Legislation to reorganize operations of the Kentucky Horse Racing Commission to further sports wagering responsibilities continues to move forward. The House-approved measure sailed out of a Senate committee Tuesday. It creates a division of sports wagering, separate from parimutuel wagering, also known as "pool betting," with compliance over both. Kentucky Thoroughbred Association Director Chauncey Morris said legal gaming is getting far more valuable to the state’s general fund.
“The Racing Commission, which is already at the top of its game in regulating the live portion of our industry needs to be well versed in and be able to adequately, efficiently, regulate the other forms of gaming that the General Assembly has legalized, like sports wagering,” said Morris.
Horse Racing Commission Director Jamie Eads said compliance involves auditing the funds that would be flowing into the Commission. She said a division director would be constantly reviewing the statutes and regulations and comparing them to other jurisdictions to ensure proper adherence.
GOP Senator Damon Thayer said in the first couple of months of retail sports wagering, betting on the horses at the tracks increased by 4%.
“Sports betting has helped bring more people to the race tracks and when they are there also betting on team sports, stick and ball sports etc, they’re also betting more on horse racing. So, it’s a win, win,” said Thayer.
The NCAA basketball tournament will get underway in March. It’s traditionally known as a big draw for sports wagering. Asked if that creates more opportunity for betting problems, Thayer said no, adding, quote “We’ve already made it through the Super Bowl, which is the biggest sports betting day of the year and there were no problems.”
* WEKU is working hard to be a leading source for public service, and fact-based journalism. Monthly supporters are the top funding source for this growing nonprofit news organization. Please join others in your community who support WEKU by making your donation
