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Missouri citizens approved legal mobile and retail sports betting, allowing regulated books to take bets next year.
The sports betting wagering ballot step passed by a slim majority early Wednesday early morning after more than 2.9 million votes were counted.
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Seven of the 8 states bordering Missouri permit mobile or retail sportsbooks. That includes Kansas and Illinois, which split the Kansas City and St. Louis city locations with Missouri, respectively.
Missouri is the 39th state to authorize legal sportsbooks and the 31st to green light statewide mobile sports betting. It is the only state to approve sports betting wagering this year.
" Missouri has a few of the best sports betting fans on the planet and they revealed up huge for their preferred teams on Election Day," Bill DeWitt III, president of the St. Louis Cardinals, stated in a statement. "On behalf of all six of Missouri's expert sports betting franchises, we wish to thank the Missouri voters who made their voices heard by approving Amendment 2. This historic vote makes Missouri the 39th state to legislate sports betting wagering and ensures we no longer lose valuable tax profits to our neighboring states. Most importantly, the passage of Amendment 2 suggests a new, devoted, irreversible funding stream for Missouri class."
Missouri sports betting next steps
Voter approval implies approximately 14 mobile sportsbooks could begin accepting bets next year. It is unlikely all 14 available licenses are used.
DraftKings and FanDuel funded nearly every dollar of the "yes" campaign and will certainly use to take bets in the Show Me State. They will likely each pursue the 2 "untethered" licenses readily available without having to partner with a Missouri brick-and-mortar casino or sports betting group (and pay an accompanying charge).
Six licenses are readily available to each Missouri casino operator, respectively. Caesars, in spite of opposing the tally procedure, will likely utilize its license to introduce the Caesars mobile sportsbook. Penn Entertainment, which manages ESPN Bet, and Bally's (Bally Bet) will also likely introduce their respective books.
The other 3 operators are Boyd Gaming, Century Casino, and Affinity Interactive. It remains uncertain if they will release mobile sportsbooks.
The staying six licenses are reserved for each of the major professional that play home video games in Missouri: MLB's Kansas City Royals and Cardinals, the NFL's Kansas City Chiefs, NHL's St. Louis Blues, MLS' St. Louis City SC and the NWSL's Kansas City Current. The sports betting organizations were amongst the most prominent advocates of the tally measure.
Together with DraftKings, FanDuel and Caesars, Missouri gamblers must anticipate other prominent national brands consisting of BetMGM, bet365, BetRivers and Fanatics to look for market access.
Launch likelihood tiers IF Missouri citizens authorize sports betting:
Guarantees: FanDuel, DraftKings
Locks: BetMGM, Bally Bet
Very likely: Fanatics, bet365, ESPN BET
Are Already Live In Illinois, So Yeah(?): BetRivers, Acid Rock, Circa
Opposed Referendum But Still Might: Caesars
Missouri's ballot step enables every Missouri casino to open retail sportsbooks on their particular homes. Most if not all 13 gambling establishments handled by the six gambling establishment operators are anticipated to open in-person wagering alternatives such as sports betting kiosks and possibly devoted, full-service sportsbooks.
The six sports betting groups can also open in-person sportsbooks within or nearby to their respective home playing locations. Missouri will sign up with Illinois, Maryland, Arizona, Connecticut, and Washington, D.C. among jurisdictions that permit in-stadium retail sportsbooks.
The language around the tally procedure requires the very first certified sportsbooks to begin accepting wagers by Dec. 1, 2025. Operators will likely work with regulators to go live before kick-off of the fall 2025 football season, perennially books' most rewarding time of the sports betting calendar.
Missouri sports betting background
The successful Missouri sports betting campaign comes in spite of millions in funding opposing the procedure from one of the state's biggest gambling stakeholders.
Caesars spent countless dollars to beat the procedure. In a lot of other states that tie online sports betting with a state's brick-and-mortar casinos, an operator is approved at least one license per managed home.
In that scenario in Missouri, Caesars would be managed at least 3 potential licenses, one for each gambling establishment it manages. Instead, Caesars only has one. In states with the license-per-property design, business can either open additional in-house books or, more typically, farm out the license to a rival that pays an accompanying charge in exchange.
FanDuel and DraftKings, which have approximately two-thirds of U.S. across the country sports betting deal with market share, might potentially have a leg up on their competitors by making the pair of untethered licenses. It stays to be seen which two books will earn these slots, but the language around the tally measure would seem to prefer the two nationwide market leaders.
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Polling earlier in the year revealed the "yes" vote with a small lead. Support efforts were reinforced by 10s of millions spent by DraftKings and FanDuel.
A series of tv and radio ads focused on the income legal sportsbooks would create for Missouri public education. Opponents, moneyed largely by Caesars, argued the fans' advertisements were misleading and the tens of millions of predicted dollars raised would have a negligible effect in a state that currently spends billions on education yearly.
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Missouri Sports Betting Ballot Measure Approved By Voters
dennisw9722680 edited this page 2024-12-17 23:30:04 +01:00