Tired of the inaction of state legislators, Missouri sports teams have begun a petition drive to get sports betting before the state’s voters. The Missouri Pro Sports Betting Coalition, composed of the state’s professional sports teams, has filed four petitions with the aim of getting sports betting on the ballot.
These petitions seek to revise the Missouri constitution to allow for sports betting and propose a launch date no later than December 25, 2025.
The petitions put forth by the Missouri Pro Sports Betting Coalition outline various regulations and licensing requirements for sports betting in the state. If approved, the proposals would allow for both online and in-person wagering at casinos and sporting venues with a capacity of at least 11,500 people. Each operator would be granted one online and one retail license, with an additional four mobile-only licenses available. This approach aims to provide a balanced and competitive market for sports betting operators.
One crucial aspect of the proposed initiatives is the financial framework surrounding sports betting in Missouri. The licensing fees for mobile operators would be set at a relatively low $500,000 for a five-year online license. Additionally, the tax rate on sports betting would be set at 10 percent, which is considered relatively low compared to other states. For example, New York taxes sportsbooks at a rate of 51 percent.
The tax revenue generated from sports betting would be allocated towards funding education, while the licensing fees would contribute to the state’s Compulsive Gambling Prevention Fund. This financial structure seeks to strike a balance between generating revenue and addressing social concerns related to gambling.
While the filing of the petitions is a significant step towards legalizing sports betting in Missouri, there are several stages and potential roadblocks along the way.
Following the submission of the petitions, there will be a public comment period during which Missouri residents can offer feedback on the proposed initiatives.
Upon completion of the public comment period, the Missouri Secretary of State’s office will review the petitions and determine whether they meet the necessary requirements. The state’s attorney general will also play a crucial role in approving the petitions and drafting the ballot summary language, which must be done within 23 days of petition approval. This step ensures transparency and clarity for voters when considering the ballot measure.
If the petitions are approved by the Secretary of State, supporters of sports betting legalization can begin the process of collecting signatures. To secure a spot on the 2024 ballot, advocates will need to obtain signatures from at least five percent of registered voters in six of the state’s eight congressional districts.
Once the signatures are collected, they will need to be certified by the appropriate authorities. If the required number of signatures is obtained and the results are certified, the sports betting initiatives can be included on the 2024 election ballot, which is scheduled for November 5. This final step represents a crucial milestone in the journey to legalize sports betting in Missouri.
Proponents claim regulated sports betting would create new job opportunities in the industry, ranging from sportsbook operators to marketing professionals
One of the main arguments for legalizing sports betting is to address the existing underground market. Currently, many Missourians are crossing state lines to place bets in neighboring states where sports betting is legal. Legalizing sports betting in Missouri would provide a safe and regulated environment for individuals to engage in this activity, mitigating the risks associated with the unregulated market.
