Missouri’s sports betting market is starting to take shape, albeit with a modest start, as only two operators have submitted applications since the Missouri Gaming Commission began accepting bids in mid-May.
According to an SBC Americas report, DraftKings and Underdog are the lone applicants to date for a market offering up to 19 retail licenses and 14 online licenses.
“We’ve had a longstanding and collaborative relationship with the Gaming Commission, including securing a license for our fantasy sports offerings in the state,” Stacie Stern, Underdog Fantasy’s senior vice president of government affairs and partnerships, told SBC Americas. “We’ve submitted a strong application for a sports betting license and look forward to continuing to work closely with the Commission throughout the review process.”
Underdog operates its sole online sportsbook in North Carolina, though it has secured the rights to launch in Colorado and Ohio.
Under Missouri’s laws, operators can pursue one of two untethered “direct” licenses or partner with the state’s six professional sports teams or 13 brick-and-mortar casinos. Each casino is eligible for up to two skins.
Applications for the two direct untethered online sports betting licenses are due July 15, with the timeline dictating they will be awarded Aug. 15. All other applications must be signed, sealed, and delivered by Sept. 12. The state plans to launch sports betting in December.
Plenty more to join
Several major operators appear positioned to enter but haven’t yet filed applications. BetMGM, which secured market access through a partnership with Century Casino & Hotel Cape Girardeau, told SBC Americas it is preparing with plans “to satisfy all requirements to be ready to launch on Day 1.”
FanDuel and Fanatics declined to comment when contacted by SBC Americas, though it would be a complete surprise if they didn’t belly up to the bar. Bet365 also didn’t respond to requests to chat but seems likely to apply given its March partnership with the St. Louis Cardinals.
Other potential-to-probable entrants include operators tied to Missouri’s existing casino infrastructure. ESPN Bet and Hollywood Casino owner PENN Entertainment, Bally’s, Boyd Gaming, and Caesars all own or operate land-based casinos in the state.
Sports betting will be taxed at 10%, and mobile licenses cost $500,000 for five-year terms.
Missouri voters narrowly approved legal sports betting last November, setting up what could become a significant Midwest market when it launches Dec. 1.
