The Missouri House of Representatives has voted to approve a bill that would legalize sports betting in the US state.
While the vote is a step forward in the authorization of sports betting in the Show-Me State, a formal roll call vote is required in the House before the bill is sent to the State Senate for final confirmation.
The House Bill 556, which would allow for retail and online sports wagering in Missouri, is being co-sponsored by Republicans Dave Hinman and Adam Schwadron, as well as Democrats Keri Ingle and Ashley Bland Manlove.
The bill was introduced to the House at the start of the year and approved last night (March 20). Following a formal roll call, which is expected to take place later this week, the bill will then progress to the Senate for further discussion.
Should the bill pass into law, HB 556 would allow all licensed casinos in Missouri to offer three sports betting skins to customers, with a limit of six skins per casino operator.
Major league sports teams based in the state would also be able to partner with a betting platform to offer sports wagering under their brand name. Super Bowl LVII winner Kansas City Chiefs is among the teams located in Missouri.
Licenses would incur an initial application cost of $100,000 for gambling excursion boats and $150,000 for an interactive wagering platform license. Renewal fees will be set at $50,000 and $125,000, respectively.
In terms of tax, operators offering sports betting would be taxed at a rate of 10% of their adjusted gross receipts from wagering. This would be calculated after deductions for promotional costs such as free bets.
Betting would be available to players over the age of 21 in Missouri, with consumers able to place a from anywhere inside the state’s boundaries.