BOONVILLE - High-rollers can now bet the farm in Missouri after 56 percent of voters voted in favor of Proposition A.
Supporters of Proposition A promise two things: possibly more money for casinos through the end of loss limits and more money for Missouri schools through the higher taxes casinos will have to pay.
"The Department of Secondary and Elementary Education, in it's own analysis, has shown that Proposition A helps schools to the tune of millions of dollars for every county over the coming years," said spokesperson for Prop A Scott Charton.
Casino taxes will increase from 20 percent to 21 percent. The end of loss limits means gamblers can spend more. Missouri is the last state to eliminate the "loss limit" rule, where gamblers could only buy $500 worth of chips in a two-hour period.
The elimination of this rule is expected to bring a 30 percent increase of tourists, which means more more money for casinos, and more money for schools. About 80 percent of Missouri's elementary and secondary schools would benefit. For example, schools in Boone County would get $3.3 million dollars.
Still, one Columbia school district official is wary.
"We'll wait and see," said Assistant Superintendent Lynn Barnett.
Barnett says if the money comes, the Columbia School District will be ready to use it.
"We will welcome money no matter where it comes from," Barnett said. "Certainly we will be able to use more revenue if it comes."
The tax increase and elimination of the "loss limit" rule on gamblers will happen once the the Secretary of State certifies election results, most likely in early December.
Reported by Julia Harmon