Missouri Getting The Jump On Sports Betting Bills For 2021
- Missouri is not shying away from the sports betting industry as three new bills have been pre-filed by different sponsors.
- The Show-Me State was close to sports wagering legalization in 2020 prior to the outbreak of COVID-19 and the upcoming 2021 session hopes to finish the job.
JEFFERSON CITY, Mo. – Missouri lawmakers have already pre-filed three separate bills for the 2021 session that would make sports betting legal in the state.
In total, 2020 saw six bills to legalize the wagering on sporting events filed and having these three proposals out marks the halfway point for the number of bills filed previously.
The pre-filing window only just opened in Missouri on December 1, showing the eagerness of lawmakers to get legal sportsbooks for their state during the new session. The three bills on the table thus far for 2021 are much like those seen in 2020, and that was done purposefully.
The Three Bills Pre-Filed To Legalize Sports Betting
Missouri was so very close in 2020 to moving forward with sports betting legislation but the Coronavirus Pandemic hit and halted all progress for the industry to become legal. The Missouri General Assembly shifted their focus to the cleanup of the collateral damage caused by the Pandemic rather than any other issues like that of sports wagering.
However, because lawmakers became familiar with the bills, the 2021 session will allow them to go into discussions with a great understanding of the legislation being proposed.
The bills that have been pre-filed are Senate Bill 18 by Senator Denny Hoskins, Senate Bill 217 by Senator Tony Luetkemeyer, and Senate Bill 256 by Senator Caleb Rowden. Any one of these bills would suffice in getting legal sports wagering into Missouri and allowing the state to begin earning money from the market that they’ve been losing to outsider sportsbooks.
Not only have residents turned to legal offshore internet sportsbooks, but the neighboring states of Arkansas, Illinois, Iowa, and Tennessee all have legalized industries that Missourians can drive to and wager on sporting events using their outlets.
Senate Bill 18 has a 0.25% integrity fee written into its proposal as well as the need to use official league data when wagering with live in-game betting. The tax for the online and mobile sportsbooks bill is set at 9% with a $25,000 application fee and $50,000 yearly license fee for casino boats and mobile platforms.
Senate Bill 217 would make both retail and mobile sportsbooks legal for Missouri. There is a tax on revenue of 6.25% with an application fee of $10,000 and a $5,000 yearly license renewal payment. There is a 0.75% integrity fee and the need for official league data like Senate Bill 18 for live wagers. Collegiate prop bets are banned with Senate Bill 217.
The best bill seen so far is Senate Bill 256, as it mirrors a bill that saw favorable progress in 2020. MO SB 256 will legalize both mobile and casino sportsbooks. There is a tax rate of 6.75% and an application fee of $50,000 with a yearly license renewal of $20,000.
Missouri Sports Betting Odds In 2021
With three bills already on the table for 2021 and the possibility of many more to come, it’s likely that the Show-Me State will show residents legalized sport betting coming out of the 2021 session.
Needing more revenue streams because of the Coronavirus Pandemic and knowing they’re losing money as sports betting is already happening by residents in their state, policymakers in Missouri will likely make gambling on sporting events legal in the state with the new session.
The Show-Me State will be able to finally show sports bettors some legal sportsbooks in 2021 if all goes according to plan during session talks in the new year.