By approving Amendment 2, Missouri became the 39th US state to legalise sports betting, although it was a narrow decision.
The midwestern state has recently voted on a proposal to fully legalise all forms of sports betting, including online sportsbooks and mobile sports betting, allowing persons of legal age (21 and up) to freely bet on sports. Voting was concluded on 5 November and the amendment came to pass with just half a percent margin.
This news was received with much enthusiasm from Bill DeWitt III, the president of the St. Louis Cardinals:
Missouri has some of the best sports fans in the world and they showed up big for their favorite teams on Election Day.
Overall, the reception was very good, and the history of betting in the United States has been rewritten again, allowing more sports fans to legally - and safely - bet on their favourite teams.
When Will Legal Betting Start in Missouri?
Since this is a freshly approved amendment, it will take some time for it to truly go into effect. While the amendments can be passed into constitutional laws in 30 days according to the Missouri laws, the reality is that the market will not be as fast.
The earliest date when Missourians may start betting on sports is 5 December and the Missouri Gaming Commission has until 1 December 2025 to make sports betting available to its citizens. Analysts believe that FanDuel and DraftKings, betting entities that have contributed the most to this push, will be the first to open their doors to new bettors, followed by ESPN Bet, Caesars Sportsbook, and BetMGM.
The Business Side of Things
Bookmakers looking into expanding to Missouri will see a 10% tax rate on their sports betting revenue, which is on the lower side and on par with Arizona, Colorado, and Kanzas, to name a few.
As a potential incentive, the state will offer deductions on promotional offers and federal taxes. The state of Missouri expects an initial revenue of $11.75 million from the first batch of licensees, followed by up to $28.9 million in annual revenue from sports betting. These extra funds will, among other things, go to the Compulsive Gambling Prevention Fund. It's projected that 98% of all sports bets in Missouri will be made via online sportsbooks.
We will, of course, keep you posted about new betting sites opening up their virtual doors to Missourians.
