Missouri is one of the many states hoping that legalized sports betting will help them with their budget shortfall in 2021. Legalized sports betting has spread across the United States since the Supreme Court repealed PASPA 1992 in May 2018. Since then, 19 states have launched legalized sports betting markets.
Now, three senators from Missouri are pushing hard for legalized sports betting, saying that it could potentially bring in $50 million in revenue.
Sen. Denny Hoskins (R-Warrenburg) says he has been talking to many Missouri residents about their gambling habits. He says that many of them are using illegal apps to wager on their favorite sports or simply going over the state line to wager in the neighboring state. That is why he will be leading the charge in the upcoming 2021 legislative session to get sports betting legalized.
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If it becomes a reality, the state would join the 26 other states that have legalized sports betting. He has already pre-filed SB 18, the bill that would allow for legal sports betting in the state. In simple terms, the bill will allow anyone to make a sports wager at a local casino or through an online betting app.
As for where the gaming revenue will go, the Missouri Constitution indicates that it should all go to the state’s education budget. Under Hoskins’ bill, a nine percent tax will be placed on the earnings from sports betting. Additionally, there will be administrative fees that operators have to pay. That should cover the running of the Missouri Gaming Commission, which will regulate all licensed sportsbooks in the state.
Hoskins’ bill already garnered some support. Sen. Tony Luetkemeyer (R-Parkville) filed a similar bill in SB 217. The main difference between these two bills is that Luetkemeyer’ bill has some added protections for the gamblers. Luetkemeyer is supporting the push for legal sports betting because he says the state is losing out on a lot of betting revenue to neighboring states which could be going to assist local schools.
He also points out that the state government is looking at an uncertain budget because of COVID. If the state can’t find an alternate source of revenue, there might be a tax hike in the future.
The final bill that pushes for legal sports betting is SB 256 from Senate Majority Floor Leader Caleb Rowden. The main difference is that this bill is asking for higher fees from betting operators. Between these three bills, one of them should be able to get the necessary approval in 2021.
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