Missouri has officially become the 39th state to legalize sports betting following the certification of the 2024 ballot referendum. The measure passed by a narrow margin of less than 3,000 votes, with 50.05% support from a total of 2,954,343 votes cast.

Key Details:

• Missouri joins seven of its eight neighboring states in regulating sports betting
• The state will allow both retail and online sports betting
• Implementation expected in 2024
• Oklahoma remains the only bordering state without legal sports betting

Licensing Structure:

• 13 casinos eligible for retail and online betting licenses
• Professional sports venues can obtain retail and online licenses
• Two additional remote online sportsbook permits available
• License costs: $500,000 for online books, $250,000 for physical sportsbooks
• 10% tax on net revenue

Financial Impact:

• Expected immediate revenue: $11.75 million from licensing
• Startup costs: $660,000
• Annual regulatory costs: $5.2 million
• Projected annual tax revenue: $0 to $28.9 million

Revenue Distribution:

• First $5 million goes to Compulsive Gambling Prevention Fund
• Remaining funds support K-12 public and higher education
• Sportsbooks can deduct up to 25% of monthly revenue for promotional credits

The gaming industry invested heavily in the campaign, with DraftKings and FanDuel contributing $41 million in support, while Caesars Entertainment spent $14 million opposing the measure. The Missouri Gaming Commission will now develop regulatory framework before launching operations.

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