Dec 5, 2024, 3:32 PM
Dec 5, 2024, 3:32 PM

Missouri approves sports betting, sparking heated debate among fans

Highlights
  • Missouri voters approved a sports betting constitutional amendment in November 2024.
  • The measure was significantly funded by DraftKings, FanDuel, and professional sports teams.
  • The successful passage positions Missouri to enhance community support and education funding through sports betting revenue.
Story

In November 2024, Missouri voters passed a constitutional amendment allowing sports betting in the state. With a narrow margin of 50.05%, this approval enables state regulators to establish sports betting by December 1, 2025, although betting will not commence immediately. This measure was propelled by significant financial backing, totaling $43 million from supporters, including major sports betting companies DraftKings and FanDuel, as well as contributions from key state professional sports teams like the St. Louis Cardinals and Kansas City Chiefs. The overwhelming funding starkly contrasts the opposition campaign, which was only able to gather $14 million, all from Caesars Entertainment. The constitutional amendment not only permits in-person betting at the state's casinos and sports venues but also allows two mobile betting operators to be licensed directly by the Missouri Gaming Commission. Furthermore, on-site betting will be managed by the professional teams within a 400-yard radius of their arenas and stadiums. Missouri will impose a 10% tax on sports betting revenue, which is notably less than the national average of 19%. Importantly, the constitutional amendment mandates that a minimum of $5 million annually from licensing fees and taxes will be allocated to programs aimed at addressing problem gambling, while additional revenues will benefit educational institutions in the state. This measure comes after multiple failed legislative attempts to legalize sports betting in Missouri's state Senate. As public interest in sports betting has surged following the Supreme Court's decision in 2018, which lifted a federal ban, Missouri aimed to join the growing list of 38 states and Washington D.C. that have already authorized sports betting activities. While the opposition group, Missourians Against the Deceptive Online Gambling Amendment, has stated it does not intend to request a recount, Missouri law allows for such a request if the margin of victory were less than 0.5%. The mix of high-stakes campaigning and the presence of professional sports teams indicates a strategic move to engage local communities and boost state revenues. As sports betting becomes fully operational in the state by the upcoming deadline, many eyes will be on Missouri to see how this will affect local economies, community programs, and the sports landscape as a whole.

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