Worth $500,000,000 Already Apex Commission Makes the Kentucky Derby Even Bigger

The state of Kentucky legalized sports betting this year after passing the bill into law on 31st March. This paved the way for betting in every sport and so in equestrian sports. Considered the Horse Capital of the world, the state has many renowned horse racing tracks like Churchill Downs, and Turfway Park, and is home to the prestigious Kentucky Derby.

Recently, the Kentucky Horse Racing Commission has approved emergency administrative regulations for the conduct of betting in horse racing.  This paved the way for the horse racing commission to make the Derby an even bigger event.

Sports Betting in Kentucky Equestrian Industry

The emergency regulation for the conduct of sports betting in horse racing has been signed. These regulations were formulated after consultation with the neighboring states where betting was legal and with industry experts.

The horse racing commissioner Jonathan Rabinowitz said that there is huge potential in sports wagering and the state will benefit from it. He further said that the commission will work to get the racing facilities licensed and ready to take sports wagers. The commission has increased its staff and laid regulations to protect and ensure the system is regulated efficiently.

This provides the racing commission whose present worth is about five hundred million dollars a chance to grow the Kentucky Derby exponentially. The aim is to attract people towards a new entertainment facility, which will boost the local equestrian industry and create jobs for many. According to an estimate, this betting facility will generate about 23 million dollars this year.

Kentucky Horse Racing Commission’s Newest Project

The Kentucky horse racing commission is an independent agency tasked with regulating the conduct of horse racing and wagering by the state legislative. The retail location will open on the 7th of September and the mobile betting facility will be operational from the 28th of September. According to the Kentucky horse racing commission chairman initially, they will start with nine locations and later on will expand to listed fourteen locations.

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This development is a major boost to the Kentucky equestrian industry with the potential of attracting betters from all over the country and increasing its value.

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