DraftKings Donates $5 Million to Support Missouri Sports Betting Ballot Initiative

The Show-Me State’s current sports betting ballot initiative just got a big boost ahead of the November election.

DraftKings has donated another $5 million to the Winning for Missouri Education group, supporting the effort to legalize sports betting in the state. The money will be used for a campaign to get Missouri residents to vote in favor of legalizing sports betting. The group is responsible for getting the topic on the ballot, which overcame a legal challenge in September.

The donation is the latest of several made by DraftKings over the last few months.

FanDuel and DraftKings Continue to Fund Effort

DraftKings and FanDuel have been helping fund Winning for Missouri Education for some time. Missouri represents a large Midwest market that, if the initiative succeeds, could make the millions donated well worth it. 

While more potential revenue is a crucial driving factor for the industry giants’ decision to fund the group, it isn’t the only one. Several US markets are still yet to legalize some form of sports betting, mainly due to legislative roadblocks. Missouri’s effort to bring the topic directly to the voters could be a roadmap for those markets to follow, especially knowing operators are willing to help.

If the industry is legalized, both sportsbooks will look for partnerships with pro sports teams within the state. DraftKings and FanDuel are building relationships with those teams through donations, giving them an inside track. 

Caesars Stands Against Current Initiative

While FanDuel and DraftKings eagerly support the current sports betting initiative, Caesars has taken the other side. The operator currently has a few casinos in the state but seems to have concerns over the number of sportsbook skins it would be allowed to have under the current proposal.

Caesars has made several donations to the Missourian Against the Deceptive Online Gambling Amendment group, which is working to prevent legalization. The group is organizing ad campaigns to warn residents of the dangers of the current proposal.

Big Projections for Missouri Market

Eilers & Krejcik Gaming recently funded a study to generate revenue projections for a legal sports betting market. The study indicated that the state could see over $500 million in gross gaming revenue over the first five years. That would mean over $100 million in tax revenue for Missouri’s public education system.