Document Type
Article
Publication Date
3-2024
Department
Equine Industry
Abstract
With sports gambling coming to the Commonwealth of Kentucky in September 2023, another competitor to various gaming activities in the state raises the question of how it is doing relative to the others, especially its major competition. As can be seen in the table below, for its first four months of operation, sports gambling in the state brings in almost $900 million and averages around $223 million per month. This average is better than typical monthly lottery sales which come in at around $161 million per month and is far above on and off-track (including simulcasting) racing betting which averages only between $8 and $9 million monthly. But what is most interesting is the size of historical horse racing (HHR) gaming revenues. It is far and above the leader when it comes to gambling revenues in the state and averages from August 2022 to December 2023 around $716 million per month.
ThinkIR Citation
Lambert, Thomas E., "Historical Horse Racing Dominates Gambling Expenditures in Kentucky—Even Outperforms the Lottery. But Why?" (2024). Faculty Scholarship. 946.
https://ir.library.louisville.edu/faculty/946
ORCID
0000-0003-2453-1407
Comments
This is the pre-print version of an article to be published at a later date. This information will be updated upon publication.