Eyes will be on Missouri this November to see whether the state legalizes sports betting. A ton of money and attention are entering the Show-Me State trying to convince Missourians how to vote on Amendment 2.
Earlier this month Missourians Against the Deceptive Online Gambling Amendment (MADOGA) released their argument, which echoes the same strategy used to sink California’s sports betting momentum. The group maintains that sports betting only helps out-of-state companies. Plus, Kansas University professors published findings showing bettors draw money from their savings to wager.
Now the Winning for Missouri Education coalition is punching back. The group teamed up with the reputable Eilers & Krejcik Gaming firm to show voters the benefits of legalization.
More money for Missouri
"Our study shows that Missouri has the potential to create a competitive, fast-growing sports betting market," said Chris Krafcik, managing director at Eilers & Krejcik Gaming.
The 23-page report pushes back on what they call the state’s conservative estimates to show that Missouri would be a popular state for bettors. And since the tax dollars would go towards the state’s public education, more revenue is a strong argument.
“The numbers speak for themselves - legalized sports betting will bring in millions of dollars that could be used to improve our schools and invest in Missouri’s future,” said Jack Cardetti, spokesperson for Winning for Missouri Education. “While Missouri continues to lose revenue to neighboring states that have already embraced sports betting, this ballot measure will help us bring those tax dollars back home, benefiting our students and educators.”
How it compares
In the first year, the report projects Missouri sports betting would claim $3.4 billion in handle, a 9.8% hold, $47.5 million in taxable revenue, and $4.7 million in taxes. Over five years, they expect $105 million to go towards Missouri’s education fund.
When looking at nearby states, it shows that Missouri has a greater pool of bettors.
Neighboring Kansas saw $2.1 billion in handle in 2023 and $182.4 million in revenue. While Missouri's northern neighbor, Iowa, reported $2.4 billion and 198.7 million in revenue last year.
