What's at stake with Missouri Amendment 2
Nov 05, 2024
KANSAS CITY, Mo. -- Missouri is one of the 12 states that currently forbids sports betting. Amendment 2, which would legalize sports betting under the Missouri Constitution, would impose a 10% tax on revenue with the proceeds going toward education.
The Missouri Gaming Commission would oversee all authorized sports betting, including internet betting, gambling boats, and more, if the amendment is approved. Sports betting would only be available to Missouri residents who are at least 21 years old.
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The state government estimates unknown revenue of up to $28.9 million every year.
What would Amendment 2 do?
The amendment would allow the Missouri Gambling Commission to permit licensed organizations to provide sports betting to state residents at excursion gambling boats or any location within each sports district via online sports wagering platforms.
It would also permit license fees and a 10% wagering tax on earnings to be used for public education and higher education. Additionally, the funds would go toward research on compulsive gambling, the implementation of treatment and recovery programs, and services associated with compulsive gambling through the Compulsive Gambling Prevention Fund.
If it passes, those who wish to participate must be 21 years or older.
Sports wagering would be established in the state no later than Dec. 1, 2025.
Yes or no?
By voting “yes” on Amendment 2, the Missouri Constitution would be amended, allowing sports betting to be legal in the state. The initiative would restrict sports betting to individuals physically located in the state and over the age of 21. The amendment includes a 10% wagering tax on revenues received to be appropriated for educational institutions in Missouri.
By voting “no” on Amendment 2, the Missouri Constitution would not be amended, and sports betting would continue to be prohibited in Missouri.
For it
The Kansas City Chiefs, the Kansas City Royals and the Kansas City Current soccer teams support the initiative. Some opponents call the measure deceptive and point out that revenue for schools could be "$0 to $29 million annually."
Against it
A committee called Missourians Against Deceptive Online Gambling has come out against Amendment 2. It has taken in more than $4 million from Caesars and three of its Missouri casinos: the Isle of Capri in Boonville, the Horseshoe in St. Louis, and Harrah’s in the Kansas City metro.
Because the proposal allows for deductions against sports gaming revenues, state governmental entities don’t know how much revenue they’ll make from the amendment. The ballot title goes on to say it could range “from $0 to $28.9 million annually.” Local government estimates are unknown as well.