The Missouri House gave first-round approval to a bill allowing on-site and online betting on college and professional sports. The measure is backed by the state’s six major professional sports teams plus five of the six state-licensed casino operators. The bill’s sponsor, state Rep. Dan Houx, said “It’s been a long time coming. This is the first time we got everybody to the table and got 99 percent of the people to the plate.”
House Speaker Pro Tem John Wiemann said, “Missourians are doing it right now and we are not getting the benefit from the tax standpoint.”
Fiscal notes for the bill estimated Missourians would wager $150 million annually on sporting events. The tax rate on betting revenue would be 8 percent, lowered from the original 10 percent, producing $10 million for the state.
Under the legislation, the Missouri Gaming Commission would regulate and license betting platforms. Each of the state’s six casino operators could offer three skins, with each casino company limited to six total. Penn National and Caesar’s Entertainment each operate three Missouri casinos. The state’s six pro teams would get one skin each. The bill also requires gambling platforms to use official league data for settling bets other than final outcomes.
Provisions also were added that would offer self-exclusion, state-sponsored problem gambling services and research on problem gambling and the effectiveness of prevention programs.
The bill moves to the Senate, where things could get complicated. The Senate is already considering two bills identical to the one passed by the House, but a third bill from longtime sports betting advocate Senator Denny Hoskins adds a higher tax rate—21 percent—and allows lottery retailers to participate. All bills will have to go before committees before a final vote can be taken.
