Missouri House Approves Sports Betting Bill
The fight for legalized sports betting in Missouri cleared a significant hurdle Thursday. The Missouri House gave preliminary approval to bring legal sports betting to the state.
HB2502, also known as the “sports wagering bill,†passed with 115 yes votes, 33 no votes, six vacancies, and nine absent Thursday. In its current form, the plan calls for an 8% tax on wagers that would generate approximately $10 million a year based on the analysis presented by the house. Previous proposals included a 21% tax, which could generate more than $160 million in tax revenue.
Missouri’s 13 casinos and six professional sports teams would receive sports betting licenses as part of the bill. Bettors would also be able to place wagers on their mobile devices via apps like FanDuel, DraftKings, BetMGM, and others.
What Comes Next?
The bill passed through the House but could face significant obstacles in the Senate. Arizona Cardinals Bill DeWitt III said the team is “very pleased to see the progress with the proposed sports gaming bill†and remains “hopeful and cautiously optimistic for continued progress in the House and also in the Missouri Senate.â€
The Missouri Senate adjourns for the season May 13. That gives the Senate and House just under seven weeks to see if they can come to an agreement. Both chambers must pass identical versions of the bill before it can be signed into law by Missouri Governor Mike Parson.
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Mike Maher is an editor and content manager at FantasyPros and BettingPros. For more from Mike, check out his archive, follow him on Twitter @MikeMaher, and visit his Philadelphia Eagles blog, The Birds Blitz.