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Increased gambling opportunities will surely affect the Virginia Lottery which provides more than $560 million annually to fund public K-12 education programs. We wonder whether current lottery players will take their business to the casino, racetrack or off-track-betting facilities, essentially redistributing gambling proceeds away from the state (rather than the new venues generating growth by drawing in new gamblers). This issue needs to be studied fully — the way we fund public education could get a jolt if Virginia gets this wrong. The money generated from historical horse racing alone is enough to make any struggling locality see the color of cash. Green, however, is just one sliver of the visible spectrum. Let's look at Kentucky as an example. After all, the Virginia Racing Commission is using the Bluegrass State as a model for what could become of Old Dominion. During Kentucky’s 2017 fiscal year, more than $920.3 million was bet at historical horse racing terminals or about $1,430 per terminal per day. Of that total, 92 percent ($848 million) was returned to bettors in the form of winnings, 6 percent ($57.8 million) was paid to machine operators and the state collected 4 percent ($39.9 million) in tax revenue. Remember, Virginia wants to host 3,000 machines compared to Kentucky’s 1,755, increasing the opportunities for the General Assembly to collect revenue. It would also amplify the problems that come with gambling, including the number of Virginians exposed to the dangers of gambling addiction.
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