Since legalizing sports betting in 2023, Kentucky has produced over $324 million in adjusted gross revenue and contributed nearly $46 million in tax revenue.
Kentucky is reaching the end of its first year with legal sports betting. The state has launched a new initiative to address the potential surge in gambling problems.
Some of the tax revenue from sports betting is now directed to the Problem Gambling Assistance Fund.
This foundation aims to raise awareness and train health personnel to deal with gambling disorders effectively.
$324 million revenue Increases funding for gambling education and healthcare training
Kentucky has generated more than $324 million in adjusted gross revenue since legalizing sports betting in 2023, with a $46 million effect on tax funds. The majority of this money goes to the state pension fund, with the remaining 2.5% going to the assistance fund.
See also:
- Investors Seek Rory Campbell Explanation for Missing Betting Funds
- Switzerland-Liechtenstein Strengthen Cross-Border Gambling Protections
- French online sportsbooks to increase promotions in 2025
This fund is overseen by the Kentucky Cabinet for Health and Family Services, and applications for its two main programs will open in October 2024.
These initiatives provide funding to launch public awareness campaigns and train healthcare practitioners to identify and treat persons with gambling problems.
Even when money is available, there is little interest in healthcare training. Lisa Lee Williams, the cabinet’s Chief of Staff, stated that while they have received submissions for public awareness programs, no one has submitted for healthcare training, according to Louisville Public Media.
She emphasized the importance of considering yearly funding numbers before making any promises for projects.
Groups such as the Kentucky Council on Problem Gambling (KYCPG) are investigating how to use this money.
Mike Stone, the CEO of KYCPG, stated that they intend to seek assistance with their annual education and awareness meeting, as well as training programs for counselors.
In 2024, the council trained 20 persons to become certified gambling addiction counselors, with plans to double that number following year.
Young men outnumber older adults seeking support for gambling issues.
The popularity of sports betting has resulted in a significant increase in calls to the 1-800-GAMBLER helpline operated by RiverValley Behavioral Health in Owensboro.
Numbers reveal that monthly call totals have increased since betting became legal, indicating a larger demand for convenient assistance.
KYCPG President RonSonLyn Clark, a trained gambling counselor, has noticed a significant shift in who seeks help. Previously, older adults constituted the majority of the clients, but young guys now dominate the list.
Clark believes this shift is due to sportsbooks’ aggressive advertising and promotions, which frequently include enticing offers such as free play money.
KYCPG is experimenting with innovative techniques to combat the expanding addiction problem, such as deploying peer support specialists — those who have overcome their own gambling addiction — to assist others in recovery.
Clark emphasized the importance of preparing a workforce to manage increased treatment requests as sports betting becomes more prevalent in Kentucky’s society.Kentucky wants to strike a balance between profiting from sports betting and dealing with its drawbacks.
Join us on all our social channels and groups
Gameongazette is present on:
