Over 320,000 signatures have been collected as Missouri edges closer to finally legalizing sports betting in the Show-Me state.
In March, 100,000 of the minimum 180,000 signatures were collected to secure a place in November’s ballot. By the end of April, it is expected that close to 400,000 Missourians will have signed the petition.
The process of legalizing sports betting has garnered plenty of attention. In February, House Bill 2835 was introduced by Rep. Crystal Quade.
This will also seek to allow the legalization of slot machines across the state. With that said, individual counties will still be able to choose whether to permit them.
Missouri Sports Betting
Missouri sports betting is gaining traction thanks to the campaign that is in place via Winning for Missouri Education. Spokesperson Jack Cardetti said: “The tremendous support we’ve seen throughout the state is a testament to Missourians’ readiness to bring sports betting revenue home and support our local schools, students, and teachers in the process.”
Missouri is one of 12 American states which hasn’t yet legalized sports betting. However, the Kansas City Chiefs, Kansas City Current, Kansas City Royals, St. Louis Cardinals, St. Louis Blues and St. Louis City are all in favor of making sports betting legal.
Regulated sports betting in the state will now likely be decided by voters at the end of 2024. Reflecting on Cardetti’s quotes, millions of dollars would go back into the state treasury to support public education via taxes collected from sports betting.
HB 2835 would see sports betting be regulated by the Missouri Gaming Commission. Adjusted gross receipts generated by licensed operators taxed at a 10% rate. Application fees from licensed operators are expected to cost $150,000. Gambling boats will cost $100,000 and the yearly renewals are priced at $10,000.
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