Missouri study projects $335m in GGR for first year of sports betting
Voters in the state will decide whether to allow legal sports wagering this November.
Winning for Missouri Education recently published results of a study that examined how a sports wagering market in the state could potentially affect education, according to a recent local news report from FOX 4.
Research conducted by an independent firm revealed that total gross gaming revenue (GGR) could reach $335m during the first year and could increase to $560m by the market’s fifth year.
The study also showed that the market could generate close to $4.7m in tax revenue during the first year. By year five, tax revenue from a Missouri sports betting market could rise to $38.7m, the local report said.
During a five-year period, up to $105m could be generated for schools in Missouri, according to the study’s findings.
Missouri voters will have the chance in November to pull the lever for statewide legalized sports betting. Amendment 2, which could bring sports betting to the state, will be on the ballot, due to reaching the required number of signature in six congressional districts.
After weeks of debate regarding whether a petition to put the issue on the upcoming ballot was valid, Missouri Judge Daniel Green, a Circuit Court Judge in Cole County recently struck down an attempt to invalidate the petition.
Should voters say yes to statewide sports betting, Missouri will become the 39th state to open a regulated market.
Missouri’s current law allows the Gaming Commission to distribute gaming 13 licenses. However, these can only go to gaming facilities that are located on the Missouri River and Mississippi River.
In addition to legalized sports betting, voters will have a say in whether a new casino is welcome near Lake of the Ozarks.
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