Missouri’s major sports clubs and gambling casino executives signed an agreement that they hope would allow sports betting to be legalized in the state.
After four years, major sports executives, including St. Louis Cardinals President Bill DeWitt III, fanned out in the Capitol on Wednesday promoting a plan that would put Missouri in step with the 32 other states that have authorized gambling on competitive events.
Legalized sports betting, according to DeWitt, may provide “an engaging content directed towards fans experience for our supporters while also providing an essential source of revenue for Missouri.”
“Missouri’s professional franchises of sports support legislation that allows responsible wagering in the right environment,” DeWitt mentioned.
Separating the sports betting problem from efforts for making video gambling in all gas stations, truck stops, and public bars legal is a key component of the strategy.
“They hope sports betting can be argued under own merits,” Jeff Morris, VP of public affairs and governmental relations for Penn National Gaming, running the Hollywood Casino in Maryland Heights.
Sen. Dan Hegeman, R-Cosby, who is supporting a sports betting bill, said it offers a promising chance of moving ahead.
The pact between the casinos and sports teams would also divert attention away from Senate President Dave Schatz, R-Sullivan, looking forward to stopping the fast growth of illegal video gambling machines in convenience shops around the state. It might also eliminate statewide public referendum on entire sports wagering, which the sports clubs are considering.
Full-scale sports betting was outlawed in all states except Nevada until a court ruling in 2018.
Since 2019, around 20 laws containing some sort of sports betting have been introduced, but none have yet to be passed.
At least four legislations have been proposed in the Missouri Legislature this year that may provide the groundwork for Missourians to gamble on Cardinals, Kansas City Royals, St. Louis City soccer club, and Kansas City Current women’s soccer team games.
Morris believes that the successful implementation of sports betting will serve as a guide for Missouri lawmakers, who will be in session until mid-May. Find more details here about sports betting and the best tips and tricks to follow and win big rewards.
According to the National Conference of State Legislatures, the tax rate is between 6.25 percent to 51 percent. As a starting point, the Missouri coalition has settled on a 10% tax rate.
Taxes on gambling have brought in more revenue in other states. Last year, Additional Jersey pulled in $49.4 million in new tax revenue, according to the NCSL. In 2020, Pennsylvania received $38.7 million in revenue.
