ST. LOUIS – The upcoming election on Nov. 5 will give registered Missouri voters the option to vote on a set of measures, one of which is Missouri Amendment 2, the legalization of sports betting.
Currently, sports betting is legalized in 38 states across the United States. Within Missouri Amendment 2, the Missouri Gaming Commission would regulate sports wagering and provide licenses to institutions to distribute betting through existing Missouri casino operators, online sports platforms, like Fanduel and DraftKings, or professional sports teams, like the Cardinals, Royals, Chiefs, and Blues.
Yes or no?
By voting “yes” on Amendment 2, the Missouri Constitution would be amended to allow sports betting to be legal in the state. The initiative will restrict sports betting to individuals physically located in the state and over the age of 21. The amendment includes a 10% wagering tax on revenues received to be appropriated for educational institutions in Missouri.
By voting “no” on Amendment 2, the Missouri Constitution would not be amended, and sports betting will continue to be prohibited in Missouri.
What’s in the amendment?
Under the proposed amendment, license fees from the commission and a 10% wagering tax on revenues would be assessed to benefit education in Missouri and to fund the required Compulsive Gambling Prevention fund for those that get addicted to gambling.
The amendment would establish a $500,000 license application and five-year renewal fees plus a 10 percent tax on the licensees adjusted gross gaming revenues. The early estimate of year tax revenues generated for the State of Missouri is nearly $29 million.
A hot topic
Amendment 2 has been a hot-button voting topic throughout Missouri. In September, a Missouri judge allowed the initiative to remain on Missouri ballots after a lawsuit aimed to block the sports betting question from showing up on the ballot.
Gaming industry journalist Ryan Butler of the website Covers has reported on how Missourians travel to surrounding states to bet legally.
“Missouri residents spending their money in Illinois and Kansas specifically, (plus) Iowa, Arkansas, every state but Oklahoma, has sports books that border Missouri,” he noted. “The idea is trying to corral that and keep those tax dollars in the state of Missouri.”
There are also groups, like Missourians Against the Deceptive Online Gambling Amendment, that have spoken publicly about how the measure wouldn’t benefit residents.
“Amendment 2 is a bad deal for Missouri. This deceptive measure was written by and for the financial benefit of its out-of-state corporate sponsors and funders,” said Brooke Foster, a spokesperson for Missourians Against the Deceptive Online Gambling Amendment.
