For the first time, a state fund is being established to address issues related to problem gambling. It comes as the Commonwealth is about to implement a new form of gambling.
Although not in the original bill, the sports wagering legislation eventually included language to set aside 2.5% of gaming revenues to support the problem gambling fund. It’s expected to generate half a million dollars over time.
Mike Stone is the executive director of the Kentucky Council on Problem Gambling. Stone said the governor’s signing of an executive order administering the new account won’t change the timeline for assistance. He said betting must take place first.
“To develop regulations and for money to work its way through the system, I don’t see how it can be speeded up,” said Stone.
Under the law, the first legal sports wagering at a brick-and-mortar facility is scheduled for September seventh.
Stone said the number of counselors for treatment will need to increase.
“If the example in other states is followed, the answer is yes. There will be more counselors because there will be a demand for them,” said Stone.
Stone noted it will take a while to generate the half million dollars projected in the problem gambling fund. He added funds can go for educational awareness as well as counseling services. Kentucky’s sports wagering law allows anyone 18 and over to participate. Stone said many other states set that eligibility at 21. He said the decision to use the age of 18 falls in line with what’s included in lottery and horse racing gambling in Kentucky. Previous studies have shown compulsive gamblers comprise about 1% of the state’s population with problem gamblers comprising about 3%.
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