Missouri Sports Betting Market Sees $540 Handle in First Month

The first month of Missouri’s legal sports betting market didn’t disappoint.

The Missorui Gaming Commission released its sports wagering financial report, which showed over $540 million in wagers for the opening month. However, promotional costs led sportsbooks to report a net loss of over $20 million. As a result, the Show-Me State only generated $521,000 in tax revenue.

Missouri’s mobile market went live on December 1 with eight sportsbooks.

FanDuel and DraftKings Soar

FanDuel and DraftKings hold over 80% of the US sports betting market, making December’s results far from surprising. The former had the highest handle of any operator, while the latter saw the most wagers. 

Below are the December numbers for all eight operators.

Source: MGC Sports Wagering Financial Report for December 2025

Fanatics Stumbles

While no other sportsbook has come close to matching the national revenue of the two industry leaders, Fanatics has been coming the closest. In the massive New York Market, the operator has posted higher handles than FanDuel, a feat no other rival can match. This led to high expectations for the Missouri market, which were significantly lowered after December’s report.

Fanatics finished fourth in total wagers and fifth in handle. Not only did they fail to come close to DraftKings and FanDuel, but they also fell behind bet365.

Like Fanatics, bet365 has done an excellent job of growing its market share since its launch. The international betting giant is taking a slow, efficient approach to expansion and is investing heavily in advertising. 

Fanatics and bet365 are competing for the same position in the industry behind the two leaders. While the former’s success in New York is impressive, the lead the latter established in Missouri suggests it may not translate to other markets. 

Tax Revenue Bump Will Come Soon

While the tax revenue generated in December was modest, there is no reason for the state to panic.

When a new sports betting market goes live in the US, operators typically offer large promotions and bonuses to attract as many bettors as possible. This leads many bettors to use bet credits when placing wagers over the first few weeks. Sportsbooks don’t make any revenue from those wagers, even when they lose.

With the market’s debut now made, those larger promotions will start to disappear. While bonuses for existing customers will be available, those will often require bettors to put up some of their own money. After that, bettors will be placing wagers using their own funds.

While many bettors will abandon the hobby, those who remain will drive higher revenue for the state and sportsbooks.