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But critics of legalized gambling say the moves would position Churchill Downs well if sports betting is allowed at brick-and-mortar locations like Derby City Gaming. Theyre betting that the legislature is going to pass this and theres a chance theyre right, said Martin Cothran, senior policy analyst and spokesman for the Family Foundation of Kentucky. The conservative advocacy group opposes the expansion of all gambling in Kentucky. "They apparently have enough money themselves from people who have lost wages to build facilities that are a little bit of a gamble for them," said Cochran. In May, the U.S. Supreme Court ruled unconstitutional a law that had effectively prohibited sports betting outside Nevada for the past 25 years. Instead, the justices left it up to individual states whether to allow sports betting. Under Kentuckys Constitution, gambling is illegal with two exceptions: lotteries run by the state and by charities. Parimutuel wagering on horse races in which there is no house take is also legal, according to a 1931 court case. For now, it is unclear whether gambling on other sports will be put to a vote through a constitutional amendment.

For the original version including any supplementary images or video, visit https://www.courier-journal.com/story/money/companies/2018/09/18/churchill-downs-positioned-legalized-sports-betting-casino-gaming-kentucky/1304535002/

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The furorover a political clampdown on British betting shops is no exception. Gross margins for some "sin" stocks are among the 20 highest in the U.K. The U.K. government has delivered on its threat to slash the maximum bets on so-called fixed-odds betting terminals, the brightly-colored, casino-style games played on a screen in-store. The upper limit will now be 2 pounds ($2.70), down from 100 pounds ($135), every 20 seconds. Politicians have given a very clear and succinct reason for the cap: Problem gamblers are a greater cost to society than to themselves.

For the original version including any supplementary images or video, visit https://www.bloomberg.com/view/articles/2018-05-17/-135-in-a-slot-machine-every-20-seconds-is-crazy

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