GAME ON: Missouri’s gaming commissioner on sports betting rollout
Sports betting is now legal and live in Missouri. The state’s gaming commission breaks down when we can hear more about Missouri’s payout, and how they’re making sure it’s being done fairly.
FINALLY HERE. SPORTS BETTING IS NOW UP AND RUNNING IN THE STATE OF MISSOURI. GONE ARE THE DAYS OF DRIVERS PARKED ON KANSAS ON RAMPS TRYING TO GET THEIR BETS IN. THAT’S BECAUSE ACTUAL SPORTSBOOKS ARE NOW OPEN AT LOCAL MISSOURI CASINOS, AND APPS ARE NOW LIVE IN THE SHOW-ME STATE. WE SPOTTED A NUMBER OF BETTORS GETTING STARTED RIGHT AFTER THE LAUNCH. SPORTSBOOKS ARE HAPPY TO HAVE THEM. OFFERS US A CHANCE TO FOR OUR CURRENT CUSTOMERS TO GIVE THEM SOMETHING NEW, A LITTLE BIT, SOMETHING FRESH, DIFFERENT. THAT’S STILL IN OUR WHEELHOUSE, IF YOU WILL, BUT ALSO WELCOME CUSTOMERS THAT TRADITIONALLY HAVE NOT COME INTO OUR BUILDING. STAFFERS TELL US THEY’LL BE HAPPY TO HOST THE PEOPLE WHO USED TO CROSS INTO KANSAS TO PLACE THEIR BETS, WHO CAN NOW BE CLOSER TO HOME. YOU KNOW, THAT’S THE SENTIMENT AT LOCAL SPORTS BARS, TOO. CHARLIE HOOPER IS A BROOKSIDE IS A MILE FROM THE KANSAS BORDER, AND WORKERS SAY IT WILL BE NICE TO HAVE PEOPLE STAY PUT ON GAME DAY. IT GIVES PEOPLE A VESTED INTEREST TO KIND OF MAYBE WATCH A GAME THEY WOULDN’T NORMALLY PAY AS MUCH ATTENTION TO, AND ANYTHING THAT’S A LITTLE BIT OF FUN AND KIND OF KEEPS YOU IN YOUR SEAT A LITTLE BIT LONGER IS ALWAYS GOOD FOR US. IT COULD ALSO BE GOOD FOR MISSOURI. THE STATE’S CHARGING 10% ON THE ADJUSTED GROSS REVENUE FROM SPORTS BETTING OPERATORS, WITH THE MONEY GOING TOWARD REIMBURSING THE STATE GAMING COMMISSION FOR THE COST OF REGULATING SPORTS BETTING. WE’LL TALK ABOUT THAT IN A MOMENT. AFTER THAT, THE GREATER OF EITHER 10% OF THAT REVENUE OR $5 MILLION IS EARMARKED TO ADDRESS COMPULSIVE GAMBLING, AND THEN THE REST WOULD GO TO EDUCATION SPREAD OUT AMONG SCHOOL DISTRICTS ACROSS THE STATE. STATE GAMING COMMISSION SAYS IT’S TOO SOON TO SAY EXACTLY HOW MUCH REVENUE THE STATE WILL SEE, BUT INITIAL ESTIMATES PUT IT BETWEEN 20 AND $28 MILLION A YEAR. LET’S GET A PROGRESS REPORT WITH JEN ZIMMERMAN, CHAIRMAN OF THE MISSOURI GAMING COMMISSION. WELCOME BACK. THANKS FOR BEING HERE. AFTER A BUSY WEEK LAST WEEK. FIRST OFF, YOU MET WITH YOUR TEAM IN JEFF CITY A COUPLE DAYS AFTER THE ROLLOUT. HOW DID THAT GO? WHAT WERE THE TAKEAWAYS? WELL, IT WAS GOOD. AND YOU KNOW, WE WERE ANTICIPATING, YOU KNOW, HEARING ABOUT HOW THE LAUNCH WENT AT MIDNIGHT ON SUNDAY NIGHT. BUT STAFF CONFIRMED NO PROBLEMS. THE LAUNCH WENT AS WE HAD EXPECTED. AND ALL OF THOSE PROVIDERS, THE SUPPLIERS AND THOSE APPS THAT OUR CITIZENS WILL BE USING ALL WORKED LIKE THEY WERE SUPPOSED TO. WE SAW THE AD BLITZ RIGHT BEFORE EVERYBODY WAS TRYING TO GET PEOPLE ONLINE. HOW WERE THE NUMBERS? HOW WAS THE INTEREST ON ON THE FIRST WEEK? WELL, AND WE GOT A REPORT WHILE WE WERE IN JEFF CITY ON TUESDAY FROM GEO COMPLY. YOU KNOW, 2.6 MILLION. GEO LOCATES YOU KNOW ON SPORTS WAGERS AND THAT’S PEOPLE ON THEIR APP ON ON THEIR APP. AND YEAH. AND THEN ANOTHER 250,000 THAT ACTUALLY, YOU KNOW, WERE ON THE APP AND AND LOOKING AT MAKING A WAGER. SO WE’RE GOING TO BE REALLY INTERESTED IN GETTING THAT INFORMATION, WHICH WE WILL GET ON THE 