A bill to legalize selected sports gambling in Kentucky is now before the Kentucky House. The sports wagering bill easily emerged from committee Wednesday.
Bill Sponsor Adam Koenig believes the bill is gaining momentum. The measure is projected to generate between $20 million to $48 million annually. David Switzer, representing the Kentucky Thoroughbred Association and Keeneland doesn’t believe legalizing sports betting would pull dollars away from the horse racing industry. “The people that participate in sports betting, they may cross over to the horse racing or they may not. I don’t see the people that handicap and participate in horse racing, handicapping and playing the pari-mutuel wagers are necessarily going to switch and drop that go over to sports betting.”
Switzer says Kentuckians are already placing bets on sports through bookies or off shore operations. He says this measure regulates the practice.
Kent Ostrander with the conservative group - Family Foundation says increased access to gambling could lead to an increase in gambling addiction. “Everyone has been talking about how much money the state will get and how much money the gambling houses will get, but what they are not calculating is how much money is lost by families,” noted Ostrander.
The modified bill still includes a provision prohibiting gambling on Kentucky collegiate teams. Koenig says the bill could be called to the floor late this week or early next week.
