JEFFERSON CITY, Mo. — Missouri lawmakers are back on Capitol Hill for a special session devoted to tax cut proposals, but it looks like there could also be discussions on sports betting.
Missouri State Rep. Dan Holly (R-54th District) introduced HB4 earlier this week in an effort to legalize sports betting in the state. According to online records, the Missouri House of Representatives could discuss the bill as early as Monday.
The bill calls for new sports betting provisions to legalize retail activity at riverside casinos in the state and approve mobile sports district licenses for services such as DraftKings and FanDuel. Casinos would be allowed one retail sports betting site and at least three mobile sports betting platforms per location.
Other items on the bill include an initial application fee of up to $150,000 for vendors, a tax rate of 10% of adjusted gross receipts, and annual license renewal fees of no more than $50,000. The bill also provides for a $10,000 fee to cover the cost of a full re-survey of the supplier every four years.
According to the bill, revenue from taxes would be deposited in the Treasury and credited to the “Games for Education Fund”. Current Missouri law specifies that state revenue from casino gaming must be spent on educational programs. This would include sports betting, unless state law changes.
Holly’s bill is similar to one he introduced last year HB 2502, which included language sought by a coalition of casinos and professional sports teams, including the St. Louis Cardinals, St. Louis Blues and many Kansas City teams. Proponents hope such legislation could generate tens of millions of dollars for the state each year.
Dozens of states, including neighboring states Arkansas, Illinois, Iowa, and Tennessee, have already legalized sports betting. Missourians tried to cash in when Kansas legalized sports betting earlier this month with more than 100,000 people in Missouri trying to place bets through licensed Kansas operators before being blocked by software. geofencing.
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