Missouri is on the brink of legalizing sports wagering, with the passage of Amendment 2 appearing secure despite a narrow margin in the recent election. The Missouri Gaming Commission anticipates issuing licenses for in-person and online betting by summer 2024, paving the way for a new era in the state’s gambling landscape.
Key Takeaways
Amendment 2 to legalize sports wagering has a narrow margin of victory.
Licenses for betting could be issued by summer 2024.
The amendment allows both in-person and online gambling.
Major sports teams can license their own online platforms.
Election Results Overview
The final count for Amendment 2 showed a slim victory, with a margin of just 2,971 votes out of nearly 2.9 million cast. Initially, the amendment led by 4,365 votes, but this was reduced to 371 votes after accounting for unreported ballots from Christian County. However, subsequent returns from other counties expanded the margin, confirming the amendment’s passage.
Implications for Gamblers
Despite the amendment’s passage, Missouri gamblers will not be able to place bets immediately. The Missouri Gaming Commission has indicated that it will take time to establish the necessary regulations and issue licenses. Mike Leara, the commission’s executive director, stated that the process could take a minimum of six months, meaning that residents may have to continue crossing state lines to place bets until then.
Funding and Support
The campaign supporting Amendment 2, Winning for Missouri Education, raised a record $43 million to promote the initiative, successfully overcoming a $15 million opposition campaign led by Caesars Entertainment. The funds raised were primarily from major sports teams and online gambling platforms like DraftKings and FanDuel, which contributed significantly to the campaign’s success.
Licensing Process
The amendment allows for both in-person and online sports betting. The gaming commission plans to issue licenses for in-person wagering at existing casinos and a location near a major sports arena. Additionally, major sports teams will be permitted to license their own online platforms, with two online-only licenses available.
The commission aims to streamline the licensing process, with emergency rules for applications expected to be issued in January 2024. Temporary licenses could be granted by late June, allowing for the acceptance of bets from within Missouri.
Conclusion
The passage of Amendment 2 marks a significant step forward for sports wagering in Missouri, promising new revenue streams for local communities and educational funding. As the state prepares for the implementation of sports betting, stakeholders are optimistic about the potential benefits and the future of gambling in Missouri.
