Researcher Chris Grove, with the consultant group Eilers & Krejcik, has predicted that sports betting in Kentucky could go live as early as 2021, according to insiderlouisville.com. A pair of Kentucky legislators have pre-filed sports betting bills, and a bipartisan, bicameral task force is examining the issues of oversight and additional tax revenue.
“The important thing to remember is that much of this activity is already occurring, just in an unregulated fashion,” said Grove. “Overall, there's little debate on the point that sports betting will overwhelmingly generate new revenue as opposed to cannibalizing existing regulated gambling revenue.”
One major concern that has been voiced is the potential for increased gambling addiction, though it is unclear exactly what impact the legalization of sports betting would have on the overall number of addicts. Advocates who help gambling addicts would like a percentage of the additional tax revenue to be earmarked toward expanded counseling services.
Read more at insiderlouisville.com.
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