DraftKings Contributes Another $5 Million to Missouri Sports Betting Campaign

efforts to legalize sports betting in Missouri, adding another $5 million to the “Winning for Missouri Education” campaign. This recent contribution brings DraftKings’ total financial for the initiative to over $10 million. The latest donation was made on September 17, as reported in a document released by the Missouri Ethics Commission on September 18.

This substantial contribution underscores the significance of Amendment 2, the ballot initiative that will decide whether sports betting, both online and at retail locations, will become legal in the state. If ed by voters in November, the amendment would grant Missouri’s 13 casinos the right to launch sports betting operations, while professional sports stadiums would also gain the ability to operate sportsbooks. Additionally, the amendment would authorize two independent, mobile-only platforms, increasing the range of options for bettors in Missouri.

The Push for Legal Sports Betting in Missouri

The “Winning for Missouri Education” campaign, which is spearheaded by a coalition of six major sports teams, is a key player in advocating for the legalization of sports betting in Missouri. Among the ers are the St. Louis Cardinals and Kansas City Royals from Major League Baseball, and the NFL’s Kansas City Chiefs. In total, the campaign has raised $16.5 million since its inception earlier this year, with significant contributions coming from both DraftKings and its chief rival, FanDuel. FanDuel has already donated more than $3 million to the campaign.

This initiative is also backed by the Sports Betting Alliance (SBA), which includes industry giants such as BetMGM, Fanatics, FanDuel, and DraftKings. Their united front emphasizes the importance of legalizing sports betting, particularly in light of Kansas’ efforts to lure Missouri’s professional sports teams across the state border.

Polling data has shown moderate for the measure, with a majority of voters under the age of 50 in favor of legalization. An Emerson College poll conducted in mid-September showed that 68.4% of those surveyed in the 30-39 age group would vote in favor of the measure. However, wanes among older voters, with less than half of those aged 60 and above backing the initiative.

Opposition from Caesars Entertainment

While several prominent operators the legalization of sports betting, opposition group was formed following a legal challenge to Amendment 2, which was ultimately dismissed by a Circuit Court judge in early September.

Caesars, which owns several brick-and-mortar casinos in Missouri, including Tropicana St. Louis and Harrah’s North Kansas City, has expressed concerns over the specifics of the proposed amendment. One of the key issues for Caesars is the provision allowing only one skin, or betting platform, per casino operator, a limitation that restricts the potential for expansion. Previous legislative proposals had included the possibility of allowing up to three skins per location, which would have provided more opportunities for operators like Caesars to increase their presence in the sports betting market.

MADOGA’s spokespersons have also argued that the potential financial benefits to public education, a significant selling point for Amendment 2 ers, are not guaranteed. They warn that the revenue generated from legalized sports betting may not meet the high expectations being set by proponents of the initiative.

A Contentious Vote Ahead

As the November vote approaches, both sides of the debate are ramping up their efforts. With a combined total of over $20 million already spent on the campaigns, Amendment 2 is shaping up to be one of the most expensive ballot initiatives in Missouri’s history. DraftKings’ latest contribution of $5 million highlights the company’s commitment to seeing sports betting legalized, while Caesars’ opposition raises questions about the future landscape of Missouri’s gambling market.

Missouri’s voters will ultimately decide the fate of Amendment 2 in November, but the outcome remains uncertain. With public opinion divided and both sides pouring millions into their respective campaigns, the decision could come down to a slim margin.

Source:

DraftKings adds another $5m to effort to legalise sports betting in Missouri, igamingbusiness.com, September 18, 2024.