For years, Kentucky citizens have had to sit back and watch sporting events that have taken place across the country, counting the days until they would finally be able to cash in on their obsessions.
When the decision was made to allow Kentuckians an opportunity to bet from their own state, there was no shortage of excitement buzzing through the streets.
This decision, which went into effect on Sept. 7, followed an incredibly precise timeline. For the first three weeks of the rule’s implementation, restrictions only allowed for in-person betting at just nine locations through- out the state.
Churchill Downs, the highlight of these locations, has served as the jewel of the Kentucky gambling conversation since its construction in the 1870s. In 1906, the formation of the Kentucky Horse Racing Commission allowed for the jurisdiction of betting at the race track to be run through the agency, and not through the state.
Due to the commission’s control of sports betting, Churchill Downs, as well as the state’s other eight licensed horse racing tracks, became the sole experience for sports bettors in Kentucky.
Though it took over a century, the racetracks’ monopoly on legalized betting is no more. As of Sept. 28, every Kentucky citizen over the age of 21 can now place a legal sports bet from their phone.
Almost every single sportsbook on the market offered a pre-registration bonus for sports betting. FanDuel offered $100 worth of free bets, Bet365 offered $10 for every Touchdown scored in the week 4 Packers vs Lions game and DraftKings was offering $200.
According to a Sept. 21 press release from Kentucky Gov. Andy Beshear, over 60,000 mobile accounts pre-registered to take advantage of the sportsbook’s offers.
Most people in the sports scene know that even though it is officially legal to place sports bets in the commonwealth, there has been no short- age of money won and lost across the Ohio River.
According to Gov. Beshear’s announcement on Aug. 17, Kentucky is expected to generate an estimated revenue increase of $23 million a year through sports betting. After just two weeks of the law’s passing, Kentucky bettors were quick to tally up over $4.5 million.
When asked about the extent of that number, Beshear was quick to look towards the future and the extent that mobile betting holds.
“This is a strong number that certainly reflects the excitement Kentuckians have for the opening of sports wagering,” Beshear said. “With college football and the NFL season underway, plus the launch of mobile wagering, we expect that number to grow significantly.”
The bill’s passing comes with an updated tax on placed bets. For bets placed in person, a 9.75% tax will be placed, while the number jumps up to an even higher 14.25% for those bets placed on mobile devices.
When speaking about the financial advancements made in the bill, it was noted that 2.5% of sports betting’s revenue will be set aside into the Kentucky Problem Gambling Assistance Fund. With the governor’s estimation of $23 million over the course of the first calendar year, that brings an estimated $575,000 to the common- wealth citizens struggling with the new legislation.
A kickoff event for Kentucky bet- tors, hosted by Beshear, would see the inaugural bet placed on the University of Kentucky and the University of Louisville in their attempt to defeat their projected win totals for the season.
Betting on college sports is by no means a novel idea. For over fifty years, sports gambling has taken on the NCAA in a battle to grow the pockets of both groups.
Austin Reed, WKU graduate senior quarterback, explained the precautions he has taken as a student-athlete navigating these changing conditions.
“We had a meeting with compliance back in July,” Reed said.
“They explained everything, and had us watch a video on what we’re allowed to do and what we’re not allowed to do. We were really educated well on that by our administration.”
To Reed, worrying about sports betting has no place in actively playing the game.
“They take it seriously, we take it seriously, and we want absolutely no association to that,” Reed said. “We only work on playing the game, we don’t worry about the spreads and things that come with that.”
Kentucky is one of 24 states that does not have a major professional sports team. However, when it comes to blue bloods, Kentucky has a tradition of excellence in college sports that dates all the way back to the original college basketball AP Poll in 1950. Kentucky, WKU, Louisville and Murray State all found themselves ranked at points during the season.
With this pride and excellence shared between the state and its success in the non-professional sports world, the demand for performance is just as high.
These expectations could further increase as fans receive the ability to bet on players. According to ESPN, college athletes now face the threat of social media attacks from sports bettors, all while tackling other stressors in college.
In addition, since the start of COVID-19, student-athlete mental health has seen an all-time low. In an NCAA survey, student athletes were polled about the tolls of their mental health and the effects that balancing two lifestyles had on their well-being. Only 60% of the students polled knew where to go to seek help on campus, and an even lower 45% said they would actually seek this treatment out.
With the growth of betting in the United States over the last few years, the true colors of some universities have come to light. Most notably, the recent football scandals coming out of Iowa.
The state of Iowa legalized sports betting in 2019. After 3 years of an almost perfect record, a report of Iowa State students, including members of the football team, wrestling team and student managers, making bets on their own games came into the media.
In a survey taken of WKU students, 10% of Hilltoppers said the recent legalization of sports betting will encourage them to attend more WKU athletic events. 30% of students even said that they plan to make over 15 bets from now until the end of 2023.
In the instance where WKU won a game but the students’ betting team lost, over 35% of the people polled said they would be more sad for their bet than happy for a Hilltoppers win.
For those interested in sports betting, understand there is no way to bet 100% safely, however, there are a few precautions that can be taken. These include only betting what you can afford to lose and only betting money that comes from a set budget or an entertainment allowance.
Sports reporter Luke Edmonds can be reached at luke.edmonds938@ topper.wku.edu.
