Missouri's Sports Betting Market Off to a Slow Start
As we move toward the launch of a legal Missouri sports betting market, the application period for licenses has opened with less activity than anticipated. Since the window began on May 15, only two of the best sports betting site operators have formally submitted license applications, according to the Missouri Gaming Commission (MGC).
These applications reportedly arrived this week and represent the initial interest in what is expected to become a competitive and regulated sports wagering environment in the state. So far, according to the MGC, as reported by Sports Betting Dime, only DraftKings and Underdog have submitted applications.
At this stage, it remains unclear whether either company is seeking a tethered or untethered license. The distinction is significant: Missouri law permits only two operators to enter the market with Direct Mobile Licenses, which do not require partnerships with land-based casinos or sports franchises.
These two untethered licenses are limited and coveted. DraftKings and Underdog have not disclosed whether their applications target these licenses or involve collaborations with existing market access partners.
The MGC has established a clear timetable for the application and launch process. Applications for the two Direct Mobile Licenses must be submitted by July 15. Applicants will have an opportunity to present their cases before the Commission on Aug. 13.
Two days later, the Commission will announce the selected recipients. Notably, operators awarded untethered licenses will launch on the same date as other approved license holders.
All other license applicants, including those seeking retail or tethered online licenses, must finalize their submissions by Sept. 12 if they intend to go live on Dec. 1.
Missouri anticipates large betting market
The state's regulatory framework permits the issuance of up to 19 retail licenses and 14 online licenses. Tethered licenses require partnerships with Missouri-based casinos or professional sports teams, a model designed to integrate existing gaming operations with the new online betting market.
The current pace of applications has not matched that seen in other states during their initial licensing periods. In high-demand markets, such as the New Jersey sports betting and Pennsylvania sports betting markets, regulators have been inundated with applications as soon as the window opens.
Missouri's adoption of a dual-structure model aims to strike a balance between competition and local business involvement. With only a few major players currently confirmed, however, additional announcements are likely to follow in the coming weeks as operators finalize negotiations and submit their applications.
Regardless of category, all license holders will be allowed to begin operations simultaneously on Dec. 1, provided they receive Commission approval and meet all regulatory conditions. Shortly after, they'll find their way to the best Missouri sportsbook promos.
