Sports betting is still illegal in the state of Missouri, but Rep. Dan Shaul and four of the big teams in the state agree that it would be a huge money maker as well as a way to further fans’ interest in various sports.
KSDK reported on Nov. 7 that Shaul estimated that sports betting could bring in more than $40 million per year that would be vital for Missouri residents.
“This new revenue source should be used for our veterans,” Shaul said. “They’ve committed so much to us and we need to commit to them as well.”
A Missouri Sports Team Coalition — which includes the Kansas City Royals, St. Louis Cardinals, St. Louis Blues and St. Louis City SC — released a statement in support of a potential bill that would legalize sports wagering in Missouri. The statement says it would be a way to increase engagement with fans and also provide a new, exciting way to root on their favorite teams.
The coalition said sports wagering can be used to generate tax revenue and it is already legal in half the country including nearby states of Illinois, Arkansas, Tennessee, Iowa, Nebraska and Oklahoma.
“As proud citizens of the State of Missouri, as stewards of the sports franchises within our respective communities, and as key stakeholders regarding the possible legalization of sports wagering in Missouri, we are united in our goal of supporting a responsible Missouri sports wagering law that is good for our teams, our fans and the citizens of the great state of Missouri,” the coalition’s statement says.
“While it is our strong preference to achieve this goal during the upcoming Missouri legislative session in 2022, we are also exploring the possibility of achieving this goal through the initiative petition process. We look forward to continuing to work with our state legislators and the other stakeholders to achieve this important goal for Missouri.”
Shaul also said that with Illinois collecting $57 million in tax revenues attributed to sports betting in the last fiscal year, it was clear that some of the money was coming from Missouri residents, and that money could be better used in-state.
Missouri Gaming Commission Chairman Mike Leara said that while the bill had been killed three times prior, he was confident that it would get passed this time around.
“Our opinion is if it becomes law in the state we will manage and regulate it without any difficulties,” Leara said. “We are prepared for that.”
KSDK reported that legislators can begin pre-filing bills for 2022 on Dec. 1.