On Thursday, Gov. Andy Beshar positioned a three-way parlay to kick off authorized sports activities betting in Kentucky, as retail sportsbooks opened their doorways throughout the Bluegrass State.
Kentucky Gov. Andy Beshear delivers remarks at Churchill Downs previous to putting the primary authorized sports activities wager within the state on Sept. 7. The governor has made authorized sports activities betting a key plank in his reelection marketing campaign.
Beshar’s wager carried a whiff of home-state politicking, with Election Day simply two months away. The Democratic incumbent has made legalization of sports activities wagering a central plank in his pitch to voters.
The governor wager $20 on the parlay, wagering that the colleges of Louisville and Kentucky would each hit the over on wins for the soccer season, and that their perennial rival, Duke, would hit the beneath.
“At present is a good day to rejoice and have just a little little bit of enjoyable doing so,” Beshear stated in an announcement. “It has taken a few years to get right here, however sports activities wagering is lastly a actuality in Kentucky. It is a win-win for Kentuckians, who can get pleasure from a high quality leisure expertise and profit from funds staying proper right here in our state to assist us construct a greater Kentucky.”
Beshar positioned his first wager Thursday morning at Churchill Downs in Louisville, and later within the afternoon positioned one other wager on the Pink Mile in Lexington.
The governor signed the brand new bipartisan sports activities betting legislation in March, and put its implementation on a quick observe with a purpose to permit bets to be positioned in time for the beginning of the NFL season. Whereas in-person wagering started Thursday at horse tracks and off-site facilities around Kentucky, cellular sportsbooks won’t start taking bets till Sept. 28.
Election Season
The governor has frequently touted his support for the sports activities betting legislation, and lists it amongst his high accomplishments, alongside issues like legalizing medical marijuana, investing in clear consuming water, and increasing broadband entry.
Beshar’s opponent on this 12 months’s election is Republican Legal professional Common Daniel Cameron, whose marketing campaign has closely centered on conservative tradition warfare assaults. Throughout a GOP primary debate in March, earlier than the brand new legislation handed, Cameron stated he “didn’t suppose a lot” of sports activities betting, however would assist legalization with the right regulatory framework.
A Cameron spokesman tried to downplay Beshar’s position in sports activities betting. “The legislature deserves the credit score for shifting this ball down the sector. Beshear as soon as once more is making an attempt to take credit score for this victory when all he did was cheer from the sidelines,” Sean Southard, a Cameron marketing campaign spokesman, stated in a statement to the Related Press.
Beshar stated he labored intently with the Kentucky legislature. “All of them know the reality,” Beshear stated of the criticism, in keeping with the AP. “It’s simply an election season. However why don’t all of us simply be comfortable at this time. Sports activities betting is authorized in Kentucky. Let’s not play politics with it.”
Whether or not the appearance of sports activities betting helps Beshar in November stays to be seen. However the jockeying over how a lot credit score the governor deserves suggests each events see the difficulty as a winner.
Within the political betting markets, Beshar has a transparent leg up. Shares in a Democratic victory in Kentucky have been buying and selling for 72 cents on PredictIt.
Financial Affect
Kentucky’s new legislation is estimated to boost at the very least $23 million per 12 months, the majority of which is able to go towards public pensions. A newly created downside playing fund will obtain 2.5% of the proceeds.
In-person wagers, like these being positioned on Thursday, shall be taxed at a charge of 9.75%, whereas cellular sportsbooks shall be taxed at a 14.25% charge later this month after they begin working.
