Kentucky Gov. Andy Beshear says that $656 million has been wagered on sports since its legalization in September. That translates to $8 million in tax revenue. 

Kentucky is in full swing, allowing in-person, and mobile sports betting, which was expected to bring millions of dollars into Kentucky's economy, and it did exactly that.

Kentucky Gov. Andy Beshear says that $656 million has been wagered on sports since its legalization in September. That translates to $8 million in tax revenue.

To put that into perspective, there are roughly 4.8 million people who live in the state.

With bets now able to be placed from anywhere in Kentucky on mobile devices, many fans have turned to sites such as BetMGM and FanDuel to chase a profit from their favorite sports teams.

Gov. Beshear believed sports betting would generate $23 million in the first year. That money is said to help support things like state pension programs, public education and disaster relief efforts.

"Remember, before we legalized sports betting, this money was going to other states or the betting was done illegally...Now thanks to our efforts, these dollars will stay right here in Kentucky" Gov. Beshear said.

Gov. Beshear says if this trend in wagering continues, tax revenue will easily exceed the $23 million expected in the first year.