- A new bill to legalize sports betting is moving quickly through the House and is favored to pass.
- The bill would use lottery-style machines to offer wagers on sporting events to the residents of Missouri.
- The proposal would have operators pay both an integrity fee and a fee for official league data to sports organizations.
JEFFERSON CITY, Mo. – On Monday, a sports betting bill in Missouri was voted to move to the House floor. The bill was heard by the House Special Committee on Government Oversight where members were in favor of the proposal 5-1.
Now it will go on to the Committee on Rules-Legislative Oversight for further voting.
The Bill On The Floor
With multiple bills drawn up to legalize wagering on sporting events, it was MO HB 2088 that broke on through to the other side. Representative Dan Shaul (R- Imperial) is its sponsor.
The bill would use the lottery terminal style machines found at rest stops and gas stations to offer sports betting at multiple locations.
“People are using these machines at a high rate,” said Shaul. “I think it’s time we give them what they expect to get out of it.”
Under the bill, lottery machines would be controlled. Currently, they are not under any set regulations and some believe they’re not legal. However, due to the gray area, they are still in use.
Estimates from Shaul show $100 million in annual revenue coming from sports betting and $250-300 million in revenue streaming from lottery machine usage in total.
The Data From The Missouri Sports Betting Bill
There is a 9% tax rate on all revenue for sports betting stated in the bill. In addition to the taxes, there is also an integrity fee paid to the leagues in the amount of 0.25% on the handle.
Operators must also purchase official league data for live in-game bets from the leagues as well.
Administrative fees will be $50,000 annually with an added $10,000 every five years for “reinvestigation of certification.” To apply for a license, the application fee is $25,000. Internet and mobile wagers would require sports bettors to be within state lines to use these platforms.
The sports betting age is set at 21 under MO HB 2088.
The Missouri State Lottery Commission would be allowed to create games based on the results of sports matchups as is written in the bill. Both professional and collegiate teams are open for wagers in the state.
While the measuring is moving forward within the House, there is no scheduled hearing on the calendar for the next step toward legalization. Wagering on sporting events in the Show-Me State could happen in 2020 as the odds are favorable.
If this bill comes to pass, sports bettors will be allowed to dub Missouri the Show-Me The Money State.
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.