In the long-standing rivalry between the University of Louisville and the University of Kentucky, Louisville may have the better record, but according to bet365, bettors are backing the Wildcats.
Bet365 offered some insight into the first two weeks of online wagering in the Bluegrass State. The operator said a full 80% of wagers have been on football so far. The NFL has proven to be the most popular sport to wager on so far.
However, the second-most popular sport has been college football, with bets on UK edging out Louisville. With that being the case, this weekend was anticlimactic for bet365, as both teams were on a bye, as were the Cincinnati Bengals.
The MLB post-season ranked as the third-most popular category of sport to wager on, netting 11% of bets.
Surprisingly, soccer came in at fourth in the ranks with, of all teams, Manchester City, leading the betting action on the app. The sport netted 6% of bets.
MMA managed to pull in 1% of wagers, the only other sport to capture more than a percent of betting action.
Gov. Andy Beshear previously reported that the first four days of online wagering in Kentucky produced $68 million in wagers. That netted $4.5 million in revenue for sportsbooks, which is a strong start for a state that is projected to generate $23 million in tax revenue annually.
On Monday, Beshear’s office provided an updated estimate of handle so far in the state. According to Beshear, roughly $250 million has been wagered since launch, 93% of which have been done online.
“Kentucky is approaching $250 million wagered. That is a strong number that certainly reflects excitement for the opening of sports wagering,” said Beshear in a release. “It has taken many years to get here, but sports wagering is finally a reality in Kentucky. This is a win-win for Kentuckians, who can enjoy a quality entertainment experience and benefit from funds staying right here in our state to help us build a better Kentucky.”
The release did not offer insight on revenue or tax dollars for the state, just handle numbers.
