Historical horse racing wagering once again has received the go ahead after Governor Beshear signed the wagering bill last week. A representative of Kentucky’s signature industry says the measure provides assurance for thousands who work in the equine business.
Senate Bill 120 defines pari-mutuel wagering to include the mechanized betting on previous horse races. Kentucky Thoroughbred Association CEO Chauncey Morris said the new law benefits 450 farms in central Kentucky and 60,000 workers tied to horse racing.
“With Senate Bill 120 signed into law, we are very optimistic about the future of our industry here in Kentucky,” explained Morris.
There are currently six historical horse facing facilities across Kentucky, all at tracks.
Mike Stone is director of the Kentucky Council on Problem Gambling. While saying HHR and other forms of legal gambling are a form or entertainment, he’s disappointed the new law didn’t set aside money to address addiction issues. “The Commonwealth, as a state, has been derelict to take care of a segment of its population that is, in fact, a detriment to the social well-being and the public health,” said Stone.
Stone said previous studies have shown 1% of Americans are addicted gamblers and 3% are problem gamblers. Meanwhile the Thoroughbred Association’s Chauncey Morris noted historical horse racing has played a major role in boosting horse racing purses. He added that while horse racing business has contracted in other states, it’s grown in Kentucky.
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