Kentucky Online Sports Betting
Sports betting is taking the United States by storm as the top sportsbooks are fighting for new customers with each state to legalize sports betting. What about if you want to bet on sports in Kentucky? Is it legal in the state? Here’s what you need to know about Kentucky online sports betting.
Is Sports Betting Legal in Kentucky?
Kentucky sports betting is recently legal thanks to the HB 551 Kentucky sports betting bill. It opened the door for legal Kentucky sports betting. Even though sports betting legislation has passed, there are still no legal options currently available for sports betting in KY. The new legislation states the state must launch within six months of June 28, 2023.
Latest Kentucky Sports Betting News
The HB 441 bill passed in the Kentucky Senate to open the door to sports gambling. It effectively legalized sports betting in the state. With the bill, the nine horse racing tracks could be given sports betting licenses with up to three online skins. Bettors will also likely be able to start sports wagering with Kentucky sportsbooks and betting apps.
No word on any restrictions with retail and online sports betting. These details will become available as Kentucky gets closer to the launch date. For now, bettors are happy the state was able to legalize sports betting in Kentucky and hope it can get off the ground quickly.
Potential Sports Betting Sites in Kentucky
If you are hoping your favorite online sportsbook comes to the state, there is a chance it could happen later in 2023 as KY sports betting kicks off. It’s not official what sportsbooks will be available for sports bettors in terms of online gambling.
As Kentucky lawmakers work out the details, here are some popular sportsbooks in other states that could be approved as legal Kentucky sports betting sites.
BetMGM is a popular sportsbook known for its range of solid features that include live betting and the ability to edit bets in your bet slip. It is a great option for bettors looking for great odds on professional sports, prop bets, and more. BetMGM also offers solid promotions to get started betting.
FanDuel is a well-regarded and trustworthy sportsbook. It is known for having great live betting options making it one of the industry’s best. It’s an excellent option for bettors searching for betting odds and the famous same-game parlay that FanDuel has put on the map.
PointsBet is a sportsbook that has managed to establish a strong reputation in legal gambling due to some of the unique betting options it offers. These include its famous “Points Betting”.
Moreover, the sportsbook provides attractive offers such as second chance bets for new sports bettors as it tries to compete with the best online sportsbook apps and websites.
DraftKings is a widely-used and reputable sports betting platform that offers a variety of features, including a rewards program that allows users to earn bonuses, odds boosts, offers, promotions, and more. Additionally, DraftKings provides users with solid odds that compare well with the rest of the legal sports betting industry.
Caesars is known for having a great VIP loyalty program. You can start earning money on your spread bets, moneylines, and more right off the bet. It’s one of the best legal sportsbooks out there as you can get promotions, offers, bonuses, and more as you bet.
With a user-friendly interface and competitive odds, Betfred Sportsbook provides an enjoyable betting experience for both casual and professional bettors. The platform offers various betting options, including live in-play betting, accumulator bets, and cash-out options.
With a sleek and user-friendly interface, Tipico Sportsbook provides an enjoyable betting experience for both new and experienced bettors. The platform offers competitive odds, a variety of betting options including live in-play betting, and a convenient cash-out feature.
BetRivers Sportsbook is a top choice for bettors looking for a reliable and convenient platform to place their bets. The BetRivers Sportsbook provides a seamless betting experience for both casual and professional bettors alike. The platform offers various betting options for users to get in on the action.
Popular Bet Types with Online Sportsbooks
There are no options available in Kentucky for legal sports online betting just yet, but that doesn’t mean bettors can’t learn more about the bet types. Here’s a look at some of the popular bet types on online sports betting sites. These are usually available with in-person and online sportsbooks.
A moneyline bet is a wager on which team will win the game straight up. You’re betting on the winner. Favorites are usually listed with negative odds while an underdog will have positive odds.
For example, you check betting odds and see the Cincinnati Bengals are -120 favorites vs the Bears. If the Bengals are victorious, it would take a $120 bet to win $100.
When you make a point spread bet, you’re betting on the margin of victory or defeat. Each team is given a point value to balance the odds. Point spreads allow you to bet on either team, even if one is heavily favored to win.
For example, you might see Kentucky Wildcats men’s basketball is a -11.5 point favorite vs Tennessee. To cover the spread, Kentucky needs to win by 12 points or more in the game.
Betting lines for point spreads usually come with odds around -110 on both sides. A $110 bet would win $100. Point spreads are one of the most popular bet types.
When you make a total bet, it’s also known as an over/under bet. You’re betting on the total number of points that both teams will score in the game. The sportsbook sets a line on how many points they think will be scored.
For example, the total for the Cincinnati Reds vs Chicago Cubs game is 7.5 runs. For an over bet to win, at least eight runs or more need to be scored in the game. Say the game ends 6-4. It would be an over because 10 total runs were scored.
A prop bet is a wager on a specific outcome within a game. Keep in mind, the outcome is not necessarily tied to the final result. Some people find these bets more enjoyable. Sportsbooks offer props on different outcomes for players, teams, and games.
There are a variety of outcomes such as how many points a player will score, how many rebounds a player will have, how many touchdowns a QB will throw for, and more. For example, Joe Burrow might have his over/under for passing yards set a 272.5. You are betting whether he will be over or under that mark in the game.
