Missouri House passes sports betting bill

House Bill 556 is closer to becoming law. 

US.- The Missouri House has granted first-round approval to a bill that would legalise online and retail sports betting in the state. A formal roll call vote is required in the House before House Bill 556 is sent to the State Senate. The vote is expected to take place later this week.

HB556 would allow up to 39 mobile skins for Missouri casino operators and sports teams. In-person sportsbooks could open at the state’s 13 riverboat casinos, while sports teams would receive an exclusion zone around their venues. The Missouri Gaming Commission would oversee sports betting, which would be available to players over the age of 21.

Licences would incur an initial application cost of $100,000 for gambling excursion boats and $150,000 for an interactive wagering platform licence. Renewal fees will be set at $50,000 and $125,000, respectively. 

The legislation establishes a 10 per cent sports betting tax on net revenue, which is estimated to bring in more than $20m for the state annually. The revenue generated would go to the state’s education fund. The bill, sponsored by Dan Houx, also earmarks $500,000 to help with compulsive gambling problems. Last year, a bill failed in the Senate.

See also: Missouri casinos reach $153.7m in revenue in January