Is it possible to see a Missouri sports betting market in the near future? Legislators certainly hope so, as Senators continue to propose bills aiming to legalize sports betting in the state. Anyone who wants to become a bookie goes in for the potential to earn a lot, and some Missouri senators want to do the same. If sports betting in Missouri is to be legalized, the state can earn millions in tax collections from sportsbooks each year.
Senator Tony Luetkemeyer has pre-filed SB30, which aims to legalize sports betting. Meanwhile, Senator Danny Hoskins also pre-files another bill, SB1, which aims to legalize both sports betting and VLTs. These bills are pre-filed for the 2023 legislative session. SB30 has a few key revisions to previous bills on sports betting filed. One, would be to increase tax from 8% to 10%. The bill also removes the topic of VLTs.
The Possibility of Missouri Sports Betting is Still Unclear
Last session, VLTs were a bit of a controversial topic, which is why SB30 removes the topic altogether. Passing a bill focusing solely on sports betting could have a higher chance of passing. The bill also talks about eSports betting, one of the fastest-growing products in sports betting, especially for a younger customer base. And if you manage a pay per head sportsbooks, you know how much you can earn from eSports betting in your sportsbook business.
However, SB1 combines VLTs with sports betting, but has changes from the previous failed bill. This one increases the funding for problem gambling services. It also calls for a $300 annual fee for VLTs with a 36% tax rate. Meanwhile, retail betting will be allowed at state casinos. These casinos can partner with up to two mobile betting licenses with a 10% tax rate. The scope is not detailed much, but many are hoping that it will include a wide variety of betting products that you commonly see in a PPH service.