Andy Beshear | Horse Racing Free Tips

KTBIF Awards Over $16 Million to Kentucky Breeders for 2023

Edited Press Release

Awards are on the way to Kentucky's Thoroughbred breeders participating in the commonwealth's Thoroughbred Breeders' Incentive Fund (KTBIF) program. The Kentucky Horse Racing Commission (KHRC) announces the release of $16.2 million through the KTBIF.

“Our horse farm families are the backbone of our racing industry, and I'm proud to support the Incentive Fund that keeps mares and foals in Kentucky,” said Gov. Andy Beshear.

According to the Kentucky Thoroughbred Association, the Kentucky Equine industry generates $6.5 billion and supports more than 60,000 jobs.

In fact, 2023 was a good year for business. Highlights include:

Kentucky-bred horses won 63% of all graded stakes races in the U.S.
Kentucky-bred horses won 298 graded stakes races with 68 of them held at one of Kentucky's five Thoroughbred racetracks.
Kentucky-bred horses have won the last nine Kentucky Derbies and last seven Kentucky Oaks.
Kentucky-bred horses took home the hardware in all three legs of the Triple Crown: Mage (Good Magic) won the Kentucky Derby; National Treasure (Quality Road) won the Preakness and Arcangelo (Arrogate) won the Belmont S.
Pretty Mischievous (Into Mischief) won the Kentucky Oaks.
Kentucky-bred Cody's Wish (Curlin) won the 2023 Horse of the Year Eclipse Award Winner.
Mage and Pretty Mischievous both will receive a $50,000 KTBIF bonus.

The KTBIF was implemented in 2005 to ensure the strength of Kentucky's equine industry by awarding funds to individuals who choose to breed a Thoroughbred mare in Kentucky. To qualify, the mare must be bred to a Kentucky registered stallion, remain in the state during her full gestation and foal in Kentucky. Final award amounts are then based on the foal's eventual earnings at the racetrack.

The KTBIF is funded through a percentage of the sales tax paid when a stallion is bred to a mare in Kentucky. Since the fund's inception, more than $234 million has been distributed to Kentucky breeders for winning eligible races worldwide.

A list of the 2023 award winners, along with the amount awarded and other interesting statistics, can be found on the KHRC website by clicking here.

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Churchill Downs Race And Sports Book Opens Thursday

Kentucky Governor Andy Beshear will place the state's first ceremonial sports wager Thursday during the grand opening ceremony of the Churchill Downs Race & Sports Book. The ceremony begins at 9:45 a.m. and the governor will place his wager at 10 a.m.

Other dignitaries expected to be in attendance include Louisville Mayor Craig Greenberg and the First Lady of Louisville Rachel Greenberg; Ray A. Perry, Secretary, Kentucky Public Protection Cabinet; Jonathan Rabinowitz, Chairman, Kentucky Horse Racing Commission; Representative Al Gentry; and Cleo Battle, President & CEO of Louisville Tourism.

Area sports celebrities Darrell Griffith, Bobby Perry, Dale Romans, Will Wolford and Eric Wood are expected to be on hand as well.

The Churchill Downs Race & Sports Book is located in the remodeled Aristides Lounge on the second floor of the track's Clubhouse. The 8,755 sq. ft. space showcases a massive TV wall, including a new 7′ x 24′ LED video screen and a dozen 90″ televisions. The large area has an additional 16 large-format TVs for sports and horse racing, 15 sports betting kiosks, seven horse betting kiosks, six betting windows with tellers, a bar and seating for more than 280 guests.

The Churchill Downs Race & Sports Book will be open to the general public Thursday at 11 a.m. and betting will continue until 11:30 p.m. Guests must be at least 18 years old to wager and enter the Churchill Downs Race & Sports Book.

Online sports betting in Kentucky will begin Sept. 28. Churchill Downs Incorporated has partnered with FanDuel, Penn Sports Interactive and Fanatics as its three online sports wagering service providers.

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Sports Betting Three Weeks Away in Kentucky

With the opening day of sports betting just three weeks away, Kentucky Gov. Andy Beshear has provided a timeline of key dates, including that betting will officially start at 10 a.m. EDT on Thursday, Sept. 7, for in-person bets at licensed retail facilities.

A list of approved retail facilities and mobile applications will be released Aug. 22, following the Kentucky Horse Racing Commission (KHRC) meeting.

“The countdown is on. We are just three weeks away from sports wagering in Kentucky,” said Gov. Beshear. “We are ready to deliver the quality entertainment experience Kentuckians asked for, while bringing money to the state to support pensions and free up funds that can be used to build a better Kentucky.”

Sports Betting Timeline:

Tuesday, Aug. 22, at 1:30 p.m. EDT: KHRC will meet to vote on license applications. This vote will determine which retail facilities and mobile applications will be approved for use in Kentucky.

Monday, Aug. 28, at 6 a.m. EDT: Kentuckians can pre-register an account with approved mobile applications. Allowing pre-registration eases strains on electronic systems that can sometimes happen when many people try to register at once.

Thursday, Sept. 7, at 10 a.m. EDT: Wagerers can place an in-person bet at licensed retail facilities.

Thursday, Sept. 7, at 6 a.m. EDT: Wagerers can only deposit money into their pre-registered account with approved mobile applications.

Thursday, Sept. 28, at 6 a.m. EDT: Approved mobile applications can start taking wagers.
Kentucky chose a tiered implementation, which has been used in multiple states and which allows for testing of policies and procedures before the full rollout that includes mobile applications.

“The KHRC is excited to open sports wagering and is working efficiently to meet the necessary deadlines. This is a careful process dedicated to wagering integrity and protecting bettors in the state of Kentucky,” said Kentucky Horse Racing Commission Chairman Jonathan Rabinowitz.

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Caesars Partners with Keeneland, Red Mile Ahead of Sports Betting’s Launch in Kentucky

Caesars Entertainment, Inc. on Tuesday announced agreements with Keeneland and Red Mile Gaming & Racing in Lexington granting them operator market access to offer legalized mobile sports wagering in Kentucky. The announcement comes six weeks after Kentucky Governor Andy Beshear signed Bill 551 legalizing sports wagering in the state into law on Mar. 31.

Caesars also announced plans to open Central Kentucky's only brick-and-mortar retail sportsbook locations, subject to regulatory approvals from the Kentucky Horse Racing Commission.

“Keeneland and Red Mile are iconic horse racing venues with an important legacy in the state of Kentucky,” Eric Hession, President of Caesars Digital, said. “Customers in the region have long enjoyed our world-class Caesars destinations and, most recently, our horse racing wagering app, Caesars Racebook. Working with these historic institutions provides an unmatched opportunity to reach sports and racing fans in the state, and we look forward to working with the Kentucky Horse Racing Commission as we prepare to launch later this year.”

Keeneland President and CEO Shannon Arvin said, “Keeneland's venture with Caesars Sportsbook holds exciting potential and furthers our mission to introduce new audiences to horse racing. Caesars is a globally respected brand, and we value their commitment to racing and their expertise in sports wagering.”

Red Mile Chief Operating Officer Shannon Cobb commented, “At Red Mile Gaming & Racing we are excited to continue introducing this historic harness track to new audiences. Opportunities with sports wagering on site, added to live racing, simulcasting, and HHR Games accomplish goals we have worked toward for several years. Our relationships with Keeneland and Caesars in this venture could not be more valued.”

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