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Missouri Amendment 2 is adopted. When can you bet on sports?

Jasper
Missouri Amendment 2 is adopted. When can you bet on sports?

Missouri became the 39th state to legalize sports betting with the approval of Amendment 2, while the United States has seen a surge in legalized gambling.

The amendment was passed with a narrow majority. According to unofficial final results from the Secretary of State’s Office, a statewide margin of 7,486 votes out of 2.9 million made the difference.

“Missouri has some of the best sports fans in the world and they showed up for their favorite teams on Election Day,” St. Louis Cardinals president Bill DeWitt III said in a statement Wednesday.

Until 2018, Nevada was the only state that allowed sports betting. After a U.S. Supreme Court ruling this year, more than half of the states and the District of Columbia have legalized it in some form, giving the American sports betting industry a record $10.92 billion in revenue in 2023, according to the American Gaming Association’s annual report US dollars provided. Most of Missouri’s neighboring states allow gambling in athletics.

When can you bet on sports in Missouri?

After legalization, in most cases it takes a few months to reach the market.

According to the Missouri Independent, the change directs the Missouri Gaming Commission to make sports betting available by December 1, 2025.

Where can you bet on sports in Missouri?

Amendment 2 will allow the Missouri Gaming Commission to regulate licensed sports betting, including online sports betting, gambling boats, professional sports betting districts and mobile sports betting operator licenses.

Notably, DraftKings and FanDuel contributed more than $14 million to the Winning for Missouri Education campaign in support of the change.

It is likely that the two will receive licenses in the future alongside other online sportsbooks such as BetMGM, ESPN Bet, Caesars Sportsbook and others.

How old do you have to be to bet on sports in Missouri?

You must be at least 21 years old to place bets in Missouri.

What else is included in Amendment 2?

Amendment 2 allows licensing fees mandated by the Missouri Gaming Commission and a 10% betting tax on revenue received to be used for education, after deducting expenses borne by the commission, which require funding from the Compulsive Gambling Prevention Fund.

Under the ballot measure, state agencies estimate one-time costs of $660,000, ongoing annual costs of at least $5.2 million and initial royalty revenues of $11.75 million. The companies also expect unknown tax revenue of $0 million to $28.9 million per year because the proposal allows deductions from sports gaming revenue. Local governments estimate unknown revenue.

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