Missouri’s 2023 legislative session is about to begin and legal sports betting is on the agenda. The Show Me State failed to launch sports betting in 2022, being beaten by their neighbors in Kansas. The appetite for sports betting in Missouri was apparent with the Kansas launch as multiple residents attempted to wager from across the border. Now lawmakers are motivated to bring sportsbooks to Missouri.
Sports Betting Focus At Missouri Session
Missouri already has a sports gambling bill, HB 4, that was presented during the 2022 session. This bill was pushed during a special session in an attempt to launch sports betting following Kansas’ launch. The measure failed to pass in time but is expected to be deliberated on in 2023.
Missouri is missing out on potential millions in tax dollars according to experts. Looking at the Kansas sports betting market as an example, residents wagered 2.6 million bets during the first two weeks of activity. Tax revenue saw a bump of more than $8 million as a result of sports betting.
Thousands of Missourians are estimated to have crossed the border and wagered on sports since Kansas’ launch. Missouri does not wish to continue to lag behind in sports betting.
Will Missouri’s Bill Pass?
There is a lot of support for sports betting in Missouri, even from Governor Mike Parsons. HB 4 would tax sportsbooks 10 percent on revenue from sportsbooks which is a standard most lawmakers are in support of.
Additionally, pro teams are also in support of sports betting. In the case of the Kansas City Chiefs, there is a risk that the team could relocate to Kansas from Missouri due to the lack of sports betting. This is added motivation for legislators
The Show Me State does not wish to go another year without an active market. The likelihood of sports betting passing is high. Locals will have to wait and see how the session unfolds.