Kentucky prepping for huge NCAAB betting turnouts

kentucky betting news march 2024

Updated March 19, 2024By Chris Boline
kentucky betting news march 2024

The talk all around the world of sports betting this month is of course March Madness, but this is especially true in states where gaming has seen some big changes, like Kentucky. Per a recent article from a media outlet in the state (WKYT), Kentucky’s online sports betting went live this past September, making this year’s March Madness season the first where Kentuckians have the opportunity to bet online. “I like to be part of it,” said Charles Hagg, who bet on Kentucky to beat the Texas A&M Aggies. “I won with [Kentucky] last weekend against Tennessee, so I’m not betting a lot, but I’m hoping for a win.” In Kentucky, where college basketball reigns supreme, some said being able to bet on college-level games will benefit the program. 

For this article, SBS will be going over what to look for from the latest gaming news coming from the Bluegrass State along with more notes and information regarding Kentucky wagering. 

Gaming officials touting value of sports betting in state

As noted in the same article, many associated with Ketucky’s gaming scene are excited about the value sports betting brings. “Well, as Central Kentuckians, this is the time of year we live for. I mean, it’s ‘go time,’” Gabe Prewitt, who is the Vice President of Racing and Sports Wagering Operations at Red Mile Racing said. “I think it’s just added a different element, and I think it’s a great atmosphere.” Others said the online sports betting option could bring in new fans to college athletics. 

“It’s good for the sport, it’s good for the college because it gives them more fans that don’t really watch them,” Chuck White, who bet on the Wildcats, said. “Now we got to watch them to know what we got to be on next.” 

Residents are thrilled about gambling updates in state

Kentucky was one of the last states to allow for sports betting, and sports bettors at Red Mile said they are relieved they no longer have to travel to place their bets per the article. “I don’t have to travel to Belterra like I was doing occasionally,” Hagg said. “This is close, I’m from Frankfort, it’s very nice.” While sports betting can add an extra layer of excitement as the article notes, some bettors are reminding others to be cautious and to find a balance. 

“I just hope people don’t risk money they don’t have, but you know you can bet a little bit and enjoy the game,” Sonny Lenahan, who also bet on the Cats, said about sports wagering in the state. “It makes it just a little more enjoyable, especially when you win.” 

Kentucky sports betting authorized back in September

As referenced in another article, sports betting in Kentucky kicked off in early September around the start of the NFL season. Mobile betting, which of course allows bets to be placed online using smartphones, will begin later this month. The venture is projected to generate about $23 million in yearly revenue for the state, though some supporters predict higher amounts. Most of the revenue will go to Kentucky’s public pension system. Moreover, it will stop the siphoning of revenue to other states where Kentuckians previously placed sports bets. Sports betting became a reality after a prolonged political fight. The state’s GOP-dominated Legislature finished work on the bill to legalize, regulate, and tax sports wagering in late March during the final hours of its annual session. Kentucky Governor Andy Beshear quickly signed this measure into law. 

For some Kentuckians, as noted above, the launch of sports wagering was a milestone they thought might never occur after proposals to legalize it died in previous years. However, critics of sports betting see it as an addictive form of gambling that will hurt Kentucky families. A small percentage of tax revenue will flow into a fund to help combat problem gambling. The U.S. Supreme Court cleared the way for legalized sports betting five years ago, since then nearly three-fourths of the state have moved to allow it. 

Wagering on horse racing is a time-honored tradition in Kentucky, which bills itself as the world’s horse capital. In recent years, the state’s horse tracks have capitalized on a new form of gambling – slots-like historical horse racing machines that allow people to bet on randomly generated, past horse races. The games typically show videos of condensed races. Now the state has ushered in sports betting at racetracks and other track-affiliated venues. Beshear, who pushed to legalize sports betting throughout his term, put state regulators on an accelerated timetable to put the regulations in place to oversee the new form of gambling around the start of the NFL season. 

Other thoughts and info regarding Kentucky betting

After you are all dialed in reference to all the latest gaming updates coming from Kentucky, make sure to tap into the great array of information for you only at SBS. Of course, for even more information on the topic at hand, the Kentucky sports betting guide has you covered with all of the latest updates and notes coming from the Bluegrass State. On a separate note, if you are interested in diversifying your payment options, look no further than the payment methods rundown. Here you can find all kinds of methods for deposits and withdrawals from crypto to more traditional banking routes. Finally, if you are interested in more news on the shared topic above, check out the March Madness betting sites breakdown where you can see the latest news and notes coming from the world of college basketball. 

About the Author

Chris Boline

Chris Boline

As a devout aficionado of sports, Chris Boline has carved a career within the athletic realm. A skilled scribe, he boasts a decade-long portfolio that encompasses coverage of the NBA G League, the Los Angeles Chargers, football in the Mountain West Conference, and basketball.
Beyond his professional pursuits, Chris is deeply invested in his community and dedicates his leisure hours to serving on boards, collaborating with community organizations, and cherishing the company of loved ones.

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Author: Richard Gonzales