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 fewer than 3,000 votes, with 50.05% support from 2,954,343 total votes cast.

Missouri joins seven of its eight neighboring states in regulating sports wagering, with Oklahoma being the only bordering state that still prohibits it. The state's sports betting market will launch in 2024, serving its 6.2 million residents and sports fans of six professional franchises.

Key aspects of Missouri's sports betting framework:

• Casino and venue licensing: The state's 13 casinos and professional sports venues can obtain retail ($250K) and online ($500K) betting licenses
• Remote operators: Two fully remote online sportsbook permits will be available
• Tax structure: 10% tax on net revenue
• Revenue allocation: First $5 million goes to Compulsive Gambling Prevention Fund, remaining funds support education
• Promotional credits: Operators can deduct up to 25% of monthly revenue for free play and promotions

Financial projections:

• Immediate revenue: $11.75 million from licensing
• Annual tax revenue: Estimated between $0 to $28.9 million
• Startup costs: $660K for regulatory studies
• Annual regulatory costs: $5.2 million

The implementation followed significant campaign spending, with DraftKings and FanDuel contributing $41 million in support, while Caesars Entertainment spent $14 million opposing the measure due to concerns about online operators entering the market without physical investment in the state.

The Missouri Gaming Commission will now develop detailed regulations before the market launches.

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