Missourians will Vote on Legalizing Sports Betting in November

Details: Category: Gambling Industry; Created: Wednesday, 14 August 2024 06:09

It’s been a long time in the making and soon, Missouri might have legal sports betting within its borders. This is because Missourians will Vote on Legalizing Sports Betting after a campaign to put the issue on the ballot. For sports betting proponents, this is a great victory as legalizing sports gambling has been unsuccessful in the past.

According to Bookie News, the announcement on which issues would be in the November 5 ballot was made on Tuesday. This is when Secretary of State Jay Ashcroft’s office said a constitutional amendment to legalize sports wagering would be on the ballot. Furthermore, the vote for legal sports betting is one of 3 other issues Missourians will get to vote on in November 5. Other issues on the ballot will also include a minimum wage hike and abortion rights.

The proposal to legalize sports betting arises after the state legislature's repeated failures to pass such legislation in several sessions.

Despite interest from both Republican and Democratic lawmakers in endorsing sports betting, the initiative was consistently obstructed by Senator Denny Hoskins, who sought to link it with a bill aimed at legalizing video gaming machines.

The current proposal, designated as Amendment 2 on the ballot, is supported by various Missouri sports organizations, including the St. Louis Cardinals and the Kansas City Chiefs.

If approved, the amendment would permit individuals aged 21 and older to place bets at online sportsbooks. In addition, it would also allow placing in-person bets physical venues, such as casinos and designated professional sports betting areas.

However, wagering on high school or youth events, as well as betting on individual collegiate athletes from Missouri teams, would be prohibited.

Additionally, the proposed amendment grants the state legislature the authority to enact laws that align with its provisions.

Missourians will Vote on Legalizing Sports Betting in November – How it Got There

Missourians will Vote on Legalizing Sports Betting in November – How it Got There Ashcroft, a member of the Republican Party, confirmed that the sports betting initiative had gathered a sufficient number of valid signatures. His office has not yet disclosed the exact count of these signatures, which were authenticated by election officials throughout the state.

The initiative, named Winning for Missouri Education, enjoys the support of all major professional sports franchises in Missouri and has amassed over $6.5 million, including substantial contributions from leading mobile sports betting companies such as FanDuel and DraftKings.

The campaign reported that it submitted more than 340,000 signatures in May to initiate a statewide referendum. Bill DeWitt III, president of the St. Louis Cardinals, expressed gratitude to those who endorsed the petition on behalf of the state's professional sports organizations.

This proposal will appear on the ballot as Amendment 2. "Missouri is now on the verge of joining the majority of states in legalizing sports betting, which will generate millions of dollars for Missouri classrooms," he stated. "Supporting Amendment 2 in November is essential for both Missouri's public education system and our beloved sports teams."

This initiative follows years of stalled attempts in the General Assembly, hindered by intense conflicts among Senate Republicans.

What the Missouri Sports Betting Amendment Would Do

The suggested constitutional amendment would permit the Kansas City Chiefs, Kansas City Royals, Kansas City Current, St. Louis Blues, St. Louis Cardinals, and St. Louis City SC to obtain a license for accepting wagers on games and various outcomes. Additionally, it would enable the state’s casino operators to qualify for a license, along with two online betting platforms.

For bookies thinking about establishing their business if the betting law passes, now is a good time to start planning. The first step would be to select a pay per head sportsbook that meets your needs. Afterwards, it is just a matter of obtaining gambling license in Missouri. The advantage over the competition is that a Pay Per Head is a turnkey solution. Thus, a bookie could start taking sports wagers as soon as they obtain their sportsbook license.

Under this proposal, Missouri would impose a 10% tax on sports betting, with $5 million designated for a fund aimed at preventing compulsive gambling. The remaining funds, as indicated by the coalition's name, would be allocated to public schools and higher education. A fiscal note associated with the measure estimates that the revenue generated for the state from legalized sports betting could range from zero to $28.9 million annually.

A significant majority of residents in Missouri seem to favor the legalization of sports betting. A poll conducted in March revealed that 60% of likely voters support the legalization of betting on professional sports, while 25% oppose it.

The remaining 14% expressed uncertainty. Advocates for sports betting have consistently highlighted that Missouri has forfeited millions in potential revenue, particularly after Kansas initiated legal wagering in 2022. Consequently, many Missourians have traveled to neighboring Kansas and Illinois to place their bets.

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