Circa Sports Gets Big Win in Missouri Ahead of December Launch

Circa Sports picked up a massive win in the Show-Me State today.

The Missouri Gaming Commission announced today that the Vegas-based sportsbook will receive one of the two untethered sports betting licenses in the state. They were chosen over FanDuel, which was widely expected to capture one of the two. DraftKings Sportsbook won the other licenses, forcing FanDuel to seek out an in-state partner to enter the new Midwest market.

Online sports betting will launch in Missouri on December 1. 

Circa’s Presentation Wins Support from MGC

Earlier this week, FanDuel, DraftKings, and Circa all made presentations to the MGC about why they deserve one of the two coveted licenses. FanDuel and DraftKings mostly spoke about their experience and success in the industry, with the duo combining to own over 80% of the US market share. 

Circa Sports couldn’t boast of the same level of success, so their representatives took a different approach. Their presentation focused on Circa’s dominance of the high-stakes betting market. Their industry-leading odds and high limits have made them a home for big-money bettors.

The sportsbook also argues that the platform has helped convince wealthy bettors to ditch their offshore sportsbooks in favor of the regulated US industry. This means more tax revenue for states, while providing those bettors with a safer experience.

Licenses Offer Massive Advantage

Missouri’s untethered licenses offer a significant advantage for operators. They eliminate the need for in-state partnerships, allowing sportsbooks to keep more of their profits. That enables them to offer the most competitive odds and promos, making it challenging for rivals to compete.

The importance of these two coveted licenses led many to believe that DraftKings and FanDuel would capture them. Both operators are industry leaders and helped finance the fight to legalize sports betting in Missouri. The relationship led their rivals to skio apply, with the sole exception of Circa Sports. 

Circa’s Future Remains Uncertain

Circa Sports has found success as the destination for high-stakes bettors in the US, but that could soon be changing. President Trump’s recent spending bill included an amendment that placed a cap on deductions from sports betting losses. This won’t affect most casual bettors, but will have a massive impact on big-money customers.

The FAIR BET Act, which is currently being considered in Congress, proposes to eliminate the cap. While the bill has plenty of support, its success is far from guaranteed. If it fails, it could lead to part of Circa Sport’s base returning to offshore and illegal options.

While the importance of the victory in Missouri cannot be overstated, it could be short-lived if the FAIR BET Act fails.