Missouri lawmakers Denny Hoskins, Tony Luetkemeyer, and Caleb Rowden are doing everything possible to legalize sports betting in the state. The three Republican Senators pre-filed three sports betting bills in hopes one could pass in 2021.
Missouri has attempted to pass a sports betting bill in the last three years. The three bills give Missouri options on what sports betting could look like in the state and mix and match a different proposal from each bill to make sports betting the best possible.
Here is a look at what each bill is offering for the state.
Senate Bill 18
Denny Hoskins is sponsoring SB18. He is proposing in-person and online betting and allowing each casino (13) to have three online betting skins. This would give Missouri the possibility of 40 sportsbooks to enter the state.
The Missouri Gaming Commission would oversee sports betting operations, and college prop betting would be available. The proposed tax rate would be 9% gross adjusted revenue. SB18 proposes a $25,000 application fee, $50,000 administration fee every year, and $10,000 license renewal every five years. League data fees have not been proposed yet, and royalties would be .25% to pro leagues and Division I NCAA games.
HB18 is very friendly to the industry, and the fees would be lower than the industry standard if this bill passes in 2021. However, it will give the state a competitive market by allowing up to 39 sportsbooks to enter the market. These many operators would help make up for the below-average fees.
Senate Bill 217
Tony Luetkemeyer will sponsor SB217 will also allow online and in-person betting. However, each casino would only have one skin for each location. The Missouri Gaming Commission would also regulate sports betting; however, college prop betting would not be allowed.
The tax rate is proposed at 6.25% on gross adjusted revenue. SB217 is also proposing a $10,000 application fee, $5,000 administration fee every year, and $10,000 license renewal every five years. The five-year renewal fee is the same as in SB18. League data fees have not been determined, and there are no royalty fees.
The Missouri tax rate will be the lowest in the country if 6.25% is allowed. The Missouri betting market would not be as competitive with only 13 skins compared to 39 in SB18.
Senate Bill 256
SB256 has been proposed by Caleb Rowden and the final of the three proposals. Mobile and in-person betting are available and allow 39 operators to enter the market, with casinos allowing up to three skins. Missouri Gaming Commission would oversee the industry, and Rowden allows for college prop betting in his proposal.
Taxes would be set at 6.75% of adjusted gross receipts at this proposal. There would be a $50,000 application fee, $20,000 administrative fee every year, $10,000 license renewal every five years, which is more similar to SB18. There are no league data fees, but leagues could limit bets on their leagues. There would also be no royalty fees.
SB256 is similar to SB18 and does offer the most for sportsbooks. There are little to no fees, and the state has a low tax rate on revenue. Missouri would want to get more sportsbooks in the state compared to HB217 that is only proposing 13.