Even though legal sportsbooks appeared close to coming to the Bluegrass State when the House passed a bill, it seems like 2023 is when this operation may take off.
Even with the delay, some lawmakers aren’t worried and believe KY will have legal sports betting, eventually.
Those that agree, like KY State Rep. Adam Koenig, know many residents want sportsbooks and currently fulfill their betting needs in nearby states.
Kentucky sports betting at Churchill Downs
The launch of Kentucky sports betting took a surprising hit when the state Senate chose not to vote for the bill in April. This is despite the Kentucky Derby, which proved itself again that it’s one of the top retail establishments in the country with legal betting.
With around 150,000 fans in attendance, the atmosphere is more electric than on race days at a lot of other tracks. This year, everyone received a massive treat in watching one of the most exciting derby races in recent years.
Not only was it satisfying to watch such a fast, competitive race, but one of the biggest underdogs ever took home the crown. Rich Strike went off at 80-1 and stole the first leg of the Triple Crown.
Now consider what Churchill Downs could be with adding KY sports betting to the mix. Lots of bettors will likely find themselves at the famous track more often to put some action down on a variety of events.
Soon enough, that will become a reality for those in KY. Representative Koenig views this recent letdown as just a pushback of a launch date. He said:
“All we did was postpone the inevitable. Everyone knows it’s going on. Everyone knows that. We’re surrounded by it.”
Since a good portion of the US is already in the legal sportsbook industry, it seems like just a matter of time for those locations that aren’t yet.
Kentucky missing out on sportsbook revenue
Just because the state doesn’t provide a legal sports betting option doesn’t mean interested residents don’t gamble. There are still lots of illegal offshore platforms out there, in addition to all of the legal jurisdictions surrounding KY.
All of its neighboring states showcase online sports betting right now. Places include:
- Illinois
- Indiana
- Tennessee
- Virginia
- West Virginia
This means that it’s easier for those living in KY to find a legal area around them to bet in than just about any other state in this situation. That news should alert politicians, as there’s no question that the state is losing funds.
According to estimates, KY is looking at around $25 million in sports betting revenue every year once established. That’s a decent chunk of money that can be utilized to help create a difference for those in the state who need it.
While Rep. Koenig doesn’t see a lot stopping sports betting from going live in KY at some point, there’s concern from others. The biggest issue mentioned is problem gambling and how introducing a market with legal KY online sports betting apps affects individuals.
David Walls, the Executive Director of the nonprofit organization, The Family Foundation, is completely against it. Walls said:
“This type of predatory gambling is designed to prey on human weakness with the government colluding.”
There will always be some people against the expansion of gambling in Kentucky, however, lots of other states face this exact dilemma. Many of them implemented or enhanced programs that assist gamblers struggling with addiction.
Just about every operator includes their ways to limit bettors who know they suffer from problems with control. There’s also the ability to self–exclude, where gamblers formally submit their name onto a list that prevents them from gambling online or in-person for a year or longer.
If KY follows the blueprint provided by other successful markets in the US, then it shouldn’t have too many complications.
Update: March 2023 witnessed a watershed moment in Kentucky’s sports landscape as the state embraced the legalization of sports betting. Discover all the enticing Kentucky sportsbook promos and offers that await state bettors post-launch by following the provided link.
