A new measure is being backed by professional sports teams in Missouri has advanced to the full House, bringing the state closer to legal sports betting than ever before.
The proposal, which is the result of a collaboration between the St. Louis Cardinals and others, emerged with a 4 – 2 vote from the House Special Committee on Public Policy.
It is believed that sports betting could bring nearly $100 million in revenue to the state, as well as $11 million to local governments if the proposal is successful.
Gambling expansion will also bring in funds to sports teams, casinos and betting platforms.
Key features of the Missouri sports betting proposal:
- The 13 casinos in the state will be allowed to offer sports betting.
- Betting on college sports will be allowed, but not on high school athletic events.
- Professional sports teams will be allowed to allow betting at their stadiums through partnerships with established sportsbooks such as DraftKings and FanDuel.
Up until now, the question of gambling expansion has been stalled because of the problem of the controversial subject of video lottery terminal legalization. For the first time, this debate is being kept separate from gambling expansion plans.
“To have this legislation stand on its own, with VLTs debated on a separate track, we feel that we have the best chance of getting something done this year,” said Cardinals President William DeWitt III.