Like most things . . . The payout isn't as much as promised . . .
In 2023, Kansans took full advantage of the chance to bet on sports. They bet $194 million in February alone.
Even so, the state collected just $1,134 in tax revenue on those February bets.
Such paltry returns on the state’s new billion-dollar sports betting industry have appalled some Kansans, and now Missourians head to the polls in November with a chance to legalize sports betting. If they do, Missouri will likely see similarly large disparities between the volume of bets and how much money goes into state coffers.
Read more via www.TonysKansasCity.com link . . .
Missouri could legalize sports gambling. How much tax revenue could it generate?
During the Super Bowl, money changes hands based on the result of almost everything - the coin toss, the color of Gatorade dumped on the winning coach and even the length of the national anthem. Kansas' attempt to cash in on sports betting has yielded paltry results so far, and Missouri voters are considering a similar measure this November.
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