Missouri Sports Teams Take Action on Sports Betting Ahead of 2025
Missouri Sports Teams Take Action on Sports Betting Ahead of 2025
Sports betting has been a hot topic across the United States in recent years, with many states legalizing and regulating this form of gambling. Missouri is no exception, as the state’s sports teams are taking action to prepare for the potential legalization of sports betting ahead of 2025.
In May 2018, the Supreme Court struck down the Professional and Amateur Sports Protection Act (PASPA), which had prohibited states from authorizing sports betting. This decision opened the doors for individual states to legalize and regulate sports betting within their borders. Since then, many states have moved forward with legislation to allow sports betting, and Missouri is considering joining this trend.
While sports betting is not yet legal in Missouri, the state’s sports teams are not waiting idly. They are actively preparing for the potential legalization by forming partnerships and advocating for favorable legislation.
One notable example is the partnership between the St. Louis Cardinals and DraftKings, a leading daily fantasy sports and sports betting operator. In November 2020, the Cardinals announced a multi-year partnership with DraftKings, making them the team’s official daily fantasy sports provider and an official sports betting partner. This partnership positions both organizations to capitalize on the potential legalization of sports betting in Missouri.
Similarly, the Kansas City Chiefs, one of Missouri’s most popular sports teams, have also taken steps to prepare for sports betting. In September 2020, the Chiefs announced a partnership with BetMGM, a prominent sports betting operator. This partnership allows BetMGM to leverage the Chiefs’ brand and reach their fan base, while also positioning both organizations for future opportunities in the sports betting market.
In addition to forming partnerships, Missouri sports teams are actively advocating for favorable legislation that would legalize sports betting. The Chiefs and Cardinals have both expressed support for legalizing sports betting in Missouri, emphasizing the potential economic benefits and the need for consumer protections.
The potential legalization of sports betting in Missouri could have significant economic implications. According to a study by Oxford Economics, legalizing sports betting in Missouri could generate up to $289 million in annual tax revenue and create thousands of jobs. This revenue could be used to fund education, infrastructure, and other public services.
However, it is important to note that there are still hurdles to overcome before sports betting becomes legal in Missouri. The state legislature would need to pass a bill legalizing sports betting, and there may be debates and negotiations regarding the specifics of the legislation, such as tax rates and licensing requirements.
In conclusion, Missouri sports teams are taking action ahead of the potential legalization of sports betting in 2025. They are forming partnerships with sports betting operators and advocating for favorable legislation. The potential economic benefits of legalizing sports betting in Missouri are significant, but there are still challenges to overcome. It remains to be seen whether Missouri will join the growing list of states that have embraced sports betting, but the actions of the state’s sports teams indicate that they are preparing for this possibility.