Two Operators Submit Applications for Missouri Sports Betting

Photo by Greenstrat via Wikimedia Commons
Key Takeaways
- DraftKings and Underdog have submitted for sports betting licenses
- BetMGM and bet365 have announced partnerships in the state
- Underdog Sportsbook is only live in North Carolina
Sports betting operators are beginning to line up to launch in the Show-Me State.
DraftKings and Underdog have both applied for a sports betting license from the Missouri Gaming Commission (MGC). They are the first sportsbooks to officially apply for licenses since the application period opened on May 15. BetMGM and bet365 have not applied, but both have established the required partnerships within the state.
Missouri’s sports betting market is set to launch on December 1.
Underdog Looks to Add Second Market
No one was surprised by DraftKings’ interest in joining the new sports betting market, but Underdog’s expansion was not expected. The DFS operators have their fantasy platform live in over 40 US states, but only offer a regulated sportsbook in North Carolina. The state doesn’t release revenue numbers for operators, so we don’t know how Underdog is performing in the market.
Missouri should present the small operator with its best chance at expansion. While breaking into an existing sports betting market has proven to be incredibly difficult, that won’t be the situation in the state. That means Underdog will have a chance to recruit bettors who don’t currently have a preferred online sportsbook.
More Applications Expected Soon
While DraftKings and Underdog are the first operators to apply for a Missouri operating license, they will soon be joined by several rivals.
BetMGM and bet365 both announced partnerships within the state, allowing them to apply for licenses of their own. The former partnered with Century Casinos, while the latter inked a deal with the St. Louis Cardinals.
Caesars, Penn Entertainment, and Bally’s already have casinos in the state, and giving them plenty of reason to apply for sports betting licenses.
FanDuel has also confirmed its interest in joining the Missouri market, though it has not yet established a partnership in the state.
Illinois Sportsbooks Look for New Investment
Missouri could end up benefiting from a controversial new “per bet” tax passed in neighboring Illinois. The tax has drawn outrage from operators, who have already begun to scale back their investments in the state’s market.
That leaves operators looking to move their focus to a different Midwest market, and Missouri would be a fantastic option. The state has a friendly 10% tax rate on adjusted gross revenue, which it set to ensure a competitive market. Given the large population and numerous retail casinos and professional sports teams, operators could decide to redirect investments towards Missouri.
Michael is a writer from Denver who covers the sports betting industry for Casino.com. He has been covering the industry for over four years, focusing on providing accurate and easy-to-understand information for readers. When he’s not covering the industry, he’s betting on sports or exploring everything that Colorado has to offer.
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