Bet365 has announced its intentions to step up its presence in the US. The brand has just gained approval to become an officially licensed sports betting provider in Kentucky. This follows on from slow and steady progress in other states and shows that the UK-based brand could have what it takes to crack the fledgling US sports betting market.
Bet365 will be one of just nine officially licensed sportsbooks to launch when legal sports betting comes to Kentucky next month. The brand was given the seal of approval by the Kentucky Horse Racing Commission earlier this week. As a result, Bet365 will partner up with Sandy’s Racing and Gaming to allow the UK betting brand to legally operate within the Bluegrass State.
Bet365 has already earned plenty of plaudits as a result of its same game parlays and its speedy live betting platform, and these could help the brand gain a foothold in the Kentucky sports betting market.
The partnered brand, Sandy’s Racing and Gaming isn’t actually due to open until fall, and it was only launched after a multi-million dollar development from the Eastern Band of Cherokee Indians and Revolutionary Racing Kentucky.
Interestingly, BetMGM has also partnered up with BetMGM and BetMGM will be hosting the retail sportsbook at the Sandy’s Racing and Gaming outlet in Ashland, Kentucky.
Bet365 has been present since the legalization of online sports betting in the US, but it has kept a relatively low profile so far. The brand has built up a decent profile in states such as New Jersey, Virginia and Colorado, and it appears to have learned from its early experiences.
This was seen when Bet365 made a successful introduction into Ohio at the start of legal sports betting in the Buckeye State. The brand is now one of the top-three online sportsbooks in Ohio.
Plus the UK-based brand has built upon its commitment to the US sports betting markets by making plans to develop its own headquarters within the nation.
Sports betting is due to go live in Kentucky on September 7 when sports fans will be able to legally place their bets in-person at one of the licensed physical sportsbooks. However, things will really get going when online sports betting goes live on September 28.
Bet365 will have to work extra hard to make a big splash in the Bluegrass State as several other major players have also gained that all-important licensing from the Kentucky Horse Racing Commission.
Market-leaders such as FanDuel and DraftKings are widely expected to dominate proceedings as they do in other states, while heavy-hitters like BetMGM and Caesars will also pick up plenty of sports betting fans.
Interestingly, some of the hottest new online sportsbooks such as Fanatics and the Penn Sports Interactive project have also gained licensing to operate in Kentucky, and it will be fascinating to see how these brands aim to shake things up. Elsewhere, sportsbooks such as Circa Sports and Kambi will be determined not to let Bet365 gain a hold of that all-important market share.
Kentucky sports betting law allows for each license to partner up with anywhere up to three online sports betting brands. Anyone who is older that 18 years and based within Kentucky state lines will be able to place their bets online via one of the legal sports betting apps.
Sports fans will shortly be able to bet on all of the pro leagues as well as college-level sports, although it won’t be possible to bet on high school sports. The good news is that there are no laws prohibiting the betting on in-state collegiate teams unlike in some other states.
As a result, there are expected to be many bets made on the exploits of the massive college basketball teams of University of Kentucky and University of Louisville. While there aren’t any major pro-level sports teams in the Bluegrass State, there are expected to be many bets made on teams in neighboring states such as the Indianapolis Colts, Tennessee Titans and Cincinnati Bengals.
Bet365’s entry into the Kentucky sports betting scene comes at a pivotal time for the brand. While the UK-based betting company has kept things relatively slow until now, the arrival of Bet365 into this new market could take things to the next level.
Much will depend on how Bet365 adapts its promotions and offers for the arrival of the new NFL season where KY betting fans will be keen to test out the new sportsbooks. One thing is for sure and this is that it’s a great time to enjoy sports betting in Kentucky.
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