Kentucky Sports Betting Regulators Hire COO

The committee that oversees Kentucky sports betting has made a groundbreaking hire. And it stays a lot about the popularity of sports wagering in The Bluegrass State.

The Kentucky Horse Racing and Gaming Commission (KHRGC) has decided to name Susan Speckert as the first ever Chief Operating Officer. Speckert, an attorney who has previously served as the general counsel for the Kentucky Horse Racing Commission, enters the position with a wealth of experience. And while the hire is mostly being framed through the lens of horse racing, Speckert will presumably be intimately involved in the big-picture business of sports betting in Kentucky.

Getting to Know the First Chief Operating Officer of Kentucky Sports Betting

According to an official press release from the KHRGC, Speckert will officially begin her position on August 19. The folks over at The Paulick Report have more details on her background and appointment:

“Most recently serving as the Commissioner of Law for the Lexington-Fayette Urban County Government, Speckert’s broad experience, unique qualifications, and deep knowledge of the horse racing industry led to her selection. Speckert previously served as General Counsel of the Kentucky Horse Racing Commission, where she was involved in all operations of the agency and was instrumental in drafting regulations related to historical horse racing.

“‘Susan’s commitment to and knowledge of the horse racing industry is well known,’ President & CEO Jamie Eads said. ‘Her professional experience makes her uniquely qualified to serve as the KHRGC’s first COO.’”

Speckhert’s appointment comes at a time when Governor Andy Beshear continues to say that Kentucky sports betting revenue is obliterating expectations. The Bluegrass State’s financial success, of course, isn’t much of a surprise. They have a rich history with wagering and the interest that comes with it.

Long before they let top online sportsbooks in the United States enter the market, Kentucky offered legal horse race betting. Even today, with so many other sports wagering options at their disposal, the state places an emphasis on their horse racing roots and industry.

Can Susan Speckhert Help Increase the Popularity of Horse Racing?

Framed through the aforementioned lens, Susan Speckhert’s appointment makes even more sense. Her extensive background as an advocate for the safety of horses and riders suggests she’s uniquely qualified to lead Kentucky sports betting into the next era of horse racing.

And yet, Speckert may be fighting against a rising tide. Though horse racing in Kentucky still remains fairly popular, the industry as a whole is on the decline. Over 40 racetracks have closed since 2000, according to ECoveAnimals.org.

The factors driving this dip vary. Land scarcity is often cited as a big one. Race tracks require ample space and resources. Many major markets don’t have the land to facilitate openings and ongoing maintenance. Developers and even state officials place an emphasis on residential and, more notably, commercial real estate.

Still, this doesn’t account for the entire decline, including inside the Kentucky sports betting market. The Jockey Club reported that attendance at horse racing tracks is down 30 percent since 2000. That type of descent doesn’t come down to the availability of open space.

Does the Horse Racing Industry Need a Face Lift?

Two other major factors stand out as issues Speckhert and her fellow Kentucky sports betting regulators may need to address. And to be sure, this is purely speculation, amounting to our read on the situation.

First and perhaps foremost, there is the rising popularity of online sports betting in the United States. Horse racing was for so long the only legal wagering option available to residents. That’s no longer the case. Sports fans in 38 of 50 states can now place bets on all sorts of events and leagues. And many of these people have the option of betting on sports from the comfort of their home. They needn’t visit a casino or race track to get their fix.

Overcoming this hurdle won’t be easy. Or even necessarily possible. The Kentucky sports betting online crowd is only growing in number, and the industry at large doesn’t appear to be slowing down. Traveling to physical locations could soon become obsolete. Consider this: In certain markets throughout the United States, well over 90 percent of bets placed are processed through a mobile sportsbook.

Horse racing isn’t just up against online sports betting competition. After all, mobile sportsbooks in the United States offer odds on horse racing. In reality, it might be the stigma against horse racing that’s driving down popularity.

As people become more concerned and in tune with animal rights and treatment, the horse racing industry has come under fire for its treatment of the horses. Everything from injuries to deaths to the way they’re fed and stabled is fair game.

Animal activists aren’t going anywhere, either. For now, it’s not clear if there is a universally safe and acceptable way to adjust to (valid) concerns. Perhaps that’s why Speckhert is being elevated to COO of Kentucky horse racing regulation. Can she oversee the improvement of horse racing and Kentucky sports betting all at once? It looks like we’re about to find out.

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