Missouri Senator Introduces Bill to Legalize Sports Betting
Missouri state senator, Denny Hoskins, has presented Senate Bill 44 that would authorize sports betting in the state. The document will adjust current gambling regulations to admit sportsbooks, since previous attempts to advance bills in the legislature failed.
However, the territory’s efforts to make a change happened before the U.S. Supreme Court lifted a federal ban on sports wagering and overturned the Professional and Amateur Sports Protection Act (PASPA) in May 2018.
According to Hoskins, estimated legal sports betting could cash in between $18 million and $40 million in revenue for the Show-Me state, depending on the taxes imposed on gross receipts.
Sportsbooks Limited To Gambling Boats Only?
Although it seems that the proposed legislation could make a sudden shift in gaming regulations, sports betting will be confined to ‘excursion gambling boats’ only. Nevertheless, the enactment includes in-person wagering at a licensed facility as well as placing bets online; players will be required to activate an account on an interactive platform before participating.
To launch a sportsbook, operators will have to pay a $10,000 application fee while the renewal costs additional $5,000. The state is planning a 12% tax on receipts received from wagers, plus an extra 2% as administrative fee which will be assigned to the Veterans’ Commission.
Finally, the state will collect another 0.5% on the gross amount every quarter and transfer it to the Entertainment Facilities Infrastructure Fund. The money will be used for building public convention centers, sports and leisure venues etc.
Missouri Updates Ads Policy
The Gaming Commission will also have to define rules for advertisements, due to the bill’s summary which says that commercials must “disclose the identity of the operator, provide information about resources relating to gambling addiction, [not be] false, misleading, or deceptive, and do not target minors or other ineligible individuals.”
Maintaining security is also one of the priorities and frequent background checks on employees as well as data during matches is compulsory. Operators are required to keep all records, especially bettor’s ID and the amount wagered.
One of the main supporters and sponsors of legalized sports betting in the state, republican representative, Dean Plocher, commented:
“I certainly anticipate it being out there for discussion before the House and the Senate.”
Still, governor Mike Parson, is not very keen on actively pushing the legislation; the official is rather interested in directing all betting proceeds to an educational fund, similarly how the lottery works.
“Sports betting eyed for Missouri”, Paul How, calvinayre.com, December 4, 2018.