ST. LOUIS – Missouri voters have approved Missouri Amendment 2, legalizing sports betting in the state, per the Missouri Secretary of State Office’s website.
Prior to Tuesday’s election, 38 states in the United States had legalized a sports wagering measure into their state constitutions. Missouri is set to become the 39th and largest state to legalize sports betting.
With the measure approved on the ballot, sports betting will be accessible to individuals physically located in the state and over the age of 21. The early estimate of year tax revenues for the state of Missouri is expected to reach nearly $29 million.
Under the approved amendment, the Missouri Gaming Commission will regulate sports wagering and provide licenses to institutions that will distribute betting through existing Missouri casino operators, online sports platforms like FanDuel and DraftKings, or professional sports teams like the Cardinals, Royals, Chiefs, and Blues.
The approved amendment establishes a $500,000 license application for betting institutions and five-year renewal fees plus a 10% tax on the licensees adjusted gross gaming revenues. License fees from the commission and a 10% wagering tax on revenues will be assessed to benefit education in Missouri and to fund the required Compulsive Gambling Prevention fund for those that get addicted to gambling.
The measure was a hot-button voting topic throughout Missouri ahead of the general election. In September, a Missouri judge allowed the initiative to remain on Missouri ballots after a lawsuit aimed to block the sports betting question from showing up on the ballot.
Although those in support of the amendment contended that the measure would bring more money to the state and bring ease to Missourians who cross the state borders to bet legally, groups like Missourians Against the Deceptive Online Gambling Amendment argued that the measure made false claims about the amount of tax revenue that will be generated back to support Missouri schools.