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We are almost four months away from Missouri sports betting going live. The launch date remains firmly set on December 1 — don’t expect anything sooner either.
In the meantime, the state is setting up the legal sports betting market from scratch. The biggest order of business? Handing out licenses to sportsbooks and/or pure-play mobile betting apps. In that regard, we have some updates to pass along. Keep on reading and we’ll tell you exactly what’s going on in the Show-Me State!
Untethered License Is Golden Goose
Missouri has different types of licenses, but the “kingmaker” one is the untethered license. As the name suggests, this license is not tied to a Missouri sports team or casino like other licenses (more on that soon). More than flexibility, untethered licenses also means no revenue share with other state operators. So yes, profits will be higher with this license than not.
There are only two of these licenses available. Three applicants came in before the deadline passed earlier this July. In the running are DraftKings, FanDuel, and Circa Sports. The Missouri Gaming Commission confirmed this week that all three operators submitted applications before the July 15 deadline.
DraftKings and FanDuel applying was expected. They’ve both been active in the state for months, having spent over $40 million combined to help pass last year’s ballot initiative that legalized sports betting by less than 1 percent in the statewide vote. They are also the two biggest operators by market share in the country so this is business as usual.
Circa, on the other hand, is a bit more surprising. The Las Vegas-based operator is well-known among sharp bettors, but doesn’t yet have the same national reach as its two much larger competitors. Still, it’s a bold move that signals Circa is ready to expand beyond its niche.
These three will have to wait until August 15 to find out which two are getting approved. The Missouri Gaming Commission will host a public hearing on August 13 before making final decisions.
For the “odd man out”, which let’s face it, everyone fully expects it to be Circa, they have other entry ways into the sportsbook betting market. Allow us to explain Missouri’s licensing tiers.
Missouri Licenses Explained
Missouri’s overall licensing structure is loose. For Circa or other small-time sportsbooks, that means several ways to enter besides the ultra-limited untethered route. Licenses can be had by partnerning with an in-state riverboat casino or professional sports team. There are 13 riverboat casinos in Missouri, plus six professional sports teams. That adds up to 19 partnership-based licenses on top of the two untethered ones.
So far, a few key deals have been announced. BetMGM partnered with Century Casinos, giving them access through two properties: Century Casino Cape Girardeau and Century Casino Caruthersville.
Bet365 locked in a deal with the St. Louis Cardinals — a major grab considering the visibility and loyalty of the Cardinals’ fanbase. That partnership also includes naming rights for a VIP area in Busch Stadium.
Underdog is the only other sportsbook that’s come out and said they want in somehow, someway. Though, no word on who they want to partner with.
More Upcoming Deadlines
The clock is ticking. Applications for partnership-based licenses are due September 12. That leaves less than two months for operators to secure their spot in the newest betting market. Expect announcements to start rolling in soon. Big names like Caesars, Fanatics, and Penn Entertainment are all likely to enter the market — probably through their respective casino or team connections.
In fact, many of the state’s casinos already have existing relationships that could make the process turnkey. Harrah’s and Isle of Capri are owned by Caesars. Penn runs Argosy, River City, and Hollywood Casino. Bally’s and Boyd also have strong presences in Missouri. If those brands go the obvious route, we could see ESPN Bet, Caesars Sportsbook, and Bally Bet all join the Missouri lineup before long.
Elsewhere, the formal rulemaking process wraps up on August 30, which is when all the sports betting regulations officially go into effect. Unfortunately, earlier attempts to expedite things didn’t go anywhere. Secretary of State Denny Hoskins rejected emergency rule requests back in February, which could’ve allowed sportsbooks to launch by summer. That left everyone stuck waiting for the December 1 legal launch date.
So yes, Missouri is entering the game late — missing most of the NFL season, including the massive September-November window that drives the bulk of betting activity. Still, they’ll be live in time for the NFL playoffs and the heart of college bowl season. For most operators, that’s more than enough reason to rush toward the starting line.
Between now and December 1, all eyes will be on how those last few licenses shake out. Which operators can secure a partnership? Who will be left on the outside looking in? And of course — which two sportsbooks will win the untethered lottery? We’ll have updates along the way so be sure to check back regularly.
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