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SPRINGFIELD, Mo. (KY3) – Missouri’s Amendment 2 took effect this past Thursday, but sports betters can’t officially deal just yet.
Missouri State University Finance and Economics Professor David Mitchell said the state still has to issue licenses and establish rules and regulations.
“It takes time to get those things in place. Licenses, do background checks on people to make sure businesses are set up and websites and everything. It just doesn’t happen overnight,” Mitchell said. “It’s more of an operational constraint than it is a legal constraint.”
He also said Kansas brought in around $9 million in tax revenue from legalizing sports betting, which wouldn’t be a huge economic impact for Missouri.
“You’re really more likely to actually have people divert their spending that they were doing on cars and clothes and food, etc…from those particular things which would be more helpful for the economy, towards gambling and betting which tend to not help the economy very much,” Mitchell said.
He said a downfall to sports betting is it can lead to gambling addictions.
“Gambling takes away savings. They dissave as much. They don’t save for retirement. That has a tendency to not only hurt them today but also hurt them in the future,” Professor Mitchell said.
Sports Better Johan Collins said he loves to sports bet and can’t wait to get his license so he can do it right here in Missouri.
“Now you just have a booker from out of state, and he places the bet and gets a percentage. That’s how it is now. But soon, you won’t have to do that anymore, just do it in-state, which will be really good,” Collins said.
The Missouri Gaming Commission plans to officially launch sports betting in our state by the spring or the summer. Amendment 2’s deadline is Dec. 1, 2025.
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