The first anniversary of legal, regulated sports betting in Kentucky was recently celebrated in the state, and numbers recently released by the Kentucky Horse Racing Commission, which oversees sports wagering in the Commonwealth, suggests sports betting has been a success.
Over the last year mobile sports betting produced a handle of $2.39 billion to go with a modest $87 million more bet in-person at retail sites. Operators enjoyed $272 million in adjusted gross revenue from those bets, which led to the collection of $38.5 million in tax dollars for the state.
Kentucky sportsbooks maintained a strong “hold” percentage, which basically is a measure of gross profits, of 9.28%, with mobile wagering alone producing a double-digit hold number.
