The Kentucky Horse Racing Commission (KHRC) has reported that the state’s online sportsbooks took a $175.5m handle in May.
Kentucky operators generated $22.3m in adjusted gross revenue during the month while state excise tax reached $3.1m.
DraftKings led with an online handle of $69.9 million, followed by FanDuel at $58.9 million, bet365 at $15.6 million, BetMGM at $12.5 million, and Caesars at $7.8 million. Kentucky operators reported $20 million in adjusted gross revenue from online wagering, with a state excise tax of $2.9 million. In April, the state’s online sportsbooks generated $22.3 million in adjusted gross revenue and $3.1 million in state excise tax.
Governor Andy Beshear said that 10 months since he placed the state’s first sports bet, sports wagering revenue is beating predictions. He added:
that is money that can be used to help build a better Kentucky and that’s a win-win for the whole state.
Kentucky’s sports betting market launched in two phases: Retail sports betting began on September 7, 2023, followed by online sports betting on September 28. Preliminary figures show that over $37.2m has been collected by the treasury from sports wagering taxes and licensing fees, with over $34.8m going directly to the Kentucky permanent pension fund.
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