- There are 14 states that have launched sports betting with six others in line to launch their new laws allowing residents to take part in this form of gambling.
- The Judiciary Committee in Missouri will be presented with a sports wagering bill on January 13 that hopes to legalize the pastime.
- The Show-Me State is home to the Kansas City Chiefs who are one game away from being in the Super Bowl.
JEFFERSON CITY, Mo. – According to state Senator Tony Luetkemeyer (R-Parkville), the state of Missouri could see sports betting legalization in 2020.
Luetkemeyer is an advocate for making the wagering on sporting events a legal activity. Arkansas and Iowa have permitted sports betting, and they neighbor the Show-Me State which could lead to them getting potential business from Missouri residents.
Luetkemeyer is the sponsor of MO SB754. Under his bill, both retail and internet/mobile sports betting would be legal. The lounges for the activity would be an extension of the casinos that already inhabit the state.
The activity would be regulated by the Missouri Gaming Commission with a 0.75% handle being given to the professional organizations and a 6.25% tax on all gross revenue.
“My legislation makes sure people are not placing illegal bets in Missouri — we know that’s happening,” said Luetkemeyer. “It also allows the state to generate more revenue by making it legal.”
Luetkemeyer goes on to say that while placing wagers on sports is illegal, it is well known to be something that is going on with the people of Missouri. Whether it’s through the use of black-market outlets or offshore sportsbooks, bettors in MO are continuing to wager on sports. And this is all money that could be used toward the state if the activity was legalized.
— Tony Luetkemeyer (@TonyForMissouri) January 13, 2020
One of those bills is MO SB754, for making gambling on sports legal. He believes that this bill has gained the most traction when compared to all of his past sports betting bill proposals.
With Missouri being home to the Kansas City Chiefs, who have just clinched their invitation to the AFC Conference title game, now is the perfect time to introduce a bill that involves making sports betting legal.
The performance of the state’s NFL team only highlights what legal sports wagering could do for the economy.
Experts of the gambling market estimate that Missouri could see upwards of $289 million bet on sporting events annually if the hobby became legal. That money would result in an alternate source of revenue for the state to use for whatever they’d like.
Hopefully, Luetkemeyer will be able to have his voice heard when he presents his bill to the committee. After a big Chiefs win, state lawmakers may better see how eager local residents are to bet on the state’s home teams.
Christina has been writing for as long as she can remember and does dedicated research on the newly regulated sports betting market. She comes from a family of sports lovers that engage in friendly bets from time to time. During the winter months, you can find Christina baking cookies and beating the entire staff at Mario Kart…the N64 version of course.