On Sept. 28th, 2023, online sports betting applications and websites went live in Kentucky. Gambling in the state has long been sequestered to the realm of horse-racing, due in part to the Kentucky Derby and other prevalent horse-racing events. The state’s gambling and the racing industries are adjacent, as seen in the logo of the Kentucky Lottery, which features a horse itself.
The reason gambling in Kentucky has been sectioned off to betting on horse-racing is because it relies on parimutuel betting, in which the odds of winning are clearly displayed and calculated based on bets of other players in the betting pool. In layman’s terms: you see your chances of winning right in front of you.
“Horse race bettings they call it parimutuel betting, where you’re basically betting against each other as opposed to playing against the house.” Nathan Prather, developer of Horseplayers Toolkit said. He describes his application as an algorithmic picks location, where “people can use that when they go to the racetrack or, for example, the Kentucky Derby.”
Betting picks provide bettors with an idea of which team, horse, or player is likely to win a game or championship. These picks are often based on statistical analysis of historical performance, current form, and team dynamics.
The legalization of online sports betting as well as in-person sportsbooks in Kentucky opens the door to betting on all forms of sports: NFL, NBA, UHC, NCAA college sports and more. Most sportsbook sites also allow users to bet on nearly every aspect of a game that can’t be foretold – whether Lebron James’ scores over 36 points or under five 3-pointers or if Joe Burrow’s longest pass in the game will be over 55 yards. This sort of guessing game can be exhilarating: hoping your favorite player will play a great game is something all sports fans do, however betting money on that can be a different story.
Gambling can develop into a problem or addiction if it isn’t done responsibly, and can lead to financial instability, strained relationships, and risk of further addiction. Some gamblers feel the need to win the big prize, recoup their losses, or end their session on a win. Developing a gambling problem can disrupt a person’s daily life, and the lives of the people around them too. The Kentucky Council on Problem Gambling (KYCPG) aims to help those negatively affected by their gambling problems.
KYCPG Executive Director Mike Stone, says that their organization “[…] raises awareness that gambling can be an addictive behavior and there are ways to get help to deal with it.”
“The number one program that we offer is the sponsorship of the 1-800-GAMBLER helpline, toll free available anytime for people that need it or have a question about whether or not they have a gambling problem,” Stone said.
The KYCPG helps those in need with a helpline that aims to provide resources for those seeking help for a gambling problem. Help is available 24/7 and is 100% confidential. The legalization of sports-betting here in Kentucky however has created an increased need for those seeking help with problem gambling.
Stone claims that “[KYCPG] are already seeing the number of calls to the 1-800-GAMBLER helpline that were provided a referral to a counselor or gamblers anonymous, or some material doubled – we saw that in the first month of sports betting being active.”
This rise in callers seeking and receiving help demonstrates the effectiveness of the helpline in reaching the people of Kentucky who need help. It also illustrates a worrying rise in people who think they may have a gambling problem, especially in light of the flood-gates being open to online sports betting.
“Sports betting has only been legal for a few months, but how many people went to visit bookies two years ago when it was illegal? It’s always been here. It’s just now it’s out in the open and the government regulates it and taxes it,” Stone said.“I think it’s good that it’s legalized and it can be regulated and monitored,” Prather said.
Within the first 2 months of the legalization of online sports betting, the Commonwealth pulled over $8 million in taxes, and predicted over $23 million a year once it’s all fully implemented. This highlights the popularity and extreme usage of online sports betting applications, as well as the potential future benefits for Kentucky. These taxes will be used to fund resources for problem gambling, education programs, the oversight of regulations, and aid Kentucky’s pension fund.
“Anybody can develop a gambling problem or addiction,” Stone said.
If you think you may have a gambling problem, please call 1-800-GAMBLER. The Kentucky Council on Problem Gambling is completely gambling neutral. You can also visit their website at kygamblinghelp.org.
