Missouri’s major teams launch initiative on sports betting

Missouri’s professional sports teams launched an initiative petition drive to put the legalisation of sports betting on the November ballot.

US.- A coalition that includes Missouri’s six largest sports teams and is backed by major donations from two sports betting platforms announced an initiative campaign to put sports betting on this year’s ballot.

Last year, the Senate’s legislative session ended without it addressing House Bill 556, which was passed by the state House in March. It was the fifth year sports betting failed to make it through both chambers in Missouri.

The teams are actively seeking support for their petition, gathering signatures from sports fans across the state. The Missouri teams in favour of sports betting include major local players, such as the Kansas City Chiefs, the Kansas City Current, the Kansas City Royals, the St. Louis Cardinals, St. Louis Blues and St. Louis City. It also has the support of DraftKings and FanDuel, which contributed $250,000 each to create a campaign committee for the initiative.

“We are united in our goal of supporting the legalization of sports wagering in Missouri in a reasonable, safe and responsible way that is good for our teams, our fans, our Missouri teachers and our other citizens of Missouri,” St. Louis Cardinals president Bill DeWitt III said in a statement.

The measure needs to gather at least 180,000 signatures to qualify for the November ballot. If approved, it would allow Missouri’s 13 casinos and six professional sports teams to offer retail and online sports betting. While the legislature continues its session, the group behind the petition has until May 5 to collect the needed signatures.

Under the measure, teams would be in charge of sports betting and advertising within 400 yards of their stadiums. In addition, two mobile sports betting operators will be able to apply for online wagering licences.

Licence for retail operations would cost $250,000 and renew every five years, while online licences would cost $500,000 with a five-year renewal. The state would tax 10 per cent of revenue but allow for promotional credit deductions of up to 25 per cent of handle. This money would then fund a variety of initiatives, including problem gambling treatment and state education.