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Beshear says sports wagering is off to strong start in Kentucky, with the pace about to pick up

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Beshear says sports wagering is off to strong start in Kentucky, with the pace about to pick up


FRANKFORT, Ky. (AP) — Sports betting in Kentucky is off to a strong start right out of the gate, attracting more than $4.5 million in wagering since launching two weeks ago, Gov. Andy Beshear said Thursday.

And the pace will pick up significantly in a week when mobile wagering launches, he said.

Sports wagering facilities opened across the Bluegrass State on Sept. 7 in the first phase of the rollout, made possible when the Legislature finished work on a bill to legalize, regulate and tax sports wagering in late March during the final hours of its annual session. Beshear quickly signed the measure into law.

Beshear placed the first sports bet at Churchill Downs, home of the Kentucky Derby, fulfilling a pledge that his administration would launch sports wagering in time for the NFL regular season. Opening day for sports betting came on the same day as the NFL’s first game of the season.

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Since the retail launch, preliminary figures show sports wagering has topped $4.5 million across Kentucky, Beshear said in an update during his regular news conference.

“This is a strong number that certainly reflects the excitement Kentuckians have for the opening of sports wagering,” the Democratic governor said. “With college football and the NFL season underway, plus the launch of mobile wagering, we expect that number will grow significantly.”

Beshear pushed to legalize sports betting throughout his term. The governor is seeking reelection this year, and his Republican challenger, Daniel Cameron, also touted what he sees as the benefits of sports wagering for Kentucky at a gubernatorial forum Wednesday night.

“I’m pleased that we have sports wagering here in the commonwealth,” Cameron said. “And I certainly think that it will have an economic benefit to our state. There’s no question about that.”

Starting Sept. 28, Kentuckians can begin placing sports wagers on their smartphones. In preparation for the mobile opening, people can create an account and deposit money into licensed mobile wagering applications. More than 60,000 mobile accounts are preregistered in the state, Beshear said.

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Kentucky lawmakers established a new excise tax on sports wagering: 9.75% on the adjusted gross revenues on wagers made at a licensed facility and 14.25% on wagers placed online or on a smartphone.

Once fully implemented, sports wagering is projected to generate about $23 million in yearly revenue for the state, although some supporters predict higher amounts. Most of the revenue will flow into Kentucky’s public pension system. It also will stop the siphoning of revenue to other states where Kentuckians previously placed sports bets, supporters said.

But critics of sports betting see it as an addictive form of gambling that will hurt Kentucky families. A small percentage of sports wagering tax revenue will flow into a fund to help combat problem gambling.





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Kentucky

Could Kentucky land the top 2025 basketball prospect?

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Could Kentucky land the top 2025 basketball prospect?


Now that Mark Pope has mostly finished putting together his 2024-25 roster, he will shift his focus to recruiting the 2025 class. What better place is there to start than with the number one overall player? 

Yesterday, Coach Pope offered AJ Dybantsa, who is the number one overall player in the 2025 class. Dybantsa was a member of the 2026 class but reclassified and will look to be a top-five pick in the 2026 NBA Draft. 

Coach Pope and many other top coaches were at the EYBL event in Indianapolis, where Dybantsa and many other top prospects were. It sounds like Dybantsa really does want to play at Kentucky so Pope will have a chance here. It sounds like Coach Calipari will try and get him to Fayetteville and Bruce Pearl is trying to pull him to Auburn but Coach Pope will make a run at the classes top prospect. 

If Coach Pope is going to succeed at Kentucky, he will need to have the perfect mix of veteran stars and one-and-done McDonald’s All-American type of player. If he is able to land Dybantsa, he can achieve that balance. 

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This is definitely a recruitment Kentucky fans need to keep an eye on.  

Here is On3’s scouting report on Dybantsa, “AJ Dybantsa is a lengthy and wiry 6-foot-7, maybe 6-foot-8 wing. He has a slippery and smooth handle in the open floor that allows him to attack the basket downhill. He is a bouncy athlete at the rim, finishing high above in transition. Dybantsa has a smooth jump shot and can create his own shots off the bounce. He has the length and upside to be very good when he is locked in on the defensive end. With a 2007 birthday, he has the foundation of all the tools; it will simply be about continuing to get stronger and developing the vast skill base. He is tracking as one of the top players in his class.”



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TARC to provide free rides for Kentucky’s primary election

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TARC to provide free rides for Kentucky’s primary election


Kentuckians will choose candidates for several federal, state and local races in the 2024 primary election. To help voters get to the polls Tuesday, the Ride to Vote initiative will allow passengers to ride all TARC routes and TARC3 paratransit services to any destination, including polling locations, at no cost.

“Helping our community get out to vote is another great tradition this agency offers, and exemplifies the value TARC provides to the public,” TARC’s Interim Executive Director Ozzy Gibson said in a news release. “We’re proud to help our fellow citizens exercise their right to vote.”

