The Super Bowl may be America’s largest betting day, and there may be more gamblers on March Madness; but in Commonwealth, the Kentucky Derby is king. In 2023, $288.7 million was wagered on the Derby.
“Because the Derby is for many a social event, those who are not familiar with gambling on horse racing or who are new to betting in general can get carried away with excitement and bet over their heads,” said Michael R. Stone, executive director of the Kentucky Council on Problem Gambling (KYCPG). KYCPG urges everyone to consider a simple, three-question self-test to protect against gambling to excess.
Responsible gambling starts before beginning a gambling opportunity by answering these questions:
• Whether to gamble? — Will gambling interfere with your responsibilities? Losing is likely and you cannot control chance.
• When to gamble? — Are you free of stress? Gambling is not a healthy way to deal with emotions or stress.
• How much to gamble? — Have you set limits? Gambling is entertainment, not an essential use of time or money.
If you do choose to gamble, remember to keep track of pre-set time limits, budget your money, take frequent breaks, and avoid ATMs or other sources of money or credit.
“Most individuals gamble as entertainment,” Stone said. “They mind their time and money and have no adverse consequences. But for some, gambling is more than entertainment. It’s a mental health disorder. They cannot control their gambling.”
If problematic or disordered gambling is a possibility, help is available. A gambling help website — www.kygamblinghelp.org — provides more information and includes a self-examination. For immediate assistance, call or text 1-800-GAMBLER (1-800-426-2537). A trained telephone counselor is available to talk, offer referral to Gamblers’ Anonymous or a certified gambler counselor, and can send information on gambling disorder.
This year, the first Kentucky Derby will be run with sports gambling legal in Kentucky. It is not known whether that will have an impact on Derby wagering. Sports betting has stimulated more gambling. More gamblers can result in more wagering and more individuals developing a problem. That’s why KYCPG is raising awareness and promote responsible gambling.
“We know some people are compelled to bet on Derby Day. It’s an exciting event with a festival building excitement for the first Saturday in May,” said Stone. It seems everyone talks about the Derby and the parties. It is hoped individuals don’t get carried away. It is hoped they keep it fun and gamble responsibly.”
Kentucky Council on Problem Gambling