Missouri Sees Record Campaign Contributions as Sports Betting, Casino Votes Loom
Missouri is seeing record-breaking campaign contributions as voters prepare to decide on two key ballot measures related to sports betting and casino expansion. States Newsroom reports that gaming operators, as well as those for and against gambling, are pushing the envelope when it comes to their lobbying efforts.
Voting booths in front of a window at a polling station. (Source: The Missouri Times)
LISTEN TO THIS ARTICLE:Amendment 2, which would legalize sports betting in the state, has drawn significant financial backing from online betting platforms, particularly DraftKings and FanDuel. These companies have poured $32 million into the campaign so far, making it the most well-funded ballot measure campaign in the state's history. The previous record for campaign donations in Missouri was set in 2006 when supporters of a proposal to protect stem cell research raised $31 million.
Related: New Casino in Missouri Now up to VotersOpposition to Amendment 2 is also receiving substantial financial support. Caesars Entertainment has contributed $14 million to defeat the proposal, citing concerns over the terms of the deal. Caesars, which operates its own online sports betting platform and employs 2,000 people in Missouri, has expressed dissatisfaction with the initiative, which would largely benefit online platforms that do not have a significant physical presence in the state.
The campaign for Amendment 5, which seeks to authorize the construction of a new casino at the Lake of the Ozarks, has also attracted considerable attention. So far, the campaign has raised $9.4 million, bringing the combined total of contributions for both ballot measures to more than $55 million. These figures underscore the high stakes of the upcoming vote, as gambling interests and other stakeholders invest heavily in shaping the outcome of the election.
One of the key arguments presented by supporters of Amendment 2 is the potential economic benefit for Missouri's education system. The campaign, known as Winning for Missouri Education, has centered its messaging on the promise that legalized sports betting would generate more than $100 million in revenue for education programs over the first five years of implementation. This focus on education funding has been a common theme in the state's major gambling-related campaigns, with all three major efforts linking their proposals to increased financial support for schools.
More Business News
Critics Decry Imbalance
Despite the significant financial backing from DraftKings and FanDuel, Missouri's major professional sports teams have not contributed any funds to the Amendment 2 campaign. Although these teams initially voiced their support for legalizing sports betting, their lack of financial involvement has raised questions about the depth of their commitment to the issue. In contrast,
Critics of Amendment 2, such as the group Missourians Against the Deceptive Online Gambling Amendment, argue that the proposal is designed to favor large online platforms that have minimal ties to the state. According to the group's spokeswoman, Brooke Foster, these companies stand to gain the most from the measure, while Missouri-based businesses may be left at a disadvantage. This argument has been a central point in the opposition's campaign, which seeks to highlight the potential negative consequences of allowing out-of-state operators to dominate the local market.
The campaign for Amendment 2 has introduced a new line of reasoning. Winning for Missouri Education is now emphasizing that sports betting is already happening in the state, but Missouri is not benefiting from it.
The campaign points out that hundreds of thousands of Missourians have already created accounts with online sports betting platforms, and many are placing bets by crossing into neighboring states where sports betting is legal. Currently, every state bordering Missouri except Oklahoma has legalized sports wagering, making it easy for residents to place bets without contributing to the state's economy.
The competition between the gambling-related ballot measures and the campaigns for statewide office has also attracted attention. So far, candidates for statewide office have spent $13.1 million on broadcast time, while the campaigns surrounding sports betting and casino expansion have spent $13.7 million.
RELATED TOPICS: Business
Latest News
Responsible Gambling
Parlays, Pressure, and Addiction - The Risks of Modern Sports Betting
Dec 20, 2024Most Read
Must Read
Interviews
When Helping Others Is a Life-Long Mission - An Interview with Gordon Moody CEO, Monica Shafaq
Dec 17, 2024
Interviews
Review this New Post
Leave a Comment
User Comments
Comments for Missouri Sees Record Campaign Contributions as Sports Betting, Casino Votes Loom