The legislative session in Missouri set to end on May 13, and there is one big issue still hanging over the lawmakers. This state has been working to legalize sports betting for years, and there is one final push that is being made.
Senator Denny Hoskins actually introduced a new sports betting bill earlier this week, but it wasn’t long before he pulled it back off of the table. This deal was different from others that have been proposed as it did not discuss any video lottery terminals.
Hoskins believed that his bill would gain plenty of support, but casino owners were not on board with his proposal. There is another bill, House Bill 2502 that might be the one that generates the most support.
With so little time left before the legislative ends, there is not going to be much room for debate about HB 2502 moving forward. The bill that is currently on the table has plenty of information in it, and it would set up a highly competitive sports betting market.
According to the bill proposed by Dan Houx, both retail and online sports betting would be available in Missouri. The 13 casinos in Missouri would be able to offer retail betting and there would be close to 40 online skins split between casinos and professional sports teams.
Most of the lawmakers in Missouri have supported that style of sports betting, but there is still some debate about the tax rate that would be imposed. The current proposal comes with a 10% tax rate for all sports betting licenses, but some want to see that number increased.
Legislators in Missouri continue to be optimistic that a deal will get done, but there is still plenty of work before anything becomes official.
Pro Teams Making a Push
Not only are lawmakers and casino owners trying to get sports betting approved, but professional sports teams in the state are as well. That group would include the St. Louis Blues and Cardinals, and the Kansas City Chiefs and Royals.
These professional sports teams would be offered an online skin and they could then partner with an online sports betting company. Revenue could be generated through this partnership, and it could help these teams be more competitive.
Missouri Has to Match Kansas
There is now more pressure on Missouri lawmakers than ever after Kansas just recently legalized sports betting. Kansas and Missouri share a border, and they also share a couple of the professional sports teams in Kansas City.
A portion of the Kansas sports betting revenue will go into a fund that will then be used to lure teams to the state. Missouri can’t afford to lose the Chiefs or Royals, and lawmakers have to act fast to get a bill passed.
Even though Kansas was the first to pass a bill, Missouri would become a much larger market if this became a legal gambling option.