Missouri pushes for sports betting legalization with bills

Missouri is taking a deep breath before it plunges into the legislative depths of sports gambling regulation. The matter, a long-standing issue in the Show-Me State, could gain some traction and find a positive resolution this year, although this would depend on how lawmakers approach the two proposed sports betting bills that have been filed at the beginning of the session.

Senate Bill 852 and Senate Bill 824 both seek to introduce sports gambling in the state, citing concerns about the black market and neighboring states that are already embracing the activity, but also warning of the missed economic opportunity the state is currently subject to owing to old-fashioned perceptions of the industry.

Both bills agree that the state’s riverboats, created as a way to circumnavigate opposition to gambling and appease hawkish lawmakers, would have to carry the load. SB852 steps forward outlining a future in which the 13 riverboat casinos would host a total of 39 brands, providing there are sufficient licenses. The efforts focus on online gambling, and a licensing fee of $100,000 would be charged under the bill.

There would be a renewable annual fee of $125,000 as well as $150,000 to apply for consideration for the original license. The tax outlined by the bill is to be set at 12% of the operator’s gross gambling revenues, and the bill exclusively prohibits vulnerable individuals and problem gamblers from being allowed onto the premises or digital platforms.

Sports gambling conducted over the Internet at any of the would-be Missouri operators could only happen if a person is physically located in the state.

The twin bill, SB824 ploughs a similar furrow, outlining a future in which riverboat casinos would indeed host the sportsbooks, three each, and also be charged 10% of their gross gaming revenue, slightly less. The application fee would not exceed $150,000 and a renewal fee would not exceed $125,000, the bill argues.

Yet, the bill then takes a bit of a detour and starts talking about video lottery terminals and legalizing those as it sees them as an important part of the further legalization efforts in the state and a bid to plug the hole of black market operations.

These lottery terminals are expected to be housed out of veterans organizations, trick-stop, or fraternal organizations, with the cap per property set at eight such properties. This tangent could make SB824 the harder of the two to garner support and advance in the legislative session, however.

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