In the last few years, several States have been considering legalizing sports betting and Missouri just became one of them. Betting on sports is only legal in Nevada, Oregon, Delaware and Montana and several states are trying to change that. The latest State to join the bandwagon is Missouri with State Bill 1009. This bill would Legalize Sports Betting in Missouri if the U.S. Supreme court rules that the Professional and Amateur Sports Protection Act as unconstitutional.
Bill 1009 which is sponsored by Missouri Senator Caleb Rowden was introduced on February 19, 2018 and would legalize sports betting in Missouri. They are currently 6 Bills that were introduced to the Missouri Legislation to legalize and regulate sports betting. These State Bills are: H2320, H2406, H2535, SB767,SB1009 and SB1013.
The Bill introduced by Sen. Rowden would make sports betting and online sports betting legal on professional sports.
“If they will rule in favor of the state, then states like Missouri could allow a vote in the state for legalizing sports betting. If the Supreme Court tries to go this route, then this is something that we might want to do in the state to bring in more revenue,” said Sen. Rowden.
More Revenue for Missouri and Professional Sports Organizations
The money earned from legalizing sports betting would go towards education and other needs. At the moment, SB 1009 is awaiting on a committee vote to see how it will go forward. According to Missouri Sen. Denny Hoskins, estimates that legalizing sports betting would generate $18 to $40 millions in new revenue for Missouri.
Sen. Hoskins is another advocate for legalized sports betting and the sponsor for Bill SB1013. This Bill would legalize sports betting on excursion gambling boats and also make internet betting legal.
One aspect of this bill which has several sportbook software provider interested is the section about the interactive sports betting platform licenses. This is because it would be subject to a 12% tax, a 2% administrative fee tax and a $10,000 application fee.
Professional sports organizations have also voiced their opinion on legalizing sports betting. The NBA and the MLB are both in support of any bill that would give them 1% from all bets. Professional sports organizations have taken a turn on how they feel about sports wagering. In the past, they were all anti-sports betting but today, the MLB is even an investor in DraftKings, a daily fantasy sports company.