The US Senate to hold a hearing on sports betting
The US Senate Committee scheduled a major hearing called "America's High-Stakes Bet on Legalized Sports Gambling" for December 17 at 10 am.The hearing will focus on the...
Sports betting wins approval in Missouri
After facing different challenges and opposition, Missouri voters narrowly approved the ballot measure to legalize sports betting in the state.
The debate on whether to legalize sports betting in Missouri has been active for almost five years. Earlier this year, in September, it became known that the future of the industry will be defined in November. Now, after voters’ approval, the Missouri Gaming Commission is working on the regulatory framework, aiming to launch legalized sports betting by late spring or early summer 2025.
Measure supporters raised $43 million in funding to support the measure. Industry top players, DraftKings and FanDuel were the biggest contributors, with $14 million, $5 million of which is only from DraftKings.
Another supporter of the measure, St. Louis Cardinals President Bill DeWitt III, said:
“Joining the 38 other states that already allow sports betting will allow us to further engage with our fans while keeping tens of millions in Missouri for the benefit of our classrooms and communities.”
What will bring legalized sports betting to Missouri?
The new law will allow each casino and professional sports team in Missouri to offer both in-person and mobile betting. Sports teams will have exclusive control over betting activities within 400 yards of their stadiums. Moreover, two mobile operators will be licensed directly by the Missouri Gaming Commission. A 10% tax on betting revenue will support education and problem gambling programs, with at least $5 million annually set for responsible gambling initiatives.
Sports betting revenues in New York make history with $2.32B
According to the data provided by the New York State Gaming Commission, the mobile sports betting market hit a record-breaking $2.3 billion in October bets.In October,...
