After an early projected revenue of $23 million, Kentucky cashed out just over $37 million in taxes and licensing fees from the state’s first nine months of legal sports betting.

“It far exceeded what any of us thought it would do,” said Jamie Eads, president and CEO of the Kentucky Horse Racing and Gaming Corporation (KHRGC). Eads testified during Wednesday morning’s Budget Review Subcommittee on Economic Development, Tourism, and Environment Protection meeting.

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Nearly $2.1 billion was wagered in Kentucky from Sept. 7, 2023, to June 30, 2024, according to Eads’ testimony.

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