Jefferson County Clerk Bobbie Holsclaw, who also chairs the Board of Elections, said in the news release that Ride to Vote will ensure voters have access to transportation to polling locations.

“TARC’s initiatives play a crucial role in enabling eligible voters to exercise their fundamental American right to vote and have their voices heard,” Holsclaw said in the news release. “Safeguarding the integrity of our elections demands collective effort within our community, and TARC’s commitment to providing fare-free services significantly contributes to this endeavor.”

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In this year’s primary, the ballot includes races for U.S. Representative, Kentucky House and Senate, and Louisville Metro Council, among others.

“It’s really critical for voters to come out and take advantage of these primary elections and pick their nominees for the two parties,” said Kentucky Secretary of State Michael Adams, who cast his ballot during early voting last week.

Polling locations in Jefferson County will be open from 6 a.m. to 6 p.m. Tuesday. Voters can find where to vote online. They must provide proof of identification to vote.

For more information on primary candidates, check out the LPM’s 2024 Kentucky Primary Voter Guide.

Justin Hicks contributed to this reporting.

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Pump prices decline ahead of Memorial Day holiday; Kentucky average falls, but remains above 2023 – NKyTribune

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Pump prices decline ahead of Memorial Day holiday; Kentucky average falls, but remains above 2023 – NKyTribune


Like a slowly deflating party balloon, the national average for a gallon of gasoline continued its descent this week, falling four cents since last week to $3.59. The primary reasons are weak domestic demand and oil costs dipping below $80 a barrel.

“Barring some unforeseen event impacting oil prices, this slow descent in pump prices is not likely to change anytime soon,” said Andrew Gross, AAA spokesperson. “Although Kentucky isn’t one of them, there are seven states with county gas averages below $3 a gallon. This trend will likely accelerate as more gas outlets east of the Rockies drop their prices.”

(NKyTribune file)

According to new data from the Energy Information Administration (EIA), gas demand rose modestly from 8.79 million b/d to 8.87 last week. Meanwhile, total domestic gasoline stocks decreased slightly from 228 to 227.8 million barrels. Lackluster pre-Memorial Day demand and steady or falling oil prices could lower pump prices as travelers look ahead to Memorial Day holiday road trips.

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Today’s national average is $3.59, 7 cents less than a month ago but still 6 cents more than a year ago.

Today’s average in Kentucky dropped another penny overnight, now at $3.34. That’s 8 cents lower than one week ago, but still 8 cents higher on the month. Today’s average is still 5 cents higher than a year ago.

The average gas price in Lexington has seen an even more dramatic drop since last Friday. The average price for a gallon of regular fell 2 cents overnight to land at $3.40. Lexington’s current gas price average is 11 cents lower than the average just one week ago but still 20 cents higher than a month ago. Today’s price remains 8 cents higher than a year ago.

Going against the current trend, Ashland’s average gas price rose 9 cents overnight, currently $3.36. That’s still 3 cents less than the average a week ago. Ashland’s average price is trending about 16 cents lower than a month ago and 4 cents lower than a year ago.

Around the commonwealth, the lowest county-level average gas price can be found in Simpson County at $3.00. The highest countywide average price of gasoline in the commonwealth can be found in Pendleton County, averaging $3.59.

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Checking nearby, the average price for a gallon of regular today in Ohio is at $3.50, West Virginia $3.51, Virginia $3.41, Tennessee $3.17, Indiana $3.56, Illinois $3.89 and Missouri $3.21.

Across the nation, the high spot for gas prices is California, now averaging $5.22 for a gallon of regular. Hawaii follows at $4.80.

The low spot in the nation can be found in Mississippi, averaging $3.06 for a gallon of regular.

(Click for larger graphic)

Quick stats

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• Since last Friday, these 10 states have seen the largest weekly changes in their averages: Colorado (+16 cents), New Mexico (+12 cents), Tennessee (-9 cents), Kentucky (-8 cents), Utah (-8 cents), California (-8 cents), Indiana (-7 cents), Nevada (-7 cents) and Arizona (-6 cents).

• The nation’s top 11 least expensive markets are Mississippi ($3.06), Arkansas ($3.12), Oklahoma ($3.12), Louisiana ($3.14), Kansas ($3.15), Texas ($3.17), Tennessee ($3.17), Alabama ($3.20), Missouri ($3.21), South Carolina ($3.22) and Iowa ($3.22).

Oil Market Dynamics

At the close of Wednesday’s formal trading session, WTI increased by 61 cents to settle at $78.87 a barrel. Prices rose as the EIA reported that crude oil inventories had decreased by 2.5 million barrels from the previous week. At 457.0 million barrels, U.S. crude oil inventories are about 4% below the five-year average for this time of year.

AAA Blue Grass

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