Kentucky has officially joined the roster of US states embracing regulated betting. Among the eight operators launching in the Bluegrass State, is the UK-based international operator, bet365.
bet365 Making headway in US Markets
Having already established its presence in five US markets, including Colorado, New Jersey, Ohio, Virginia, and Iowa, Kentucky marks bet365’s sixth venture in the US. The company’s offerings in Kentucky are set to be extensive, featuring accumulators, cash-out and edit bet options, bet boosts, early payouts on major sports leagues, and a vast online streaming service covering over 780,000 events.A representative from bet365 expressed the company’s enthusiasm: “We are incredibly excited to officially launch in the great state of Kentucky. Now Kentuckians can take advantage of our epic Bet Boosts, the fastest Live In-Game product and best Same Game Parlay experience and see first-hand why the bet365 experience is Never Ordinary.”Since the 2018 PASPA repeal, bet365 has been at the forefront of the North American betting scene, marking its debut in New Jersey in 2019. This was followed by launches in Colorado in 2022, and Virginia, Ohio, and Iowa in 2023.In Kentucky, bet365 faces stiff competition from industry giants like Caesars, BetMGM, FanDuel, Penn Entertainment, DraftKings, Fanatics, and Circa, with the latter still awaiting its launch.Kentucky’s approach to licensing is distinctive. Operators are granted a one-year temporary license for $500,000, with a 14.25% GGR tax rate. Notably, the state has set the betting age at 18, diverging from the typical US standard of 21. Additional licensing stipulations include offering a self-exclusion list, prohibiting terms like ‘risk-free’ and ‘free bets’, and adhering to a sports events catalogue approved by the Kentucky Sports Wagering Advisory Council. However, betting on college athletics, awards ceremonies, and fixed-odds horse racing is off the table.Kentucky’s Governor, Andy Beshear, highlighted the positive impact of sports wagering, stating: “Sports wagering has already been a big hit in the Commonwealth with $4.5m already bet, and that means those dollars stay here in Kentucky. Everyone enjoy, do it responsibly and know that this is a win-win for Kentucky as these dollars will help our people.”