Missouri is now the 39th US state to offer legal sports betting, with eight betting shops opening in the state on Monday (December 1st). Online sports betting received voter approval in a referendum that took place in November 2024.
Which operators are licensed in Missouri?
- Bet365
- BetMGM
- Ceasars
- Circa Sports
- DraftKings
- theScore Bet (replacing ESPN Bet)
- Fanatics
- FanDuel
However, Underdog Sports withdrew its licensing application at the last minute, despite having reached agreements with the Kansas City Chiefs and the Kansas City Royals prior to launch. The company opted to focus on prediction markets, including an agreement with Crypto.com.
Furthermore, DraftKings and Circa Sports secured both independent licenses. On the other hand, other operators formed partnerships with sports teams or casinos in the state to launch their operations.
FanDuel optimistic about the market.
The newly formed Missouri Gaming Commission surprisingly rejected FanDuel’s application for an independent license,
In a press release, Karol Corcoran, General Manager of sports betting at FanDuel, commented on the situation. “Introducing FanDuel to sports fans in Missouri is a momentous occasion for our business, and we look forward to providing passionate fans across the state with the experience of the number 1 sports betting site in the United States.”
The company is promoting the launch with donations of US$600,000 to Missouri charities that support veterans and first responders.
PENN launches theScore Bet and ESPN Bet ceases operations.
The expectation was that PENN Entertainment would begin ESPN Bet operations in the casinos it manages in the state. However, the company terminated its agreement with ESPN and transferred its US sports betting operations to theScoreBet.
ESPN Bet officially ended its operations on the same day that sports betting in Missouri began. PENN CEO Jay Snowden stated he expected a smooth transition between the brands, with far less disruption than customers experienced during the transition from Barstool Sports to ESPN Bet.
“We had to put our clients through many obstacles, in addition to having a new technological infrastructure. We were offline for several days. We asked them to come back to register again and make a new deposit. A lot was happening, which generated a lot of noise, in addition to the rebranding,” he said.
But ESPN won’t be left out of the market. The brand is expected to partner with DraftKings, integrating the betting site’s odds into its websites and sports coverage. Both ESPN and DraftKings are optimistic about the potential of the partnership.
Local sports stars help launch sports betting in Missouri.
Other sports betting sites that went into operation marked their launch with some Missouri sports stars. Fanatics Sportsbook opened its physical locations in the two Ameristar casinos, where former MLB and NHL players Alex Gordon and Patrick Maroon placed the first bets.
Caesars Sportsbook, meanwhile, organized its own ceremonies with Chiefs legends Christian Okoye and Trent Green at various casinos. The company carried out the launch despite having previously contributed to a campaign against the legalization of gambling.
Caesars donated $4 million to the organization Missourians Against the Deceptive Online Gambling Amendment, considering legal sports betting a threat to its casino revenue.
Meanwhile, FanDuel and DraftKings joined a coalition with six Missouri sports teams, raising $10 million for initiatives aimed at persuading the public to vote in favor of legalization.
How prediction markets can influence legalization.
The campaign efforts of DraftKings and FanDuel helped encourage Missouri residents to vote in favor of legalization. Despite this, both companies have since migrated to prediction markets. The FanDuel Predicts and DraftKings Predictions services will be launched in many states this month.
The possibility of offering sports betting in all 50 states, even those that have not yet formally legalized it, could mean the end of multimillion-dollar campaigns for legalization.
Although Underdog is not present in the Missouri betting market to focus on prediction markets, DraftKings and FanDuel have left Nevada. Prior to the official launch of sports betting, Missouri residents could already bet on sports on various prediction market platforms.
Currently, there are 39 states in the US with legalized sports betting. The growth of prediction markets could lead to an increase in this number, or it could hinder the legalization process. This is because it leads bettors to find new ways to wager on sports.
