Missouri Pinpoints Sports Betting Start Date — It’s Not What Bettors Hoped
State gaming officials had hoped to expedite the sports betting launch in Missouri, but it seems that won’t be happening as soon as expected.
The Missouri Gaming Commission (MGC) continues to field sports betting applications for the Show Me State’s forthcoming retail and online sports wagering market. However, a likely start date has been set, and it’s one bettors won’t be too happy about.
Missourians narrowly passed Amendment 2 during the 2024 election with a 50.05% majority. The ballot referendum amended the Missouri Constitution to add sports betting as a permissible form of commercial gambling.
The vote authorized two fully remote sportsbooks. Missouri’s sports betting law also allows each riverboat casino and professional sports stadium/arena to pursue in-person and online sports betting licenses.
Retail and online sportsbook applications tethered to a casino or sports venue are due by September 12.
Licensing Details
Physical sportsbook licenses cost $250K each, and mobile permits go for double that amount at $500K.
Oddsmakers will direct 10% of their gross sports betting win to the state. The first $5 million in state sports betting tax revenue collected each year will go to the Compulsive Gambling Prevention Fund. The remaining tax benefit will support K-12 and higher public education.
Missouri is bordered by eight states. When its sports betting market launches on December 1, it will join Arkansas, Illinois, Iowa, Kansas, Kentucky, Nebraska, and Tennessee in allowing some form of legal sports betting. Only Oklahoma shares a border with Missouri that continues to prohibit sports gambling.
Key Dates:
- May 15: MGC opens sports betting application period
- July 15: Applications for the two mobile licenses are due
- August 13: Hearing set to award the concessions
- August 15: Concessions awarded
Start Date:
The MGC says sports betting should be expected to begin on December 1. However, this date may not come as a surprise to everyone.
Physical Sportsbook Licenses and Mobile Permits
Physical sportsbook licenses cost $250K each, and mobile permits go for double that amount at $500K.
Tax Revenue Allocation
Oddsmakers will direct 10% of their gross sports betting win to the state. The first $5 million in state sports betting tax revenue collected each year will go to the Compulsive Gambling Prevention Fund. The remaining tax benefit will support K-12 and higher public education.
Joining the League
When its sports betting market launches on December 1, Missouri will join Arkansas, Illinois, Iowa, Kansas, Kentucky, Nebraska, and Tennessee in allowing some form of legal sports betting. Only Oklahoma shares a border with Missouri that continues to prohibit sports gambling.
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Conclusion
In conclusion, while the start date for sports betting in Missouri may not be as soon as expected, it’s still an exciting time for fans of the sport. With two fully remote sportsbooks authorized and licensing details in place, it won’t be long before bettors can place their first wagers. Stay tuned for updates on this developing story, and don’t forget to check out 10BET for all your sports betting needs.