At least ten online sportsbook operators are preparing for the final rush as Missouri’s sports betting market is set to launch on December 1. The Missouri Gaming Commission has confirmed that ten sportsbooks have already submitted their applications for sports betting operator licenses, with the deadline having passed last Friday. However, the commission mentioned it will accept applications postmarked by September 12, which may increase the number of contenders. By the end of the deadline day, the MGC had received a total of 734 applications from operators and suppliers.
The commission plans to issue temporary licenses on October 22. Once the temporary licenses are granted, online sportsbook operators will be able to start customer signups and accept deposits starting November 17. Assuming all necessary requirements for internal controls and house rules are met, operators can commence live wagering at the stroke of midnight on December 1. This will mark the first new U.S. market to go live since North Carolina’s online sportsbooks became operational in March 2024.
The application window opened on May 15, with the September deadline tailored for operators aiming to be operational by the December 1 launch. DraftKings and Circa successfully secured untethered licenses after clinching a competitive bidding process last month. FanDuel, despite its strong presence in the U.S. sports betting market, did not manage to secure an untethered license as the commission appreciated the “different types of bettors” Circa could draw.
The list of operators includes Bet365, BetMGM, Caesars, Circa, DraftKings, ESPN Bet, Fanatics, FanDuel, Kambi, and Underdog. Although the application deadline has passed, hopeful operators still have several steps to complete. The commission has scheduled meetings on September 23-24 to deliberate on the applications. By September 26, applicants are required to submit details on house rules and internal controls.
The state of Missouri will impose a 10% tax on sports betting revenue, situating itself within a competitive range compared to neighboring states. The anticipation in Missouri is palpable as the market prepares to open, with industry insiders suggesting that the state could see substantial revenue inflows given its avid sports fan base.
Following its unsuccessful bid for an untethered license, FanDuel has announced a partnership with Major League Soccer’s St Louis City SC. Meanwhile, Bet365 has aligned itself with Major League Baseball’s St Louis Cardinals, a team that was instrumental in guiding the 2024 ballot initiative that ultimately legalized sports betting. The Cardinals, along with other professional sports teams in Missouri, spearheaded the initiative after years of legislative gridlock on the issue. Sports betting gained approval by a thin margin, with just over 50% of voters backing the measure in November 2024.
BetMGM has entered a partnership with Century Casinos, while Fanatics has teamed up with Boyd Gaming, which operates two Ameristar Casino locations in Missouri. Penn Sports Interactive is seeking a license for ESPN Bet via its Hollywood Casino and River City Casino venues, while Caesars is pursuing its license through Harrah’s Kansas City and Horseshoe St Louis casinos. Notably, both the Hollywood Casino and Harrah’s locations are primed to offer in-person sportsbook experiences.
The decision for some operators to partner with local sports teams highlights a strategic move to tap into the loyalty of Missouri’s sports fans. A representative from one of the operators reportedly remarked on the importance of connecting with local sports culture and fans’ loyalty, underscoring the significant role such partnerships play in gaining ground in a nascent market.
However, not all operators have confirmed local partnerships. Underdog and Kambi have yet to announce any market access partners, leaving room for speculation on how they plan to enter Missouri’s competitive landscape. This delay could reflect a cautious approach or perhaps ongoing negotiations with potential partners.
Some experts have expressed optimism about Missouri’s sports betting market, viewing it as a potentially lucrative opportunity given its passionate sports following. Conversely, others caution that the market may become saturated quickly, with established operators possibly overshadowing newcomers. This diversity in perspectives highlights the inherent uncertainties and competitive nature of the sports betting industry as it expands across the United States.
As the December launch nears, all eyes are on Missouri to see how this new market will shape up and whether it can live up to expectations. With a blend of established operators and fresh entrants, the market dynamics are sure to provide valuable insights into the evolving landscape of sports betting in America.
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