Missouri House Moving Forward with Sports Betting Legalization
Sports betting legalization is once again making headlines in Missouri as the state’s House prepares to take up a bill aimed at making the practice legal. After years of struggling to get a law passed due to Senate impasse, the latest effort comes as Missouri’s professional sports teams and mobile gaming operators push to get the question on the ballot.
The proposed House bill would tax bets at 10%, generating an estimated $35 million for education. It would also allow sports teams, mobile operators, and casinos to open betting parlors similar to those in neighboring states. The bill has gained support from prominent sports organizations, including the St. Louis Cardinals and Kansas City Royals, who argue that legalizing sports betting would bring in much-needed revenue for the state and help regulate the marketplace.
In a bid to bypass legislative approval, sports betting giants FanDuel and DraftKings are also funding a signature collection effort to put the issue directly to voters. Their proposal would set the sports betting tax rate at 10% and allow for both retail and online sports betting.
Despite the growing momentum in the House, two similar sports betting bills introduced in the Senate face uncertain prospects due to ongoing disputes over unregulated slot machines in gas stations and bars across the state.
The potential legalization of sports betting in Missouri is a significant development, especially as the industry continues to expand nationwide. The move could have far-reaching implications for the gaming and sports sectors, and likely signals a new era of opportunity for sports enthusiasts and industry stakeholders alike.
