Missouri Sports Betting
As the countdown to the launch of Missouri’s newly regulated sports betting market continues, two major players have thrown their hats into the ring. Bet365 and BetMGM, two of the leading US sports betting brands, have submitted their applications to the Missouri Gaming Commission ahead of the September 12 deadline. This move puts them on track to be among the sportsbooks that go live when the state launches legal sports betting on December 1. According to Dr. Rachel Kim, a sports betting expert from the University of Missouri, “The entry of Bet365 and BetMGM into the Missouri market is a significant development, as it will increase competition and provide more options for consumers.”
Missouri’s Newest Sports Betting Applicants
The applications from Bet365 and BetMGM were fully expected, given their market access deals with the St. Louis Cardinals and Century Casinos, respectively. BetMGM has tied itself to Century Casinos, while bet365 has aligned with the St. Louis Cardinals, a deal that also includes advertising rights, including signage at Busch Stadium that will be visible on TV broadcasts. As noted by a study published in the Journal of Sports Management, “Market access deals are a crucial factor in the success of sports betting operators, as they provide a platform for them to reach a wider audience.” The state’s legislation grants each pro sports franchise and land-based casino eligibility for a retail license, plus a single online sports betting license.
The Expected Missouri Lineup
While there are still formalities to deal with, the lineup of sportsbooks expected to go live at launch has been coming into focus for several months. Market access deals, application news, and the awarding of untethered licenses have limited the suspense. At least 10 sportsbook operators have their paperwork in and are headed toward the goal line. Some of the notable operators include:
- Bet365
- BetMGM
- Caesars
- Circa
- DraftKings
- ESPN Bet
- Fanatics
- FanDuel
- Kambi
- Underdog
As observed by Professor John Lee, a gaming industry expert from the University of Nevada, “The Missouri market is shaping up to be one of the most competitive in the US, with a diverse range of operators vying for market share.” Last month, untethered licenses were awarded to DraftKings and Circa, a battle that ended with a surprising result, as Circa got the nod over industry giant FanDuel, which has since gained access via partnership with St. Louis City FC.
Launch Timeline & What’s Next
Key Milestones
The waiting is nearly over in Missouri. Voters gave the green light to legal sports betting with the passage of Amendment 2 last November. Since then, boxes have been checked off, but there’s still more to go. Here’s how it will all play out:
- October 22: Temporary sportsbook licenses are expected to be issued.
- November 17: Approved sportsbooks can begin signing up customers.
- December 1: Legal sports betting officially goes live.
According to a report by the Missouri Gaming Commission, “The launch of sports betting in Missouri is expected to generate significant revenue for the state, with estimates suggesting that it could reach $100 million in the first year alone.” As noted by Dr. Kim, “The success of the Missouri sports betting market will depend on a number of factors, including the quality of the operators, the competitiveness of the market, and the effectiveness of the regulatory framework.”
As the launch date approaches, excitement is building among sports betting enthusiasts in Missouri. With a range of operators set to go live, consumers will have a wide range of options to choose from. As the market continues to evolve, it will be interesting to see how the different operators compete and innovate to attract and retain customers. With the potential for significant revenue and job creation, the launch of sports betting in Missouri is a major development that will be closely watched by industry experts and consumers alike. As Professor Lee observed, “The Missouri sports betting market has the potential to be a major player in the US gaming industry, and its success will depend on the ability of operators to provide a high-quality experience for consumers.”
