- Missouri voters approved a constitutional amendment to legalize sports betting by less than 7,500 vots
- Online sports betting will likely launch sometime in 2025
- Retail sports betting may be sooner
Missouri voters have spoken and they have approved a constitutional amendment by an incredibly narrow margin to legalize sports betting in the Show-Me State.
Missouri voters approved Amendment 2 in Tuesday’s general election, with the Secretary of State’s Office reporting a margin of victory of just 7,486 votes to legalize retail and online sports betting in the state.
It’s the end of a long road of attempts to legalize sports betting in Missouri, as voters finally took it into their own hands to approve the new form of gaming.
Campaign Lauds Voter Decision
Voters approved the sports betting amendment by 1,469,866 yes votes to 1,462,380 no votes. Missouri will become the 39th state in the country to legalize sports betting and the 31st to approval online sports betting as well.
The approval of the sports betting amendment will allow each professional Missouri sports franchise and land-based casino to be eligible for one retail sports betting license and one online sports betting license each. Each individual team and casino will also be able to partner with up to one online sports betting operator.
In total, the state can see 19 retail sports betting licenses and 21 online sports betting licenses under this framework.
The state will set its sports betting tax rate at 10% and allow for promotional deductions against sports betting revenues. It’s estimated by sports betting proponents that the state could see upwards of $28.9 million annually in sports betting tax revenues.
The Winning for Missouri Education campaign thanked voters for the approval. Backed by the St. Louis Blues, St. Louis Cardinals, St. Louis SC, Kansas City Royals, Kansas City Chiefs, and Kansas City Current, the Winning for Missouri education campaign raised more than $42.5 million in donations in the past year.
The vast majority, more than $40.8 million, came from DraftKings and FanDuel. The teams (excluding the Chiefs) donated more than $1.6 million to the cause.
“Missouri has some of the best sports fans in the world and they showed up big for their favorite teams on Election Day. On behalf of all six of Missouri’s professional sports franchises, we want to thank the Missouri voters who made their voices heard by approving Amendment 2. This historic vote makes Missouri the 39th state to legalize sports betting and ensures we no longer loses valuable tax revenue to our neighboring states. Most importantly, the passage of Amendment 2 means a new, dedicated, permanent funding stream for Missouri classrooms,” Bill DeWitt III, President of the St. Louis Cardinals, said on behalf of the campaign.
Jeremy Kudon, president of the Sports Betting Alliance, described the results as a “huge victory” in a released statement.
“This is a huge victory for Missouri fans and for the diverse coalition that worked together to pass Amendment 2. Amendment 2 won even despite a historic $14 million spent in opposition – the most ever spent against a Missouri initiative. We are grateful to the Missouri professional sports teams who helped lead this effort and for the broad coalition that made this possible.”
Opposition Campaign Raised Millions
The sports betting coalition was able to overcome the efforts of the most financially backed opposition campaign in Missouri election history. The Missourians Against the Deceptive Online Gambling Amendment raised more than $14.1 million, the majority of which came from Caesars Entertainment and its three state casinos.
The gaming company invested heavily to support the anti-Missouri sports betting campaign, which seems counterintuitive. However, Caesars likely has a problem with the way the sports betting ballot initiative will dole out licenses in the state if approved.
Under the proposed ballot initiative, the state’s casinos would receive a single online sports betting license and two untethered licenses will be available for sports betting companies to operate in Missouri. Caesars likely has a problem with this aspect of the proposed initiative, as previous iterations of Missouri sports betting bills allowed casino operators to have multiple online sports betting skins.
Neither DraftKings or FanDuel operate a casino in the state, so it’s likely they would be in line to receive the untethered licenses.
When Will Missouri Sports Betting Launch?
The amendment will go into effect in 30 days, at which point Missouri regulators can begin formulating rules and regulations for retail and online sports betting.
According to the amendment, Missouri sports betting will have to be launched no later than Dec. 1, 2025. However, it’s likely that regulators will push to launch Missouri sports betting earlier than the deadline, as they’ll want to take advantage of the lucrative 2025 football season.
It typically takes on average eight months from the approval of a bill to sports betting launch in state. The latest state to launch sports betting, North Carolina, took nearly nine months after the state approved in June 2023 and launched in March 2024.
If the average launch time remains for Missouri, the Show-Me State would be looking at a potential launch in August 2025. However, other states have accelerated the process, as Kansas needed just 74 days from the signing of its bill into law to launch sports betting.
Residents who are 21 years of age and older will be eligible to participate.
The bill will allow betting on collegiate sports, but will prohibit collegiate player prop bets if the event involves a Missouri college team. The bill does not allow for daily fantasy sports in the Show-Me State.
Retail and online sports betting licenses will be available for sports franchises and casinos for $250,000 and $500,000, respectively.
Missouri is set to join the growing number of states that have legalized sports betting, following in the footsteps of neighboring states like Illinois and Iowa. The move comes after years of debate and discussion, with lawmakers finally reaching a consensus on the issue.
The legalization of sports betting in Missouri is seen as a major win for both sports fans and the state’s economy. Proponents argue that legalizing sports betting will bring in much-needed revenue for the state, as well as create new job opportunities in the industry. Additionally, supporters believe that regulating sports betting will help to curb illegal gambling activities and protect consumers from potential scams.
Under the new legislation, sports betting will be allowed at both physical locations, such as casinos and racetracks, as well as online through licensed operators. This means that Missouri residents will soon be able to place bets on their favorite sports teams from the comfort of their own homes.
However, it’s important to note that there will be strict regulations in place to ensure the integrity of sports betting in Missouri. Operators will be required to adhere to guidelines set by the state gaming commission, including age verification measures and responsible gambling practices.
Overall, the introduction of legalized sports betting in Missouri is expected to have a positive impact on the state’s economy and provide sports fans with a new way to engage with their favorite teams. As the industry continues to grow, it will be interesting to see how this new form of gambling shapes the sports landscape in Missouri.
