Kentuckians might get another shot at sports betting if a lawmaker gets his way, and I hope he does.
Republican Rep. Adam Koenig, who serves District 69 which includes parts of Boone and Kenton counties, introduced a bill on Monday that would make it legal for Kentuckians to “do what they would like to do with their own money.” , according to a quote from Koenig by the Associated Press.
Personally, I’m ready for sports betting to come to Kentucky. Our state offers many other forms of gambling, including betting on horse races and the lottery. We even have games on and near some of our horse racing tracks that are on slot machines that are said to be based on past horse races. Yet somehow we are a state that refuses to allow sports betting when many around us have legalized it.
If a person wants to bet on a sporting event, personally I don’t see the harm. As a sports fan, I confess that I bet on sports from time to time, and for me it is a form of entertainment, just like going to the cinema or any other activity in which I may choose to spend my money. I’m in control and I know what I can afford to spend, and I don’t exceed that amount.
My son and I are sports fans and occasionally attend NBA games in Indianapolis. As soon as you cross the river from Louisville to Indiana, you’re in legal sports betting territory, and that’s when we place our bets through Barstool Sportsbook, one of many popular online portals for sport bets. For us, it’s just a way to add fun to the game we’re watching. Not only can you bet on which team will win or how many points they will win, you can also place proposition bets, also known as proposition bets. Instead of picking the winner of the game, you can bet on things like which player will score the first points in the game, whether a particular player will score a certain number of points in the game, whether the first basket scored will be a 3 pointer , And much more. It adds to the entertainment value, and sometimes you make a few bucks in the process.
When you use the online betting system, we simply place money in our online account with Barstool and then place our bets. Bets must be placed and cashed out in a state where it is legal, so we always make sure to cash out our winnings before returning across the state line to Kentucky.
If you don’t want to bet on your mobile device, you can visit casinos like Caesar’s Casino in New Albany, Indiana. It’s only a few minutes across the river from Louisville, and it also has a sportsbook where you can place bets on sporting events, no different from the sportsbooks in Las Vegas or the United States. ‘Atlantic City.
I’ve heard many people argue that gambling is a gateway for people who are already in financial trouble to make their situation worse if they bet money they can’t afford to lose. . While that may be true, it’s also true for other betting options that are legal here in Kentucky, like the lottery. Have you ever stood in line behind someone at a convenience store and watched them buy a large number of lottery tickets, play their “lucky numbers” again while competing against odds of winning millions against a ? I’ve seen it many times, and I’ve always wondered, if those numbers are so lucky, why haven’t you won yet?
Odds-wise, with sports betting you have a much better chance of placing a winning bet. Will a team win or lose? There are only a few options. The same goes for many other bets that can be placed on sports. With the lottery, you are almost guaranteed to lose on Powerball, Megamillions and other games that offer these players the chance to become an instant multi-millionaire. It rarely happens.
Either way, if an adult wants to spend their money placing a bet, they should be allowed to do so. Our government simply cannot legislate good decisions and smart spending, and it should not attempt to do so.
Besides allowing adults to make their own decisions with their money, they could also benefit our state in the process if sports betting were legalized. Currently, the states of Kentucky (Indiana, Ohio, Tennessee, Virginia, West Virginia) offer legalized sports betting, and those who want to do so will travel across the border and place their bets, and those states will benefit, while that Kentucky continue to lose potential revenue.
According to the Associated Press report announcing Koenig’s bill, supporters of previous bills estimated that legalizing sports betting would generate approximately $22 million in annual revenue. I’m sure our state could find a place to use that money. Much of it is already spent in our neighboring states, so why not keep it at home?
The bill unveiled on Monday aims to legalize most forms of sports betting and regulate the taxation of all online gambling, including fantasy sports and online poker.
Legalizing sports betting “would take it away from bookmakers and offshore accounts,” Koenig said.
I couldn’t agree more. Let’s keep that money at home here in Kentucky and stop giving it to other states. It’s time to legalize sports betting in Kentucky.
Jeff Moreland is regional editor of Bluegrass Newsmedia.