Two weeks is a small time frame to draw an accurate sample to make an informed judgment as to how successful sports betting will be. But Kentucky has raked in some impressive numbers. Start with the handle: $4.5 million in bets placed. Traffic is up at Turfway Park in Florence.
Demetrious Smith is one who finds it so much easier to bet.
“Oh, I love it! I usually went to Indiana a couple times a week,” Smith told WKRC. “It’s definitely closer.”
Much of the money in Kentucky will go towards the struggling pension program. The state and county employee pension is in the red by more than $24 billion.
Despite the pension shortfall, the regulatory agency has set aside 2.5 percent of the funds for problem gambling assistance.
“That’s a reaction to the problem,” Gary Schneider told WKRC. “That’s assuming you’ve got a compulsive gambler who’s addicted to it.”
Schneider is a national board member for the nonprofit Stop Predatory Gambling. He also aids young people struggling with gambling addiction.
“My whole life is dedicated right now to the youth and the problem gambling that’s going on,” he said.
Schneider hopes more will be done to educate young folks and learn to stay away.
“I’ve known many people that have been drug-addicted and when they cross over to the gambling, they say there’s no comparison,” he told WKRC.
In other news, mobile betting will go live in Kentucky on September 28.
Governor Andy Beshear estimates 60,000 mobile accounts have already been completed. Overall, the state anticipates it will realize $22 million a year from sports betting.
