Research company Eilers & Krejcik Gaming has released a 23-page report highlighting the potential benefits of legalizing sports betting in Missouri. The study argues against the state’s “conservative estimates” and supports the Winning for Missouri Education coalition’s stance that sports betting could provide substantial tax revenue for the state’s public schools.
“Our study shows that Missouri has the potential to create a competitive, fast-growing sports betting market,” Eilers & Krejcik Gaming’s managing director Chris Krafcik told Covers.
The report predicts that the Missouri sports betting market would generate $3.4 billion in handle, $47.5 million in taxable revenue, $4.7 million in taxes and a 9.8 percent hold, all in its first year. It also predicts that in five years, the state’s education fund would receive $105 million in tax dollars.
“The numbers speak for themselves – legalized sports betting will bring in millions of dollars that could be used to improve our schools and invest in Missouri’s future,” Winning for Missouri Education spokesperson Jack Cardetti told Covers. “While Missouri continues to lose revenue to neighboring states that have already embraced sports betting, this ballot measure will help us bring those tax dollars back home, benefiting our students and educators.”
The report comes after the Missourians Against the Deceptive Online Gambling Amendment released its argument against legalizing sports betting in Missouri this month.
Some of the industry’s biggest operators are getting involved in the debate. This week, DraftKings contributed $5 million to the Winning for Missouri Education initiative, while Caesars Entertainment pledged $4 million to the MADOGA campaign.
