{"id":328403,"date":"2024-08-19T18:27:40","date_gmt":"2024-08-19T23:27:40","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=328403"},"modified":"2024-09-11T12:34:59","modified_gmt":"2024-09-11T17:34:59","slug":"draftkings-signs-3-5m-check-to-back-missouri-sports-betting-pac","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/draftkings-signs-3-5m-check-to-back-missouri-sports-betting-pac\/","title":{"rendered":"DraftKings Signs $3.5M Check to Back Missouri Sports Betting PAC"},"content":{"rendered":"

DraftKings last week plowed $3.5 million into a political action committee (PAC) pushing for legal sports betting in Missouri.<\/a><\/p>\n

\"DraftKings,
St. Louis Cardinals, fans pictured above. The Cards are one of Missouri\u2019s six professional sports teams backing the sports betting ballot initiative, along with DraftKings and FanDuel. (Image: LinkedIn)<\/figcaption><\/figure>\n

The Boston-based betting giant\u2019s largesse came just three days after the PAC, Winning for Missouri Education (WME), succeeded in getting an initiative on the November 5 ballot<\/a>.<\/p>\n

The proposed measure will ask voters whether they want to approve a constitutional amendment to legalize both land-based and online sports betting.<\/p>\n

Under the proposal, the first $5 million a year in state taxes from sports betting would go toward efforts to combat problem gambling, while the rest would be funneled into public education.<\/strong><\/p>\n

Missouri Secretary of State Jay Ashcroft (R) announced Tuesday that the signature-gathering campaign had met the threshold to qualify for the ballot, with some 171,592 validated signees.<\/p>\n

Will Missouri Vote for Sports Betting?<\/strong><\/h2>\n

Will Missourians back sports betting on November 5? The polls are all over the place. A study by Saint Louis University and YouGov found that 60% of respondents are in favor, while another one in June by Emerson College put the figure at just 38%.<\/p>\n

Campaign spokesman Jack Cardetti told The St Louis Post-Dispatch<\/em> that DraftKings\u2019 sudden cash injection would be used for educating Missourians about the initiative.<\/p>\n

Now that we are officially on the ballot, we\u2019ll be over the next two and a half months talking to Missourians across the state about why it makes sense to set up a legal sports betting framework that helps public education,\u201d Cardetti said.<\/p><\/blockquote>\n

If approved by voters, the measure would authorize the Missouri Gaming Commission (MGC) to issue sports betting licenses to the state\u2019s 13 riverboat casinos. Professional sports stadiums and arenas would also be eligible to apply for a license. Additionally, up to two online operators would be permitted to apply.<\/p>\n

Pro Sports on Board <\/strong><\/h2>\n

It\u2019s clearly enough to have whet DraftKings\u2019 appetite. It\u2019s estimated that a future Missouri sports betting market could be worth $290 million annually. Based on that figure, the blanket 10% tax proposed by the amendment would generate $29 million for state coffers in addition to $11.75 million in licensing fees.<\/p>\n

\n

WME has also been financially backed by FanDuel, as well as by the state\u2019s six professional sports teams \u2014 the St. Louis Cardinals, St. Louis Blues, St. Louis City SC, Kansas City Chiefs, Kansas City Royals, and the Kansas City Current.<\/p>\n<\/div>\n

\u201cOn behalf of all six of Missouri\u2019s professional sports teams, I would like to thank everyone who signed a petition to get this on the ballot. A vote for Amendment 2 in November is the right thing to do for both Missouri public schools and our favorite sports teams,\u201d said Cardinals President Bill DeWitt III in a statement.<\/p>\n","protected":false},"excerpt":{"rendered":"

DraftKings last week plowed $3.5 million into a political action committee (PAC) pushing for legal sports betting in Missouri. The Boston-based betting giant\u2019s largesse came just three days after the PAC, Winning for Missouri Education (WME), succeeded in getting an initiative on the November 5 ballot. The proposed measure will ask voters whether they want […]<\/p>\n","protected":false},"author":36,"featured_media":328404,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[83108,86430,61,86438,1074],"tags":[92073,81842,88876,92072,82675],"acf":[],"yoast_head":"\nDraftKings Signs $3.5m Check to Back Missouri Sports Betting PAC<\/title>\n<meta name=\"description\" content=\"DraftKings backing Winning for Missouri PAC on sports betting initiative. 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