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There’s a move to legalize sports betting in Kentucky. And there should be no surprise since the Commonwealth legalized Historical Horse Racing last session. Now, some are asking why not legalize betting on sports and reclaim some of the revenue to keep it here in the state? Good question. Sports betting is already going on in the Commonwealth. The question is whether or not the state will create a regulatory structure to legalize it, and expand it in order to get some of the revenue. In principle, gambling doesn’t create new wealth, provide a new service, or contribute to human well-being. We do know much of the downside, which makes us wonder why our lawmakers would consider legalizing sports betting.

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