A futures bet is looking at an event or outcome down the road. Betting on which team will win the championship or what player will win the NBA MVP. These odds change throughout the year based on performance, injuries, and more. You can track futures of major sports teams and players on the top online sites throughout the year.
A parlay bet is when you combine multiple outcomes into one single bet slip. This gives you a boost in odds but comes with a catch. To win a parlay, all of the bets have to win. With each leg you add to the parlay, the probability of winning the bet goes down.
For example, you can select three NFL teams each to win on a Sunday in the fall. If any of the teams lose, your bet loses. If all the teams win, you receive your payout based on the odds.
Daily Fantasy Sports In Kentucky
The state of Kentucky allows Daily Fantasy Sports. Players can use some of the top DFS partners such as DraftKings, FanDuel, and others. It’s a nice alternative for sports fans who enjoy placing a bet on sports.
Horse Racing as Legal Sports Betting
It goes without saying, there is horse racing betting in the state of Kentucky. The Kentucky Derby is the nation’s most prestigious and famous horse race. It takes place at Churchill Downs and has run almost every year since 1875.
The Kentucky Horse Racing Commission regulates legal horse racing in the state. There are several prominent horse racing tracks in the state including Keeneland, Red Mile, Turfway Park, and Ellis Park.
Popular Teams for Kentucky Betting
Once sports betting is live, you can expect a heavy number of new sports bettors placing wagers on the University of Kentucky sports, especially basketball. Also, Louisville will be a popular college sports bet. There are other Division I universities such as Western Kentucky that could draw some interest for new Kentucky sports bettors.
There a no major professional sports teams in the state, but Kentucky is close to several professional teams such as the Cincinnati Bengals. Ohio is one of the states with legal sports betting that borders Kentucky.
And it goes without mentioning, one of the biggest events you will see for gamblers is betting on the Kentucky Derby each year. Horse betting will be huge in the state.
Once sports betting is legalized completely and live, Kentucky residents will have the chance to bet on a wide range of sports and events from all over the world. There are plenty of potential Kentucky online sportsbooks with a large number of betting markets. There should be lots of betting options in Kentucky.
Promotions for Legal Online Sports Betting in Kentucky
With the launch date still in the distant future, sports bettors can get familiar with the different types of promotions and offers from sportsbooks. The sports betting industry in Kentucky will have plenty of bonuses to get new Kentucky sports betting signups. Here are some common promotions you will see once sports betting is legal and live in the state.
One of the best bonuses is a bonus bet. Sportsbooks will dish out bonus bets to new users to entice them to register for the platform. Some bonus bets come without a qualifying deposit. All you need to do is sign up and a sportsbook will give you bonus bets up to a certain amount. Sometimes, the bonus bet needs to be wagered on a specific event.
Other bonus bets have what is called a qualifying bet or deposit. You have to either place a wager or deposit a certain amount of money to receive the bonus bets. For example, DraftKings has run offers in the past where you place a $5 wager and get $150 in bonus bets instantly.
Second Chance Bets or Bet Insurance
First bet insurance is also known as a no-sweat bet, second chance bet, or first bet offer. It provides a safety net for users who place their first bet. This promotion offers protection for the first bet up to a specific amount.
In the event of a loss, the sportsbook will credit the user’s account with bonus bets or bet credits equivalent to the initial wager. This perk is designed to encourage new users to explore the platform and bet without fear of losing their initial investment.
Refer a Friend
Refer a Friend is a common promotion offered by sportsbooks that rewards users for inviting their friends to join the platform. When a user refers a friend, they will receive a bonus or credit, often in the form of bet credits or bonus bets, once their friend signs up and meets certain criteria.
Refer a Friend promotions not only provide incentives for users to invite their friends but also expand the sportsbook’s customer base.
Deposit Match Bonus
When it comes to sports betting, the top sportsbook apps may offer enticing promotions like deposit matches or bonuses for new users. A deposit match is when a sportsbook matches a portion or all of your deposit with bonus funds to use for betting.
For instance, if a sportsbook offers a 25% deposit match up to $1000 and you deposit $1000, you’ll receive an additional $250 in bonus funds to use for your bets online. This promotion can provide bettors with extra funds to explore the platform and find the best betting fights, odds, events, and more.
However, it’s important to read the terms and conditions associated with deposit match promotions, such as wagering requirements or expiration dates, before accepting them.
Kentucky Online Sports Betting FAQs
Yes, but there are no options in terms of legal sportsbooks just yet. Legal gambling in Kentucky legislation passed stating sports betting must be launched within six months of June 28, 2023. That puts a launch date in late 2023 or early 2024.
Nothing is official but when sports betting launches in Kentucky, it’s likely the top sportsbooks such as BetMGM, DraftKings, FanDuel, and more will enter the new sports betting state.
Once the KY sports betting bill is official and sports betting is live, it looks like the sports betting age will be 18 years or older to place wagers with a legal sportsbook in the state.
Online betting sites in Kentucky aren’t currently live. Once they are live, bettors can bet on teams such as the Kentucky Wildcats and Louisville Cardinals. Professional sports teams from nearby states will also draw a lot of interest along with major horse races in Kentucky.
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