DraftKings Contributes $3.5 Million to Missouri Sports Betting Legalization Effort

DraftKings. The Boston-based company’s parent entity, DK Crown Holdings, donated a substantial $3.5 million to the political action committee (PAC) spearheading the ballot initiative. This latest influx of funds was reported in a filing with the Missouri Ethics Commission on Friday.

Significant Fundraising Milestone

With the latest contribution, the PAC, named Winning for Missouri Education, has now raised over $10 million in its effort to bring legal sports betting to the state. The financial backing from DraftKings, one of the leading sports wagering companies in the nation, came just three days after the Missouri Secretary of State confirmed that the campaign had successfully gathered enough valid signatures to place the measure on the November ballot.

The proposed ballot initiative seeks to align Missouri with 38 other states, including seven of its eight neighboring states, by legalizing sports betting. The measure stipulates that funds generated from sports betting would be allocated toward public education and programs aimed at addressing gambling addiction.

If ed, the initiative would establish a legal framework for sports betting in Missouri, allowing both retail and online sports wagering. The state’s professional sports teams and its 13 casinos would be permitted to operate sports betting platforms under the regulation of the Missouri Gaming Commission. Additionally, the tax rate on sports betting would be set at 10%, with a portion of the gaming tax directed to the designated home-dock city or county for service-related costs.

The initiative has garnered widespread across the state, with backing from Missouri’s six professional sports teams: the St. Louis Cardinals, St. Louis Blues, St. Louis City SC, Kansas City Chiefs, Kansas City Royals, and the Kansas City Current. Major sports-betting companies FanDuel and DraftKings are also strong ers of the measure.

Cardinals President Bill DeWitt III, speaking on behalf of Missouri’s professional sports teams, expressed his gratitude to those who ed the initiative. “On behalf of all six of Missouri’s 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,” DeWitt stated.

Campaign Strategy and Voter Outreach

According to Jack Cardetti, spokesperson for Winning for Missouri Education, the funds raised will be used to educate voters on the benefits of the initiative. “Now that we are officially on the ballot, we’ll 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,” Cardetti explained.

The campaign’s strategy will focus on engaging voters across Missouri, highlighting how legalized sports betting could bring significant benefits to the state’s educational system and help address gambling-related issues.

Public sentiment in Missouri appears to be largely in favor of legalizing sports betting. A February survey conducted by Emerson College and a subsequent poll published in March by St. Louis University and YouGov found that over 60% of Missourians the initiative. The polls indicate bipartisan , with both Democrats and Republicans, as well as voters from rural and urban areas, backing the measure.

The results of these polls suggest that the campaign’s efforts to inform and mobilize voters could resonate strongly as the November vote approaches. With widespread from both the public and major stakeholders, the initiative stands a strong chance of ing, potentially making Missouri the latest state to legalize sports betting.

Source:

”DraftKings places $3.5M wager on sports betting voter initiative in Missouri”, stltoday.com, August 16, 2024.