After the proposed regulations, the Missouri daily fantasy sports market could bring USD 10 million annually.
“It’s not that much money,” said Senate Minority Leader, Joe Keaveny about the estimated annual tax revenue the Missouri daily fantasy sports market could generate. On May 10, the Missouri Senate approved a bill that would regulate online daily fantasy sports in the state. Daily Fantasy Sports operators would have to pay 21 percent tax on their gross revenues, the same amount as Missouri casinos pay. “I don’t want to create a new special tax for fantasy sports,” said Rep. Scott Fitzpatrick.
Missouri Daily Fantasy Sports revenues would go towards education
“We’re trying to regulate an industry that has previously not been regulated,” said Keaveny, who’s the main sponsor of the bill. The bill came after Gov. Jay Nixon’s call for regulation in January. “Let’s get real: This is gambling, kids are playing, and it’s completely unregulated,“ said Nixon, who want’s all the tax revenues from daily fantasy sports to go towards education. Keaveny urges the bill to pass as daily fantasy sports have “the potential to take a lot of people’s money.”