Missouri: Sports Betting Market Likely to Launch in Early 2023

Missouri: Sports Betting Market Likely to Launch in Early 2023

Missouri online casino

State Senator Tony Luetkemeyer has filed a bill for the 2023 legislative session on the prospects of legalizing sports betting in Missouri. 

The bill will seek to legalize sports betting in the state at a time when neighboring states have already done so. Luetkemeyer’s proposal addresses both in-person and online wagering.

More than 30 states and the District of Columbia have already launched gambling industries, and sports betting proponents believe that Missouri’s laws on sports betting need to be updated and follow the nationwide trend.

State Senator Tony Luetkemeyer is attempting to rectify what he views as an injustice. This is why the legislator has pre-filed a bill that would legalize all sports betting during the legislative session of 2023.

Of course for those Missourians who cannot wait any longer for the lunch of the sports betting market in their state, placing bets on legit offshore gaming sites is always a safe and convenient option.

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Missouri Legalizes Sports Betting Early in 2023

With the session beginning on January 4 and ending on May 12, it will be a close race, but Luetkemeyer is confident he can affect positive change in his state. 

There has not been significant opposition to sports betting in Missouri, where a bill was briefly introduced during the last legislative session before falling off the agenda when no time was found for a vote.

However, Luetkemeyer is optimistic that the new bill will be introduced during the upcoming session. The senator is confident that Missouri will benefit greatly from regulating and legalizing its sports gambling industry, citing Kansas as an example of a state that recently enacted betting laws.

Proposing Education Funding through Taxes from Gambling 

This bill proposes to fund education in Missouri with tax revenue from gambling. Luetkemeyer also notes that Missouri’s neighbors, Illinois and Kansas, offer regulated sports betting, meaning the state will lose tax revenue if it does not act.

A substantial number of Missouri residents are already crossing into both states to place a regulated wager. Luetkemeyer insists that Missouri is paying a high price for this, and the funds could be used to bolster the educational budget. However, Illinois and Kansas are not the only states with legalized sports betting, as Arkansas, Nebraska, and Iowa also offer wagering options, leaving Missouri out of the equation.

The Internal Structure of Luetkemeyer’s Law

To fix this, Missouri legislators will need to convene and vote again. Due to Luetkemeyer’s prompt response, the bill should get off to a strong start, heading to a committee that will then push for a hearing or vote date.

Permitting Both Online and In-Person Betting

The bill proposed by Representative Luetkemeyer is well-considered, as it would permit in-person and online sports wagering as long as the bettor is physically located in Missouri. 

Under the bill, professional sports teams will be able to obtain sports district mobile licensees, and excursion gambling boats will also be able to apply for licenses, closing a loophole in the current betting legislation.

The license application fee would be at most $150,000, and the annual renewal fee would be $125,000. Meanwhile, Luetkemeyer has proposed a 10% tax on licensed holders’ adjusted gross receipts from sports wagering.

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About Lou De Aguila

Lou Aguila is a news and feature writer for Golden Casino News. For over a decade, Lou has published news and featured articles for some of the most reputable sports betting and online casino sites in the world, including BetNow.UK, VegasOdds, and BWin. Apart from being a hardcore live casino punter, he also covers sports stories in North American leagues from time to time.