Missouri Pro Sports Coalition Pushes for Sports Betting

Missouri could be gearing up to legalize sports betting, with four new sports wagering ballot initiative petitions filed by the Pro Sports Coalition. This coalition comprises the professional sports teams in Missouri.

The objective? Amend the Missouri State Constitution and greenlight sports betting by the end of 2025. Those behind the petitions emphasize the potential benefits for the state, particularly in tax revenues. Companies securing sports betting licenses would face a 10% tax, with the proceeds aimed at bolstering elementary, secondary, and tertiary education in Missouri.

For those wondering where they’d place their bets, the petitions offer some insights. Casinos, stadiums, and arenas that have a seating capacity of 11,500 or more and host professional sports teams’ home games could be eligible to house physical sports books. Meanwhile, for the tech-savvy, online betting platforms are on the horizon. But there’s a catch: you’d have to be 21 or over and within Missouri’s borders to place your online wager.

When it comes to the financial side of things, companies would shoulder the burden of hefty licensing fees. A mobile license could set them back $500,000, while a physical retail license would cost half that at $250,000. These licenses come with a five-year expiration date. It’s worth noting that these fees aren’t just for revenue; they’ll cover the costs of regulating sports betting and support the Compulsive Gambling prevention Fund.

However, there’s still a road ahead. The ball is now in the court of the Secretary of State’s Office, which is currently inviting public feedback on the proposals. Residents can share their thoughts directly on the Missouri Secretary of State website. The codes for these proposals are 2024-135, 2024-136, 2024-137, and 2024-138. Once the feedback is in and the legal boxes ticked, supporters can rally to gather signatures. If all goes well, Missouri voters could see this issue on their 2024 ballots.