The legalization of betting on sports in Missouri has been a hot topic ever since the US Supreme Court’s decision to strike down PASPA in 2018. While previous efforts failed, a proposal that would pave the way for legal wagering was approved by Missouri voters Tuesday.
Amendment 2 Secures Voter Approval
That is the case for Amendment 2, that was greenlighted by voters. The approval of the proposal means that by the start of the NFL playoff early next year, Missouri residents may be able to place legal wagers. This is because approved amendments of the state constitution become laws 30 days post-election.
In other words, if the state doesn’t encounter any hiccups, the first legal sports wagers may come to Missouri residents early next month. Still, the process of launching legal sports betting is complex and the state may require more time. Realistically, January sounds like a more plausible option yet there’s no specific deadline set, at least for the moment.
Under Amendment 2, land-based casinos and sports leagues will be permitted to offer both retail and online sports betting. While there are six casinos that would be able to establish retail betting outlets, sports leagues such as the NHL, NFL and MLB, among others, will be permitted to develop one retail betting venue that is adjacent to their respective stadiums.
In addition to the ability to join forces with sports leagues and land-based casinos, Missouri will offer two standalone licenses. The proposed taxation for sports betting is 10%, which is on the low end, considering that some US states tax betting at 50%.
Millions Spent on Two Gambling Initiatives
Sports betting is expected to deliver millions in tax revenue, helping fund different programs across Missouri. Importantly, the legalization would bring licensed operators to the state, allowing bettors to benefit from responsible gambling tools and self-exclusion. Moreover, legal betting will enable monitoring of the market, allowing vulnerable or at-risk customers to receive relevant help.
In contrast to Amendment 2 which was passed by the voters, Amendment 5 did not make it. Amendment 5 proposed the development of a new casino close to the Lake of the Ozarks. Although the effort received more than $10 million in funding, the votes in favor were not enough.
Unlike Amendment 5, Amendment 2 saw extensive support. A sum close to $100 million was spent by the organizations supporting and opposing Amendment 2. This helped set a new record for the state.
