’re very happy about finally getting cleared by Kentucky regulators, and we’re really looking forward to opening up there. You just have to see the news about the $3 million bettor with Circa last weekend in the NFL to know that Kentucky has some really good and serious bettors, and we think we will have a lot of appeal for that cohort,” he said.
Brennan referenced a Kentucky sports betting customer that placed a $3.1 million bet at -700 odds on the Philadelphia Eagles to defeat the Carolina Panthers last Sunday with Circa Sports. The Eagles won by the slim margin of 22-16, netting the patron $442,800.
“Kentucky is the only state to feature both Circa and Prime, so there’s a lot of opportunity for bettors in Kentucky, and we’re looking forward to matching up with them. In the meantime, we’re expecting a launch in Q1 of 2025. It would be great if we could be live in time for March Madness, given the state’s traditional high interest in college hoops,” he said.
Prime Sports will be the ninth sports betting operator in Kentucky, joining DraftKings, ESPN BET, Circa Sports, Fanatics, Caesars, bet365, BetMGM, and FanDuel.
Kentucky Market Thriving in Football Season
Prime Sports will join a sports betting market that seems to be coming into its own. Kentucky launched sports betting in September 2023, which has seen more than $2.8 billion in total online sports betting handle and $106.1 million in retail sports betting handle during the last 13 reported months.
Since launch, Kentucky has brought in more than $46 million in sports betting tax revenue.
According to Kentucky Horse Racing and Gaming Corporation reports, Kentucky sports bettors wagered $265,130,558 in online sports betting handle during October 2024. The corporation reported $18.6 million in gross gaming revenue, which led to $2.96 million in sports betting tax revenue for the month.
October 2024 is the most recent month the corporation has reported.
Here are the online sports betting handle totals for each operator in October:
- DraftKings: $102,713,776
- FanDuel: $92,282,050
- bet365: $24,485,005
- BetMGM: $13,057,278
- Caesars Sportsbook: $11,519,213
- Fanatics Sportsbook: $9,609,212
- ESPN BET: $6,513,082
- Circa Sports: $4,950,942
Kentucky regulators have recently granted approval to Prime Sports for their sports betting operations in the state. This decision comes after months of review and consideration by the Kentucky Horse Racing Commission, which oversees all gambling activities in the state.
Prime Sports, a well-known sports betting operator with a strong track record of success in other states, will now be able to offer their services to Kentucky residents. This approval is a significant milestone for the company, as it opens up a new market for them to expand their operations and reach a wider audience.
Sports betting has been growing in popularity across the United States in recent years, with many states legalizing and regulating the activity. Kentucky is the latest state to join this trend, and regulators are hopeful that allowing sports betting will bring in additional revenue for the state and help support the horse racing industry.
Prime Sports has already begun preparations to launch their sports betting operations in Kentucky, with plans to offer a wide range of betting options on popular sports such as football, basketball, and horse racing. The company is also working on partnerships with local businesses and sports teams to promote their services and attract new customers.
Overall, the approval of Prime Sports for sports betting operations in Kentucky is a positive development for both the company and the state. It will provide residents with more options for legal sports betting and help boost the economy through increased tax revenue and job creation. As sports betting continues to grow in popularity, it is likely that more operators will seek approval to operate in Kentucky, further expanding the options available to bettors in the state.
