Candidates Crystal Quade (D) and Mike Kehoe (R) Unite on Sports Betting
In a surprising twist for Missouri politics, both major candidates vying for the governor’s seat have found common ground on a hot-button issue: legalized sports betting. During the recent gubernatorial debate, Democratic candidate Crystal Quade and Republican candidate Mike Kehoe both voiced their support for a constitutional amendment that would pave the way for sports betting in the Show-Me State. This bipartisan agreement highlights a growing recognition of the potential benefits that legalized sports betting could bring to Missouri.
The Push for Legalization
The debate surrounding sports betting has gained momentum in Missouri, with both Quade and Kehoe emphasizing the financial implications of not legalizing it. They pointed out that Missouri is currently losing out on significant revenue as residents turn to neighboring states where sports betting is already legal. This sentiment was echoed by Libertarian candidate Bill Slantz, who also supports the amendment but advocates for minimal regulations to foster a more competitive environment. In contrast, Green Party candidate Paul Lehman has taken a stance against the measure, showcasing the diverse opinions that exist within the political landscape.
Economic Benefits and Educational Funding
One of the most compelling arguments for legalizing sports betting is the potential revenue it could generate for the state. Winning for Missouri Education, a campaign supporting the sports betting ballot initiative, has praised the candidates for their endorsement. Jack Cardetti, a spokesperson for the campaign, stated, “We are honored that the two leading candidates to be Missouri’s next chief executive both endorse legalizing sports betting as a new permanent, dedicated funding source for our classrooms.”
A recent economic study commissioned by the campaign from Eilers & Krejcik Gaming projected that Missouri’s gross gaming revenue could reach nearly $560 million within five years of legalization. This influx of revenue could translate to approximately $105 million earmarked for public education over the same period, making a strong case for the amendment’s approval.
The Ballot Initiative
As the general election approaches, voters will have the opportunity to weigh in on the future of sports betting in Missouri. On November 5, a constitutional amendment question will appear on the ballot, potentially legalizing both retail and online sports betting. The proposed initiative outlines a framework where the state’s casinos would receive a single online sports betting license, while two additional untethered licenses would be available for sports betting companies looking to operate within Missouri.
Under the proposed legislation, each Missouri sports team and casino would be eligible to apply for one retail sports betting license. Additionally, they could also secure one online sports betting license, allowing them to partner with an online sports betting operator. This structure aims to create a competitive market that benefits both the state and its residents.
The Path Forward
For the amendment to pass, it requires a simple majority of votes in favor. If successful, Missouri could see the launch of sports betting as early as mid to late 2025. The prospect of legalized sports betting not only promises to enhance the state’s economy but also aims to provide a much-needed boost to public education funding.
As the election date draws near, the support from both Quade and Kehoe signals a significant shift in Missouri’s political landscape, where bipartisan cooperation could lead to substantial economic benefits for the state. With voters poised to make a critical decision, the outcome of this initiative could reshape the future of sports betting in Missouri and set a precedent for similar measures across the country.