A Missouri sports betting bill has cleared the House, and it’s now on its way to the Senate. This is a big step towards legalized sports betting after years of making no progress or efforts being shut down without putting up a fight.
Who and What Entities are Backing HB 2502
The state’s House easily passed HB 2502 by a count of 115-33 on Thursday after representatives advanced the bill the day before. Rep. Dan Houx is the one who sponsored the bill as it is gaining traction. The bill is backed by casinos, professional sports franchises, and major sportsbook operators.
Representatives will have other sports betting measures to consider in the Senate. Those involved expect the path through the Senate to be more difficult as committee discussions have already been taking place earlier this month about three separate sports betting bills.
Legislators in the chamber are split between two bills. Under an amendment sponsored by Rep. Wes Rogers, the tax rate listed on the bill would be dropped from ten percent to eight percent. The reason is to have a tax rate below Kansas’ proposed number.
On the other hand, Sen. Denny Hoskins’ bill would have a tax rate of 21 percent, which is what the casinos pay based on revenue to operate in the Show-Me State. If the bill is legalized, the coalition of six casinos that operate 13 riverboat casinos would create 39 online skins.
The six casinos would receive 33 skins, while the state’s six professional sports organizations would each receive one to operate. The sports venues across the state can have sports betting lounges inside but no betting windows or kiosks.
What to Expect and What the Legislation Knows About Missouri’s Sports Betting Push
Before Wednesday’s debates, fiscal notes prepared for the bills suggest that residents in the state could wager approximately $150 million annually on various sporting events throughout the year. During the House committee hearings, Boyd Gaming was the lone casino operator in the state that was opposed to the bill.
Wednesday’s session is where a lot of concerns were brought up. The one that had several lawmakers worried was about how the rule can limit competition in the market, making it a high-barrier state.
During the debate, the House added provisions about the problems that could occur once a legalized sports betting market is established. Rep. Ben Baker sponsored an amendment that would provide gambling problem services.
Research must be done annually to see how devastating the problem is to those residing in Missouri and how affecting these gambling addiction recovery services are. A gambling hotline number must also be provided on all promotional materials.
Baker stated;
“There will be an increase in problem gambling, both for new individuals coming into this utilizing the platforms with sports wagering and those that are currently struggling.”
States that Border Missouri Have Legalized Sports Betting or are in the Process
The sports betting industry continues to grow as April approaches. Illinois has already become a prominent destination in the industry, and the state’s handle will most likely only grow larger as time goes by. Illinois has eliminated the rule that made residents go to casinos to register to use mobile sportsbooks.
The issue with that was some people don’t live near casinos or would have to drive across the state to register for the sportsbook they wanted to use. On Wednesday, DraftKings announced a new retail sportsbook at Casino Queen in East St. Louis, Illinois.
Recently Arkansas expanded two allow mobile sports betting as one casino has its own platform. The other casinos will launch their products very soon.
Iowa also got rid of the rule Illinois had in regards to in-person registration to begin the year. Now, it has become an even stronger market.
Kansas has also been pushing for sports betting, but Missouri lawmakers seem like they want sports betting more. If one of the two legalized sports betting first, the other will most likely follow in short order.