DraftKings’ parent company, DK Crown Holdings, has contributed $3.5 million to the political action committee (PAC) advocating for the Missouri sports betting ballot initiative, according to recent filings with the Missouri Ethics Commission.
DraftKings’ donation comes after a constitutional amendment for legalized sports betting was certified for the Nov. 5 ballot
Last Tuesday, Secretary of State Jay Ashcroft certified a constitutional amendment for the Nov. 5 ballot that will ask voters whether to legalize and tax betting on major sporting events.
DraftKings’ donation is an effort to sway Missouri voters towards legalizing sports betting, giving the campaign a substantial financial boost. This latest contribution has propelled the PAC, named Winning for Missouri Education, beyond the $10 million mark in total fundraising proceeds.
The multimillion-dollar donation from the sports betting giant came shortly after Ashcroft confirmed that the campaign had gathered enough signatures to secure a spot on the upcoming ballot.
Winning for Missouri Education said it submitted more than 340,000 signatures in May to force a statewide vote.
Missouri would tax sports betting at 10% under the proposal
This proposed constitutional amendment would allow the Kansas City Chiefs, Kansas City Royals, Kansas City Current, St. Louis Blues, St. Louis Cardinals, and St. Louis City SC to have a license to accept bets on games.
Legalized sports betting would allow the state’s casino operators to be eligible for a license along with two online betting platforms. Missouri would tax sports betting at 10% under the proposal.
If passed by voters, the initiative would align Missouri with 38 other states that have already legalized sports betting, enhancing revenue streams for education and gambling addiction programs.
According to a recent poll, the majority of Missourians support legalized sports wagering. The poll released in March revealed that 60% of potential voters believe that betting on professional sports should be legalized. Approximately 25% were opposed, while the remaining 14% said they were unsure.
Voters will also decide whether to overturn the state’s abortion ban, raise minimum wage
Additionally, legislation to legalize sports betting has also been impeded by a dispute over video lottery terminals. The casino-like slot machines can be found across the state at bars, gas stations, and truck stops.
Lawmakers were divided on whether a sports betting bill should also regulate and tax the gas station slots. The proposed constitutional amendment would only legalize sports betting and does not address the video terminals.
Missouri voters will also decide in November whether to overturn the state’s ban on abortion and raise minimum wage. Ashcroft’s office certified both measures last week as well.
