Friday, April 12, 2024
ScoreBig - Get Tickets for Less

Missouri Legislators Revisit Sports Betting Debate Amidst Growing Momentum

Despite previous setbacks due to Senate impasses, lawmakers are gearing up for what some describe as a déjà vu experience reminiscent of “Groundhog Day”

Rep. Dan Houx, a Warrensburg Republican spearheading the effort, is championing House Bill 2331, currently under consideration by the Special Committee on Public Policy, reported The St. Louis Post-DIspatch

The proposed legislation, if successful, would usher in a new era for Missouri’s gaming landscape, legalizing sports wagering and potentially generating an estimated $35 million for education through a 10% tax on bets.

St. Louis Cardinals President Bill DeWitt III emphasized the economic benefits, stating that Missouri is losing valuable tax revenue by not legalizing sports betting. The proposal aims to address problem gambling, generate revenue for the state, and regulate the burgeoning marketplace.

A parallel initiative is gaining momentum as well, driven by Missouri’s professional sports teams and mobile gaming giants. FanDuel and DraftKings recently contributed $2 million to a signature collection effort orchestrated by the “Winning for Missouri Education” coalition. 

A minimum of 180,000 signatures must be collected for the measure to be eligible for inclusion on the November ballot. According to the measure, teams would assume responsibility for both sports betting operations and advertising within a 400-yard radius of their stadiums.

This coalition, which includes major teams like the St. Louis Blues and the Kansas City Chiefs, seeks to secure voter approval for sports betting, potentially sidelining legislative action.

The proposed bill 2331 faces opposition from lobbyist Bob Priddy, who argues that the 10% tax rate is insufficient compared to the 21% tax rate imposed on casinos. 

However, proponents like Sean Ostrow, representing FanDuel and DraftKings, contend that Missouri is missing out on revenue, with an estimated 350,000 residents attempting to place bets on mobile devices.

As the legislative drama unfolds, the state’s riverboat casinos, numbering 13, await the potential evolution of their offerings to include sports betting. The bill also opens the door for mobile bets, creating opportunities for internet users to engage in sports wagering within the state.

While the House deliberates on HB 2331, another bill, SB852, championed by Sen. Tony Luetkemeyer, introduces a stiffer 12% tax on sportsbooks

Simultaneously, Missouri’s professional sports teams are advocating for a direct appeal to voters, showcasing a multi-faceted approach to legalizing sports betting in the Show Me State.

Leather Head Sports

Related Articles

5-Hour Energy

Latest Articles

Leather Head Sports