High-limit differential
The Kentucky Horse Racing and Gaming Corporation (KHRGC) has approved an online sports betting license application from high-limit sportsbook Prime Sports.
first sportsbook to partner with Churchill Downs
At a Tuesday meeting, the KHRGC unanimously approved Prime’s license making it the first sportsbook to partner with Churchill Downs.
Adam Bjorn, Chief Operating Officer of the Plannatech platform that powers Prime, stated that the sportsbook wants its Kentucky launch to coincide with a big event like March Madness, but wants to go live before the 2025 Kentucky Derby.
Prime states other sportsbooks “operate in fear of winning and accommodating high-limit players” but that it gives bettors “the markets, the limits, and the service they prefer.”
“It’s just simple, basic, old-school bookmaking,” Bjorn has previously stated.
New brand on the block
According to Covers, the Cherry Hill, New Jersey-based Prime caters to all players “but especially welcomes professional and sharp bettors with a promise to not limit winners.”
On Tuesday, Prime took to X in a strategic response to a post from a bettor complaining of being limited or banned from betting over $200 via sportsbooks including DraftKings and FanDuel:
Circa Sports Director of Operations Jeffrey Benson responded to the bettor’s post back in November, stating his brand “will never cut you off.”
Circa operates in the same high-limit betting territory as Prime, and while generating $10.8m in wagers between May and October, it also posted a near $1.9m adjusted revenue loss.
Prime Executive Chair Joe Brennan Jr stated it will “be interesting to see how we fare alongside Circa in Kentucky.”
Recently, a Kentucky bettor placed $3.1m in wagers via Circa Sports on the Philadelphia Eagles moneyline against the Carolina Panthers. The Eagles beat the Panthers and netted the bettor over $442,000.
On its way
Brennan added that while the Kentucky license has been a long time coming, the brand’s imminent launch in the state provides “some really great options for players.”
“One thing we know is that there’s a group of sharp bettors in the state that like to bet at serious stakes, and we think Prime can fit in well serving that part of the market,” Brennan said.
Prime is already operational in New Jersey and Ohio.