Missouri committee considers sports betting bill
A bill to legalize sports betting in Missouri is set to pass the state Legislature this week.
On Tuesday, the Missouri House Public Policy Select Committee will hold a hearing on the legislation HB 2331, hosted by Rep. Dan Houx (R-Warrensburg).
The legislation is one of several ongoing efforts to bring sports betting to Missouri, one of a dozen states where sports betting remains illegal. The bill would allow 13 riverboat casinos in the Show Me State to accept sports bets and allow mobile sportsbooks to accept bets from internet users in the state.
New analysis
Ahead of the hearing, legislative researchers released a detailed financial analysis of the proposal on Monday. If passed and fully implemented, legal sports betting would bring in about $7 million in new education funding in the first year, rising to $35 million by 2029, the analysis said.
The bill would impose a 10% tax on the adjusted gross receipts of sports betting operators, allowing operators to deduct promotional bets from this calculation. Tax relief on promotional bets will expire in four years.
State officials expect there will be 24 applicants for sports betting licenses, including 13 riverboat casinos, eight mobile sportsbooks and three licensees affiliated with professional sports districts.
Applying for a sports betting license requires a $100,000 pre-application fee, and operators must submit a responsible gaming plan.
Increase compulsory gambling fund
The bill also contains several provisions requiring operators and regulators to address anticipated issues related to compulsive gambling. The Missouri Gaming Commission and Department of Mental Health must prepare a report on the "neuroscience, psychology, sociology, epidemiology and etiology of compulsive gambling."
Regulators are expected to hire an outside contractor to conduct the study, which is expected to cost $500,000. The first report will be due by the end of 2025, with further reports every three years. The analysis said it was unclear whether the research funding would come from the Gambling Commission's regular budget or from the Compulsory Gamblers Fund.
The state Department of Mental Health says it will need 25 new compulsive gambling counselors next year, up from seven certified treatment providers currently. The agency's costs will exceed $227,000 in the next fiscal year and remain at similar levels over the next three years.
The bill would require an annual contribution of $500,000 to the state's Compulsory Gambler Fund, subject to statutory appropriations. This would be a significant increase compared to recent years. For fiscal year 2025, the Department of Mental Health is requesting approximately $153,000 for the fund. The fund had a balance of $102,884 as of Dec. 31, according to a legislative analysis.
Uncertain future
While sports betting has passed the Missouri House before and will do so again this year, the bill's chances of eventually becoming law lie on the other side of the Capitol, where similar bills have been introduced in recent years and have stalled . Still, state senators are trying again.
Senator Tony Luetkemeyer (R-Buchanan) filed SB852 earlier this month, which would take a similar approach to legalizing sports betting in the state but would impose a higher tax rate of 12%. Sports betting tax.
Meanwhile, Missouri's professional sports teams, including the St. Louis Cardinals, are pushing for a "ballot measure" that would let voters decide the fate of sports betting in the state.
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Source: www.casino.org
