Gov. Beshear: Over $656 million wagered on sports betting since its inception

Kentucky Governor Andy Beshear reported that since the launch of sports betting in September, over $656 million has been wagered in the state, averaging about $65.2 million weekly. In-person betting started first, but mobile apps are now dominating, with almost $27 million bet in person and over $629 million on apps.

Beshear highlighted that legalized sports betting is keeping money in Kentucky, contributing to about $8 million in taxes, exceeding the projected $23 million in revenue if the trend continues.

 

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It's quite remarkable to see the significant amount of money that has been wagered on sports betting in Kentucky since its launch in September. The figure of over $656 million in bets showcases the rapid growth and popularity of this form of gambling in the state.

The weekly average of $65.2 million in wagers is quite impressive and demonstrates the consistent interest and engagement of Kentucky residents in sports betting. This steady flow of activity indicates that sports betting has found a firm footing within the state and has the potential to continue gaining momentum.

It's interesting to note that while in-person betting was initially the primary method, mobile apps have quickly overtaken it in terms of wagered amounts. With nearly $27 million bet in person and over $629 million on mobile apps, it's evident that the convenience and accessibility of online platforms have struck a chord with bettors in Kentucky.

Governor Beshear's emphasis on the financial benefits of legalized sports betting is also noteworthy. The $8 million in tax revenue generated thus far is definitely a positive outcome, and surpassing the projected $23 million in revenue is even more impressive. This showcases the potential for sports betting to contribute significantly to the state's economy, helping to keep money within Kentucky rather than seeing it flow to neighboring states where sports betting may not be legalized.

Overall, the success and popularity of sports betting in Kentucky demonstrate the immense potential of this industry to boost the economy and keep residents engaged in regulated gambling activities. It will be interesting to see how this trend continues to unfold in the coming months and years.