Missourians get a chance to weigh in on whether they want to become the 39th state to legalize domestic sports betting at the ballot box this November 5th.
A simple majority is required for Amendment 2 in order for MO sports betting to pass, and recent polling data suggests that 52% of local voters are in favor of domestic sportsbooks. A similar bill failed in 2022.
Oklahoma is the only state that borders MO that doesn’t offer domestic sports betting of any kind. That’s important because currently, locals in Missouri can travel over the state line and place a bet. In most cases, that wager can be placed using a mobile sportsbook app as soon as the border is crossed.
The creation of MO sportsbooks would curb any appetite for travel into neighborning states. The presence of state-regulated books will also cut into the money being sent to offshore sports betting sites that operate overseas and allow Missourians to join as members.
Sports Betting Tax Rate
The tax imposed on sports betting revenue will be set at 10%. However, due to numerous exemptions allowed in the sports betting bill’s language, the amount of money the state takes in will certainly be lower than that.
Kansas has similarly structured sports betting laws, and at least one domestic sportsbook has yet to pay any taxes in 2024 because of these operational exemptions. Furthermore, books can apply monies towards these exemptions as they please.
Most exepmptions are applied to promotional dollars that are offered to members as sportsbook bonuses. Much of these dollars can be written off if won and withdrawn by customers.
What Can Be Wagered On?
Bets can be placed on all professional sports of note happening worldwide. The same is true for most major NCAA athletics with one exception – proposition wagers.
There will be no prop bets allowed on all college sports. Some states have opted to outlaw wagers on in-state games, but MO lawmakers have decided to ban props on all NCAA contests, leaving game lines for out-of-state and local teams on the table.
Support And Opposition
An opposition group calling themselves Missourians Against Deceptive Online Gambling has come out against Amendment 2. The group is funded by massive donations coming from the area’s three Caesars’ casinos, whose opposition appears to be largely techinical and based around the number of licenses per operator.
“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,”
Brooke Foster – Spokesperson for Missourians Against the Deceptive Online Gambling
Support for Amendment 2 is centered around the group Winning for Missouri Education. Funding has been sourced from out of state vendors like Fanduel and DraftKings, who have reportedly given over $20 million to date.
There is also strong support for Amendment 2 from Missouri’s professional sports franchises.