Missouri is the latest in a long line of jurisdictions where a lot of money is flowing into the state from gaming companies over the possible introduction of sports betting. It is presently estimated that approximately $45 million will be spent on Amendment 2 by gaming interests. Amendment 2 would authorize sports betting.
There are curiosities about Amendment 2. First, gambling companies are on both sides of the measure. Secondly, it is suggested that the amendment’s passage will lead to higher levels of funding for education. That, however, like many things in life, is not guaranteed.
It also has some twists and turns, suggesting that no one who drafted the amendment had much respect for economics to guide public policy. Like so many states, there appears to be a material disdain in Missouri for free-market forces to have much influence on how the industry evolves, and the tax rate is low by national standards.