Missouri voters have approved legal sports betting in Tuesday’s election, marking a significant milestone for the US gaming industry. This decision has been welcomed by many, including Data PR for BetMGM John Ewing, who expressed excitement at the prospect of Missourians being able to bet on events like the Hot Dog Contest by the 4th of July. The news of Missouri’s approval has caused a surge in sports betting stocks, with companies like DraftKings, FanDuel, and Rush Street seeing significant increases in their share prices.
President and CEO of the American Gaming Association Bill Miller commended Missouri for legalizing sports betting, noting the importance of consumer protections, responsible gaming measures, and the potential tax revenues that could benefit public schools. Amendment 2 narrowly passed by less than 7,500 votes, with opposition groups choosing not to request a recount. The victory for sports betting advocates is also a win for companies like FanDuel and DraftKings, who invested heavily in supporting Amendment 2.
The legalization of sports betting in Missouri has been praised by St. Louis Cardinals President Bill DeWitt III, who highlighted the potential economic benefits for the state and its professional sports franchises. With every state bordering Missouri except Oklahoma already having legalized sports betting, there is a significant demand for sports wagering in the state. The Missouri Gaming Authority will issue a total of 40 sports betting licenses, with opportunities for both retail and online operators to enter the market.
Industry analysts anticipate that Missouri’s sports betting market will attract major sportsbook firms due to its large sports fanbase and favorable tax rates. Retail sportsbooks at brick-and-mortar casinos are expected to be popular among operators like Boyd Gaming, Caesars, and Penn Entertainment. The launch of the sports betting market is expected to occur no later than December 1, 2025, providing ample time for operators to prepare and capitalize on this new opportunity.
Overall, the approval of legal sports betting in Missouri represents a significant milestone for the US gaming industry and is expected to have a positive impact on the state’s economy and professional sports teams. With the potential for increased tax revenues, consumer protections, and responsible gaming measures, Missouri is poised to become a key player in the growing sports betting market.