The new 2024 legislative session has seen two lawmakers in Missouri file separate bills that seek to legalize sports betting in the Show-Me State.
SB852 was filed by Sen. Tony Leutkemeyer, his second attempt to launch legal sports betting in Missouri after his first bill failed to garner sufficient support in the Senate in 2023’s legislative session.
SB852 key points
- Riverboat casinos allowed to partner with up to three online sports betting providers
- Professional teams allowed to partner with one online sportsbook
- License fee of $100,000 with renewal fees due every four years
- Minimum age requirement of 21
- No betting on school sports
- College sports betting allowed but not on in-state teams
- No prop bets allowed on college sports
- 12% tax on GGR
- 100% of promotions deductible in first year, reduced by 25% each year thereafter
A second bill was filed by Sen. Denny Hoskins. The senator has previously been vocal in his support of the legalization of video lottery terminals (VLTs) and this is the primary goal of his proposed bill SB824. However, he has also included language to legalize sports betting.
While much of the language of SB824 is similar to that of SB852, one key difference is that riverboats can only partner with two mobile sports betting providers. They must pay and administration fee of $250,000 for the first partnership and $500,000 for the second one. There is also a slightly lower tax rate of 10% on sports wagering GGR.
Sports Betting Could be on November Ballot
In November 2023, Missouri’s Secretary of State Jay Ashcroft approved language for a legal sports betting ballot measure. The measure is supported by the state’s professional sports teams and is currently at the petition stage. Organizers of the measure must collect the required 170,000 signatures in order to place sports betting on the ballot.
The coalition filed eight proposed ballot questions which vary slightly in language and details. However, all eight versions propose a 10% tax on wagers and call for the creation of a $5 million problem gambling fund.
If approved, the ballot measure would allow the state’s professional sports teams and Missouri’s 13 casinos to offer both retail and online sports betting.
Ciaran has been working within the Gambling Industry as a deep analyst since 2019. His deep knowledge and understanding of all the gambling regulations, and processes makes him a true asset, and an always valuable point of view for Gambling Industry News, allowing us to cover every topics from a brand new perspective.
