Missouri Narrowly Passes Sports Betting Vote
The state of Missouri has passed a vote to allow legalized sports betting, becoming the 39th U.S. state to regulate the industry. Voters were asked whether sports betting should be allowed in the state. The call was very tight, with less than 7,500 votes in it, but Amendment 2 was passed with 50.1% of the vote.
Bettors could see regulated sports betting as early as December. However, Amendment 5, which asked voters whether a new casino should be opened at the Lake of the Ozarks, did not fare as well, losing 52% to 48% meaning that the new casino will not go ahead.
Missouri does not have regulated online casinos. It is generally accepted that players in the state who want to enjoy casino games online need to use offshore casino sites like Mega Dice here. Offshore casinos are regulated and licensed in other countries. They are legal and they offer the same range of features as US-based online casinos.
While Missouri doesn’t have legalized online casinos, it does now have legalized sports betting. After the Supreme Court ruled against the federal law to prevent sports wagering, Missouri started to push for legalized wagering on sports in the state.
In the meantime, every state that borders Missouri has introduced this type of betting, apart from Oklahoma. The most recent push was headed by Missouri’s professional sports teams from the MLB, NFL, NHL, MLS, and NWSL.
Initially, the state’s casino operators pushed back against the proposals, spending a lot of money to advertise and gather opposition. They did so because they believed they would only be given one license per operator. The state clarified that a license would be granted to each physical casino location. Following this, the casinos went quiet and reduced their spending.
New legislation is passed into law 30 days after a ballot vote. This means that online sports betting could be launched as soon as December 5, although it is currently unclear whether any of the license holders will be ready for that date.
When it comes to Missouri license holders, all 13 casinos, which are run by 6 separate casino operators, will be given licenses to offer sports betting from inside their casinos while also offering a mobile sports betting platform. Six professional sports teams are also permitted to open retail sports betting locations within a neighborhood near their stadiums. And 2 final licenses will be granted to operators that are currently unaffiliated with any of the state’s sports teams or casino operators.
The state will take 10% of gaming profits as tax, although promotional offers and federal taxes can be deducted before state taxes are calculated. Experts have estimated that Missouri will see nearly $22 billion placed in sports bets within the first five years, with almost all (98%) of this money being bet online. They further estimate that the state will rake in $134 million in taxes during the period.
However, following the loss of Amendment 5 on the ballot, the state will not be getting additional taxes from the casino project proposed at the Lake of the Ozarks following its loss at the polls.
