Leading sportsbook and fantasy betting brand DraftKings is hoping voters in the Show-Me state back the Amendment 2 referendum in the upcoming November elections. And on September 5, 2024, DraftKings contributed $5 million to the lead political sponsor of the ballot, Winning for Missouri Education. This is coming only weeks after contributing $3.5 million in August.
DraftKings’ interest in Amendment 2 is pretty par for the course. The public vote, if successful, is a pro-gambling initiative that will enable a constitutional amendment to legalize and regulate sports wagering in Missouri. Simply put, this amendment will allow the state’s existing 13 casinos to offer retail and online sports betting services.
So, it is unsurprising that DraftKings has recently cut the biggest check in support of sports betting in Missouri. In a similar sequence of events, FanDuel has also joined the cause with both gambling giants having made over $15 million in donations to the campaign.
Amendment 2 Proponents Want Missouri on Par with Sports Betting Neighbors
Missouri can prove to be a viable market for sports betting companies hoping to tap into its potential to generate high revenue. Various stakeholders supporting this bill believe that it will enable the state to compete with its counterparts, like Illinois and Kansas, which have already legalized sports betting.
Amendment 2 is a bill proposed by Missouri citizens after state lawmakers in Jefferson refused to compromise on a sports betting bill. In fact, many Missourians blame State Sen. Denny Hoskins (R-Warrensburg) for the legislative impasse the state currently finds itself in. However, Hoskins maintains that he is not exactly against sports betting but insisted that it must be well-regulated.
Regardless, stakeholders see the lack of compromise as a politician’s politicking. To them, this is simply the attempt of some people who do not want slot machines gone in gas stations, thereby limiting the state’s potential. Taking matters into their own hands, Winning for Missouri Education canvassed and gained enough signatures from citizens to create a referendum.
Voters will decide by simple majority referendum scheduled for November 5. This day is iconic and could potentially set the stage for a major shift in the state’s gambling landscape. Adherents believe that the state can channel the funds from the sports betting industry to education, public services, and other critical needs.
Although Amendment 2 only needs a simple majority to pass, the voters appear to be quite divided across polar lines. While some have various arguments to support it, there are also voices that strongly oppose this bill.
Caesars Remains Antagonistic to Amendment 2 Despite Financial Push from Competitors
Caesars Entertainment, one of the six commercial casino operators in the Show-Me State, is one of the leading opposition voices. To them, Amendment 2 is a plot by “out-of-state corporate sponsors” who seek the financial benefits of operating within state lines without investing directly in Missouri.
However, many believe this opposition is more of a strategic move. Caesars states that Amendment 2 can potentially disrupt the state’s existing casino landscape. Remember, they already have a foothold in the system.
One of the major arguments against the amendment is its potential to divert attention from casinos and drive their customers into sports betting. As such, these established businesses will greatly lose money.
They also believe that the bill can create vulnerability in the system and harm the reputation of Missouri’s well-established gaming environment. Overall, Caesars argument against Amendment 2 is its possibility to undermine the integrity of the Missouri gaming sector.
As such, Caesar positions itself as a staunch protector of the present Missouri gaming sector. The company currently throws its weight behind the opposition committee known as Missourians Against the Deceptive Online Gambling Amendment. Caesars has contributed about $4 million to ensure that Amendment 2 never becomes a reality. One of the contributions came a few days before DraftKings cut the $5 million check.