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In somewhat of a surprise move, a gambling company opposes a sports betting initiative.
It's happening in Missouri and Caesars Interactive is behind the efforts.
From Matthew Kredell of PlayUSA.com:
The campaign funding, submitted Sept. 13, came the same day the first opposition commercial aired in Missouri. The commercial focused on the “big out-of-state gambling corporations” looking to benefit from passing Amendment 2.
Caesars previously had partnered with those same online gaming companies in pushing for legalizing online sports betting through the Missouri legislature.
How to Be a Baseball BookieJust think about it, on average there are 162 regular MLB game per season. If a gambler bets $100 on one team per season with a 10% vig, you can earn $1,620 from them. Multiply that by the number of friends you have that follow baseball and it can become quite high. |
Caesars is putting big money behind the opposition.
PlayUSA points to a filing with the Missouri Ethics Commission whereby Caesars entities funded the Missourians Against the Deceptive Online Gambling Amendment campaign with $4 million.
So what's the rationale?
A Caesars representative declined to explain the company’s initiative opposition at this time. However, sources indicate Caesars is concerned about potentially being limited to one mobile app in the state and the precedent it would set for possible future Missouri online casino legalization.
Six casino companies operate 13 casinos in Missouri. Other Missouri casinos that supported the legislative efforts haven’t joined the opposition but also aren’t part of the coalition supporting the initiative.
The legislation supported by Caesars permitted each casino to have three skins, with a maximum of six per casino company.
Missouri is home to the Super Bowl champion Kansas City Chiefs as well as the St. Louis Cardinals MLB team.
Stay tuned.
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