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Missouri Sports Betting Ballot Measure Approved By Voters

blairl95558451 edited this page 2024-12-31 21:47:42 -08:00

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Missouri citizens authorized legal mobile and retail sports betting wagering, allowing regulated books to take bets next year.

The sports betting ballot step gone by a slim majority early Wednesday early morning after more than 2.9 million votes were counted.

Seven of the eight states surrounding Missouri enable mobile or retail sportsbooks. That consists of Kansas and Illinois, which split the Kansas City and St. Louis city areas with Missouri, respectively.

Missouri is the 39th state to authorize legal sportsbooks and the 31st to green light statewide mobile wagering. It is the only state to authorize sports betting this year.

" Missouri has some of the finest sports betting fans worldwide and they showed up huge for their favorite groups on Election Day," Bill DeWitt III, president of the St. Louis Cardinals, stated in a declaration. "On behalf of all six of Missouri's professional sports betting franchises, we wish to thank the Missouri citizens who made their voices heard by authorizing Amendment 2. This historic vote makes Missouri the 39th state to legislate sports betting wagering and ensures we no longer lose valuable tax revenue to our surrounding states. Most significantly, the passage of Amendment 2 implies a brand-new, dedicated, irreversible financing stream for Missouri classrooms."

Missouri sports betting wagering next steps

Voter approval implies approximately 14 mobile sportsbooks might begin accepting bets next year. It is not likely all 14 offered licenses are used.
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DraftKings and FanDuel funded almost every dollar of the "yes" campaign and will certainly apply to take bets in the Show Me State. They will likely each pursue the 2 "untethered" licenses offered without needing to partner with a Missouri brick-and-mortar casino or sports betting team (and pay an accompanying fee).

Six licenses are offered to each Missouri gambling establishment operator, respectively. Caesars, in spite of opposing the ballot procedure, will likely utilize its license to launch the Caesars mobile sportsbook. Penn Entertainment, which Bet, and Bally's (Bally Bet) will also likely introduce their particular books.

The other 3 operators are Boyd Gaming, Century Casino, and Affinity Interactive. It remains unclear if they will introduce mobile sportsbooks.

The staying six licenses are booked for each of the major professional sports betting teams that play home games in Missouri: MLB's Kansas City Royals and Cardinals, the NFL's Kansas City Chiefs, NHL's St. Louis Blues, MLS' St. Louis City SC and the NWSL's Kansas City Current. The sports betting companies were among the most prominent advocates of the tally procedure.

Along with DraftKings, FanDuel and Caesars, Missouri bettors should expect other leading national brands including BetMGM, bet365, BetRivers and Fanatics to seek market gain access to.

Launch probability tiers IF Missouri voters approve sports betting:

Guarantees: FanDuel, DraftKings Locks: BetMGM, Bally Bet Very likely: Fanatics, bet365, ESPN BET Are Already Live In Illinois, So Yeah(?): BetRivers, Hard Rock, Circa Opposed Referendum But Still Might: Caesars

Missouri's tally procedure allows every Missouri gambling establishment to open retail sportsbooks on their particular homes. Most if not all 13 casinos handled by the six casino operators are expected to open in-person wagering choices such as wagering kiosks and potentially committed, full-service sportsbooks.

The six sports betting teams can likewise open in-person sportsbooks within or adjacent to their respective home playing places. Missouri will join Illinois, Maryland, Arizona, Connecticut, and Washington, D.C. among jurisdictions that permit in-stadium retail sportsbooks.

The language around the ballot measure requires the first certified sportsbooks to begin accepting wagers by Dec. 1, 2025. Operators will likely deal with regulators to go live before kick-off of the fall 2025 football season, continually books' most financially rewarding time of the sports betting calendar.

Missouri sports betting wagering background

The effective Missouri sports betting project comes regardless of millions in financing opposing the step from among the state's largest gambling stakeholders.

Caesars spent countless dollars to defeat the measure. In most other states that connect online sports betting wagering with a state's brick-and-mortar casinos, an operator is approved a minimum of one license per handled residential or commercial property.

Because circumstance in Missouri, Caesars would be afforded a minimum of 3 possible licenses, one for each gambling establishment it handles. Instead, Caesars just has one. In states with the license-per-property design, companies can either open additional in-house books or, more typically, subcontract the license to a competitor that pays an accompanying cost in exchange.

FanDuel and DraftKings, which have roughly two-thirds of U.S. nationwide sports betting wagering deal with market share, might potentially have an upper hand on their competitors by making the set of untethered licenses. It remains to be seen which 2 books will make these slots, however the language around the tally measure would seem to prefer the two national market leaders.
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Polling previously in the year revealed the "yes" vote with a minor lead. Support efforts were strengthened by tens of millions spent by DraftKings and FanDuel.

A series of television and radio ads focused on the earnings legal sportsbooks would produce for Missouri public education. Opponents, moneyed mainly by Caesars, argued the fans' ads were deceptive and the 10s of millions of forecasted dollars raised would have a minimal impact in a state that currently spends billions on education every year.