Sports Betting coming to Missouri

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One of the state senators of Missouri has recently introduced a bill which aims to legalize sports gambling in the state. The Senate bill 44 has been pre-filed for the session in 2019 by senator Denny Hoskin. This will modify the existing gambling laws in the state to include sports wagering as well.

There were similar drafts submitted earlier, but they did not make much progress in the state legislature. However, a recent Supreme Court decision that lifted the federal ban on sports gambling might change the outcome this time. As reported by the St. Louis Post-Dispatch, senator Denny Hoskin estimates that legal sports betting will bring in close to $18 million to $40 million of revenue for the state of Missouri. The bill that has been proposed for 2019 will legalize regulated sports betting and the gambling will be restricted to excursion gambling boats. Bets will be allowed in-person on the excursion boats which are licensed facilities, or they can also be placed online through a platform which will require an in-person account at the registered facilities.

A tax of 12% has been proposed on the adjusted gross receipts which are received from wagers on sports teams. There will also be an additional 2% deduction in the form of administration fee which will be transferred to the Veterans’ Commission Capital Improvement Trust Fund. 0.5% on the gross amount wagered will be collected by the government every quarter for establishing an Entertainment Facilities Infrastructure Fund which will be used for building public convention centers, multipurpose sports and entertainment locations, venues for live shows and other similar applications. Sport betting operators will be issued a license by the government who have to now pay $10,000 as applications fees and $5000 for the annual renewal of the license.

The bill also gives the Missouri Gaming Commission the rights to decide the rules and regulations for advertisements. One of the set regulations requires the operator to disclose their identity and information related to gambling addiction.  Any kind of misleading or deceptive information or content that targets minors are strictly not allowed. Operators are required to conduct background checks on all of their employees and maintain a record of collected data during security operations. All the bets placed must be recorded including the identity of the better and the amount that has been wagered. Governor Mike Paterson will not be pushing for this bill neither will he vehemently oppose it.

 

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