Kentucky Hits $3 Billion in Yearly Sports Betting Revenue

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00:00Kentucky, three billion dollars in their first year, including some very eye-opening retail

00:08numbers and that for people who are unfamiliar, that means in-person, people showing up to

00:12bet in-person, Jim, gives hope for other states that, you know, maybe are just like dabbling

00:18with the idea of maybe having an online and retail market, this should give them some

00:22hope.

00:23Yeah, and certainly some pretty decent numbers coming out of Kentucky that we saw through

00:29their first, you know, we'll call it their first full year of sports betting, 147 million

00:36dollars bet in August, that brought them just shy of three billion dollars for those first

00:4112 months.

00:42Now the retail, the in-person sports betting, which launched last year on September 7th,

00:48the same day that the NFL season kicked off, Churchill Downs in Louisville, obviously big

00:53population center in the state.

00:55They were the most popular retail sportsbook with just over 35 million dollars in wagers.

01:02And what was interesting about that, to me at least, was that they shut that sportsbook

01:07down for a handful of weeks around the Kentucky Derby so they could, you know, bring in some

01:12additional paid seating options to the Derby weekend events.

01:18So I'm pretty sure that that sportsbook was closed for at least two weeks, if not more,

01:25during that first 12 months.

01:28So 35 million dollars, a little bit more than 35 million dollars in bets for Churchill Downs

01:34as the most popular retail sportsbook in Kentucky during those 12 months.

01:38And then on the online side, DraftKings, they led the online market with nearly 900 million

01:43dollars in bets.

01:44And as you recall, Craig, the online market in Kentucky didn't open until September 28th

01:50last year.

01:52So really 11 full months for the online side, 11 months plus, we'll call it.

02:00So we'll see what this first month of September brings with the NFL betting for them, that

02:07first full month of NFL betting on the online side in Kentucky.

02:10We'll see that in the next couple of weeks.

02:12But yeah, overall pretty positive, close to three billion dollars in bets for that Kentucky

02:16market for their first 11, 12 months there.

02:21And that's it for now.

02:22Thanks for watching.

02:23We'll see you next time.