Last updated on December 22nd, 2018 at 09:22 pm
2018 has been an important year in the goal to legalize sports betting in the US. A lot of pay per head providers have long advocated for an open sports betting market in the US due to the large market that is involved- gambling industry news sites always report on the growing sports betting markets across the globe, and the US is always on the top tiers of the list.
Since the ban on sports betting was repealed mid of this year, states have started taking steps to legalize and regulate the sports betting markets in their respective states. Some are fast, and are now collecting revenues in the form of taxes and licensing fees from operators. Others are taking the time to pass legislation to do more research, or to deal with local politics to get their bills passes.
Legalize Sports Betting in Missouri and Ohio
Currently, there are 8 states in the US that have regulated sports betting markets. There are a few that have legislation on the way. Others are following suit. Ohio and Missouri are two states that may join the list. These states are both considering allowing sports betting. Not only that, but they are also amenable to giving sports leagues integrity fees.
Missouri has Senate Bill 44 that allows sports betting in floating casinos and in online platforms. There is a planned 12% tax on adjusted gross receipts, plus a 2% administrative fee, and .5% integrity fee. Licenses are $10,000 plus a $5,000 integrity fee.
As for Ohio, their state senator Bill Coley is looking for a multi-state bill on sports gambling that will allow a quarter of 1% integrity fee. He argues that this will greatly benefit leagues and increases the value of franchises.
Integrity fees are a controversial topic since these fees take away profit from operators. Sports leagues, however, argue that the industry would be nothing without their leagues, so they deserve a percentage of money made off of their teams. So far, none of the states with legalized sports betting show any mention of integrity fees.