Missouri sports activities betting efforts have failed in every state legislative session for the reason that US Supreme Courtroom in 2018 repealed the sports activities playing federal ban and gave such powers to particular person states. 4 years later, Missouri is barely now transferring nearer to becoming a member of the greater than 30 different states in legalizing sports activities wagering.
The Scout Statue surveys the Kansas Metropolis panorama with the town within the background. Missouri sports activities betting may quickly be on the way in which, as a invoice to authorize such playing continues to make progress in Jefferson Metropolis. (Picture: Shutterstock)
Thirty-two states have handed legal guidelines authorizing sports activities betting. 5 share borders with Missouri — Iowa, Illinois, Tennessee, Arkansas, and Nebraska.
Home Invoice 2502 would convey Missouri into the authorized sports activities betting market. The laws was authored by Rep. Dan Houx (R-Warrensburg).
HB 2502 handed the Missouri Home of Representatives in March. The decrease chamber signed off on the gaming growth statute by an awesome 115-33 vote.
The Senate Governmental Affairs and Fiscal Oversight Committee yesterday accredited the sports activities betting invoice and superior the statute to the total Senate ground. The laws shall be learn and debated as early as this week.
Invoice Scope
HB 2502 would enable Missouri’s 13 riverboat casinos to include sportsbooks into their services. The laws would additionally enable the casinos to function cell sports activities betting for gamblers bodily situated throughout the state.
The newest model of HB 2502 handed by the Senate committee suggests an 8% tax on sports activities betting income. Not like most different states with retail and cell sports activities betting and tax every wagering avenue otherwise — with cell income sometimes increased — Missouri’s sports activities betting invoice presently levies the identical 8% tax.
The primary $500,000 in tax income generated from sports activities betting could be allotted to the Missouri Compulsive Gamblers Fund. The remaining cash could be put aside for public training.
Houx celebrated HB 2502’s development to the total Senate full. The Republican lawmaker says Missouri can’t be final within the sports activities betting sport and added that the state is already lacking out on substantial tax income.
With authorized betting remaining prohibited in Missouri, many state residents have pushed right into a neighboring state that gives regulated on-line sports activities betting. 4 neighboring sports activities betting states enable web sports activities wagering — Iowa, Illinois, Tennessee, and Arkansas.
Houx mentioned that throughout the February Tremendous Bowl, there have been 3.9 million bets positioned inside 10 miles of the Missouri border in these 4 states. His sports activities betting invoice would enable for wagering on skilled and collegiate sports activities, together with video games involving Missouri-based universities and faculties.
Greater Tax Focus of Debate
Houx’s legislative colleagues in Jefferson Metropolis have mentioned that an 8% sports activities betting tax are far too low. State fiscal estimates mission that authorized sports activities betting at such a fee would solely generate about $10 million a yr in new tax income.
This week, Sen. Denny Hoskins (R-Warrensburg) informed the Columbia Missourian that he believes the state ought to spend round $4 million to $5 million yearly to adequately deal with compulsive playing. Presently, Missouri dedicates solely $250,000 a yr from on line casino taxes to drawback playing applications.
Houx clarified that he’s open to a better sports activities betting tax. His unique model of HB 2502 referred to as for a ten% tax, however that fee was dropped two factors amid Home discussions.
Of the 32 states which have legalized sports activities betting, the median tax fee — inclusive of retail and cell — is round 19%. The best is New York and Rhode Island at 51%. The bottom are Nevada and Iowa at 6.75%.
