A sports betting bill passed in the Kentucky legislature during that last day of a 30-day session with the passing of House Bill 551. The bill legalizes, regulates, and taxes sports wagering. Kentucky has long had historical horse racing, but with the passing of HB551, the people of Kentucky will also be able to bet on mobile apps. Kentucky’s horse racing tracks will oversee the betting. The Kentucky Horse Racing Commission will regulate the sports wagering operations.
Tax revenue from sports betting will fund state employee pensions, but 2.5% of sports betting revenue received in the sports wagering administration fund will be set aside to address gambling disorders in the Kentucky Problem Gambling Assistance Fund. To date, there has been almost no funding for services for those who are affected by gambling disorder, except for a small allocation for a conference each year.
The Division of Behavioral Health is charged with oversight of the Problem Gambling Assistance Fund. The first $50,000 can be used for administrative expenses by the Division of Behavioral Health. The remaining funds are to be used exclusively for:
- Education, assistance, and counseling to people who have been negatively affected by addiction to alcohol or drugs, or gambling disorder.
- Promotion of education and awareness about addictions.
- Establishing programs to certify addiction counselors.
- Promoting awareness about addiction assistance programs.
- Paying for treatment for addictions.
The Cabinet for Health and Family Services will establish the regulations for the expenditure of the funds generated from sports betting in Kentucky.
Photo Credit: Daderot, CC0, via Wikimedia Commons