If we were to bet on whether the Missouri sports betting bill will pass the Senate this year or not, we will probably be very, very wary on betting on the affirmative. With less than two weeks left in the 2022 legislative session, the odds of the Senate passing the sports betting bill is getting lower and lower. If the bill fails this year, then residents of Missouri will not be able to enjoy the same benefits that people from other states with legal sports betting have. If we do cross our fingers and hope for a passing vote, then the payoff would be great, especially for Missouri residents.
Across the country, more and more states are legalizing sports betting. Many operators are offering retail sports betting, online wagering through a sportsbook sports betting software, or both. The House bill that proposes to legalize sports betting in Missouri plans to offer both options to residents. However, the details on sports betting and gambling seems a bit murky in the Senate, where they cannot seem to agree on matters such as scope, tax percentage, and more.
Missouri Sports Betting Bill
March in March, the Missouri House passed legislation to allow anyone 21 or older to place sports bets either online through a sports betting platform, or in other sports venues as well as casinos. The bill allows sports betting for both collegiate and professional sports events. There will be an 8% tax on wagers. The Senate’s version wants a 10% tax on wagers. It also includes terms on other gambling products, such as video lottery games. Since the topic of video lottery games is a point of contention in the Senate, Senator Mike Bernskoetter proposed to amend the bill and remove the part on slot machines.
The pressure is also mounting since Kansas recently passed a bill to legalize sports betting. This means that all states surrounding Missouri now offers sports betting. And given the unique geography of Missouri and Kansas, residents may find it easier to just go to Kansas and place wagers. In addition, the addition of sports betting in the state also allows for more employment, tax revenues, and the like, which the state could benefit from. The Senate will have until 6:00 PM on May 13 to pass the bill and submit the bill to the Governor’s office.