Missouri voters will decide whether sports betting will become legal in the “Show Me State.” The Missouri Independent and numerous other sources report that Amendment 2 will appear on the November 5 ballot.
If passed, retail and online sports betting would be legalized.
The ballot initiative comes after a coalition of Missouri professional sports franchises gathered over 340,000 petition signatures requesting the referendum. Sports betting could generate up to $28.9 million in revenue annually for the state.
However, it is not a slam dunk that the measure will pass. A poll back in May hints that voters may strike down the measure.
Key Highlights
- Missouri citizens will vote on an amendment to legalize sports betting on November 5th, 2024.
- Sports betting could bring in $28.9 million annually in taxes for Missouri schools.
- A May poll shows that voters may not be in favor of sports betting.
Missouri Voters to Decide Sports Betting on November 5th
On Tuesday, Secretary of State Jay Ashcroft’s office announced that Amendment 2 will appear on the November 5 ballot. The measure seeks to legalize retail and online sports betting.
Missouri is now just one step away from joining most other states in legalizing sports betting and being able to provide millions of dollars to Missouri classrooms.
– Bill DeWitt III, president of the St. Louis Cardinals
It is the result of a massive petition campaign from pro sports teams, state casinos, and online sportsbooks. FanDuel and DraftKings provided over $6.3 million in funding for the initiative. They will find out if their investment will pay off.
According to Bill DeWitt III, president of the St. Louis Cardinals, “Missouri is now just one step away from joining most other states in legalizing sports betting and being able to provide millions of dollars to Missouri classrooms. On behalf of all six of Missouri’s professional sports teams, I would like to thank everyone who signed a petition to get this on the ballot.”
Missouri’s six pro sports teams could offer branded sports betting platforms and exclusive rights to advertise in and near their stadiums. Online sportsbooks would also be allowed to apply for licenses and operate independently of the retail sportsbooks.
Legalizing sports betting would also keep sports betting dollars in the state.
Currently, fans are going into Kansas and Illinois to place legal wagers. According to campaign spokesman Jack Cardetti, “By keeping sports betting dollars in-state, we can invest in our students and communities and ensure a brighter future for Missouri.”
Taxes on sports betting will be 10% of net proceeds after promotions and costs. Organizers of the campaign anticipate that the state will earn up to $28.9 million annually, with that money going to support public education.
Will Voters Support the Measure?
While a ballot initiative is a positive move toward sports betting legislation in Missouri, it is not a slam dunk.
In May, an article from iGaming Business suggested that a sports betting referendum would fail. According to the article, private news source Missouri Scout conducted a survey in early May and found that sports betting does not have the necessary support to pass.
60% of those surveyed were against a sports betting amendment.
According to the poll, approximately 60% of those surveyed were against a sports betting amendment.
Only 36% were in favor, while 4% said they were undecided. The data was gathered by Remington Research Group for Missouri Scout from May 8 to 9, and 684 likely voters were polled.
Keep in mind that polls like this are highly subjective. It did not state pertinent data like the age range of voters, the political affiliations, and other factors that could weigh heavily on how voters will respond.
However, it shows that there may be enough of a gap to make the contest interesting.
My Prediction on the November Vote
Missouri is no stranger to gambling. There are currently 13 casinos throughout the state, and there’s also a state lottery. Despite this, the state is also considered conservative enough that a sports betting amendment could potentially fail.
However, I don’t believe this to be the case, and I think that the Kansas City Chiefs are going to be a big driving force in getting this measure passed.
Why? The Chiefs are in the middle of a dynasty, winning three of the last five Super Bowls.
They have arguably one of the greatest quarterbacks in history, and the franchise’s popularity is at an all-time high. I believe that fans wanting to get in on the betting actions of Chief games will help push voters to pass this initiative.
However, I think this will be a close vote with only a 5 to 10% margin deciding the issue.
Ultimately, I believe Missouri will be the 39th state to legalize sports betting in the United States. We will know for sure on November 5th.
Sources
https://missouriindependent.com/2024/08/13/sports-wagering-minimum-wage-hike-headed-for-november-vote-in-missouri/
https://missouriindependent.com/2023/11/07/players-in-missouri-gambling-debate-chase-stakes-worth-billions/
https://igamingbusiness.com/sports-betting/missouri-sports-betting-proposal-lacks-support/
