Governor says Kentucky sports betting exceeding expectations

(PRESS RELEASE) -- Gov. Andy Beshear said just 10 months since he placed the state's first sports bet, sports wagering revenue is beating all predictions, and sports wagering continues to be an entertainment source Kentuckians enjoy.

Preliminary numbers indicate that over $37.2 million has been collected by the treasury from sports wagering taxes and licensing fees. Over $34.8 million goes directly to the Kentucky permanent pension fund. Additionally, over $930,000 goes to the problem gambling fund to educate Kentuckians on safe gambling practices, risk factors and services to reduce the consequences of problem gambling.

By supporting pensions, money is freed up in the General Fund, the Governor said, "that is money that can be used to help build a better Kentucky and that's a win-win for the whole state."

These numbers are self-reported by the licensees. Final numbers are reported by the new Kentucky Horse Racing and Gaming Corporation.