15TH OF EACH MONTH FOR THE PREVIOUS MONTH. SO IN MID JANUARY WE’LL KNOW HOW WE DID IN DECEMBER. INTERESTING. IS THERE ANYTHING YOU’D LIKE TO SEE FINE TUNED MOVING FORWARD FROM WHAT YOU’VE WELL, YOU KNOW, UNFORTUNATELY AND I KNOW WE TALKED ABOUT THIS BEFORE THAT BECAUSE OF THE INITIATIVE PETITION WAS A CONSTITUTIONAL AMENDMENT. WE DON’T GET TO FINE TUNE TOO MUCH. BUT, YOU KNOW, CERTAINLY WE HAVE GREAT PARTNERSHIPS, YOU KNOW, WITH ALL OF THOSE PROVIDERS. AND AS WE WADE THROUGH ALL THE LICENSE APPLICATIONS, THERE’S ABOUT 2500 OF THOSE THAT WE WILL NEED TO VET THOSE INDIVIDUALS AND THOSE COMPANIES THAT HAVE APPLIED FOR LICENSURE. YOU KNOW, WE WILL BE FINE TUNING IF SOMEONE IT’S NOT APPROPRIATE THAT THEY RECEIVE A LICENSE. YOU MENTIONED THE AMENDMENT, AND WE TALKED ABOUT THIS LAST YEAR BEFORE THE ELECTION, BEFORE THE AMENDMENT WENT TO THE VOTERS. WE DID, YOU KNOW, WRITTEN INTO THIS AMENDMENT ARE A NUMBER OF SITUATIONS THAT KIND OF LET SPORTS BETTING COMPANIES WRITE OFF SOME OF THEIR EXPENSES. OR, YOU KNOW, CRITICS WOULD SAY THEY’RE AVOIDING PAYING TAXES. YOU KNOW, THEY ARE ALLOWED TO DEDUCT. WAS IT UP TO 25% OF THE GROSS COST OF THEIR PROMOTIONAL CREDITS? AND WE HAVE SEEN I MEAN, THIS WHOLE THING IS A PROMOTIONAL PROMOTION. SO HOW DO YOU, AS A REGULATORY BODY, MAKE SURE THAT THE MONEY IS COMING IN TO MISSOURI? AND HOW DO YOU STAY ON TOP OF THAT? WELL, AND AND OF COURSE, YOU KNOW, WE HAVE AUDITORS AND WE HAVE HIRED A NUMBER OF PEOPLE WHO THAT WILL BE THEIR SOLE JOB WITH THE GAMING COMMISSION. WE HAVE AN INDIVIDUAL WHO IS OUR SPORTS WAGERING MANAGER, AND HE HAS TWO AUDITORS THAT WORK FOR HIM. AND SO IT WILL BE THEIR JOB, YOU KNOW, STAYING ON TOP OF OF THOSE INDIVIDUALS AND COMPANIES, MAKING SURE THEY’RE FOLLOWING THOSE RULES. THIS IS A MULTIBILLION DOLLAR INDUSTRY. BUT, YOU KNOW, HOME TEAMS, THEIR SUCCESS. I HAVE TO FEEL DICTATES THE MARKET A LITTLE BIT. RIGHT. HOW DO YOU HOW DOES THAT PLAY A ROLE? WELL, IT PLAYS A HUGE ROLE. YOU KNOW, I ASSUME THAT, YOU KNOW, INDIVIDUALS ARE BETTING ON THOSE TEAMS THAT THEY’RE PASSIONATE ABOUT. AND, YOU KNOW, WHETHER IT’S IT’S A HOME TEAM HERE IN THE STATE OF MISSOURI OR INDIVIDUALS WHO LIVE HERE IN MISSOURI THAT ARE PASSIONATE ABOUT, YOU KNOW, OTHER TEAMS THAT ARE DOING WELL ACROSS THE COUNTRY. AND, YOU KNOW, SO FOOTBALL AND WE’RE COMING, YOU KNOW, CLOSE TO THE END OF THE FOOTBALL SEASON, WE HOPE NOT. I HOPE NOT, I HOPE NOT. I’M WEARING MY RED TODAY. SO BUT YOU KNOW, WE WILL GET A GOOD FLAVOR, YOU KNOW THROUGH JANUARY OF OF YOU KNOW HOW HOW PEOPLE ARE WAGERING, YOU KNOW, BASED ON THE SUCCESS OF OUR TEAM’S FANS WHO COMPLAINED THAT THEY COULDN’T BET ON THE CHIEFS IN THE SUPER BOWL THIS YEAR. HOPEFULLY THEY HAVE A SHOT IN FEBRUARY. FINGERS CROSSED. JACKSON MARION WITH THE MISSOURI GAMING COMMISSION. THANK YOU. REMEMBER, MISSOURI HAS A PROBLEM GAMBLING HELPLINE READY TO GO. JUST CALL THIS NUMBER 888. BET’S OFF. IT’S AVAILABLE 24 OVER SEVEN WITH SUPPORT, RESOURCES AND REFERRAL
GAME ON: Missouri’s gaming commissioner on sports betting rollout
Sports betting is now legal and live in Missouri. The state’s gaming commission breaks down when we can hear more about Missouri’s payout, and how they’re making sure it’s being done fairly.
