Missouri sports betting is nearing its launch, and the state’s regulator has closed the application period for companies seeking licenses.
The deadline for applications was September 12, and at least nine companies have been confirmed to enter the market.
Sports betting in Missouri is due to launch at the start of December this year. Residents narrowly voted in favor of legalization in November last year. Under the new regulations, bettors can wager on esports in addition to other major sporting events.
Two untethered licenses have already been confirmed as going to DraftKings and Circa Sports. The latter was a surprise choice with the Missouri Gaming Commission (MGC) selecting Circa over FanDuel.
Missouri has again edged closer to the launch of official sports wagering. Image Credit: SpaceX / Unsplash
Sportsbooks Confirm Licenses
FanDuel quickly moved to make a deal with Major League Soccer team St. Louis City after failing to secure an independent license. Untethered licenses cost twice as much as tethered ones, but operators benefit from not having to share revenue with partners.
The companies that have secured licenses are as follows:
- DraftKings (untethered)
- Circa Sports (untethered)
- FanDuel (partnership with St. Louis City)
- Bet365 (partnership with St. Louis Cardinals)
- BetMGM (partnership with Century Casinos)
- Fanatics (partnership with Boyd Gaming)
- Caesars (through its Missouri casinos)
- PENN (through its Missouri casinos)
- Underdog (unconfirmed partnership)
Companies had the choice to apply for an untethered license or partner up with one of the state’s sports teams or casinos. No company has yet confirmed a deal with the Kansas City Chiefs, Kansas City Royals, or the St. Louis Blues.
BetRivers confirmed it will not be launching in the state for now, with parent group Rush Street Interactive having no land-based casinos in Missouri.
Hundreds of Companies Apply For Licenses
In total, the state’s new sports betting laws allow 19 retail sports betting licenses and up to 14 online sports betting licenses.
Although the application period has officially ended, the MGC said it will accept any post-dated applications.
The Commission’s chair, Jan Zimmerman, said it has received around 800 applications and counting. He added, “This number is increasing every hour, and an update will be available later in the week”.
The MGC will review applications and hear from applicants at two scheduled meetings on September 23 and 24. The regulator will then issue the remaining licenses at the end of October.
This gives companies just over a month to prepare for the December 1 launch. In anticipation of sports betting becoming legal, Google has already started to allow gambling ads in Missouri.
Charging a tax rate of 10% on revenue, the state expects legal sports betting to generate around $30 million for the state in its first year.