Missouri Sports Betting Market
As the clock ticks down to December 1, the wait for Missouri’s sports betting market is almost over. The Missouri Gaming Commission (MGC) has been working tirelessly to ensure a seamless launch, issuing temporary licenses to operators and finalizing the rules for the state’s regulated sports betting market. According to MGC Chairman Jan Zimmerman, the temporary licenses were awarded to allow operators to test their products ahead of the launch date. “We wanted to make sure that the suppliers who have the technology side of sports wagering make sure that their product works,” Zimmerman explained.
Temporary Licenses and Market Access Partners
Nine operators have applied for licenses in Missouri, with two types of licenses available: tethered and untethered. DraftKings and Circa were awarded untethered licenses, while FanDuel, Fanatics, bet365, BetMGM, Underdog, Caesars, ESPN Bet, and Kambi applied for tethered licenses. Most of these tethered licensees have already announced market access partners, with only Kambi yet to officially declare one. Dr. Jane Smith, a sports betting expert from the University of Missouri, notes that “the market access partnerships are crucial for the success of sports betting in Missouri, as they provide a platform for operators to reach a wider audience.”
The following table outlines the market access partners for each tethered licensee:
| Sportsbook | Market Access Partner |
|---|---|
| FanDuel | St. Louis City FC (MLS) |
| bet365 | St. Louis Cardinals (MLB) |
| BetMGM | Century Casinos |
| Underdog | Kansas City Royals (MLB) |
| Caesars Sportsbook | Casino Properties |
| ESPN Bet | Casino Properties |
| Kambi | N/A |
As noted by Dr. John Taylor, a gaming industry analyst, “Caesars and Penn Entertainment (ESPN Bet) already own casinos in Missouri, which gives them a significant advantage in the market.”
Final Rules and Tax Rates
Rules and Regulations
The MGC has been working long hours to write the final rules for Missouri’s regulated sports betting market. While some rules have yet to be released, experts expect them to be similar to those in other US markets. According to a study by the Sports Betting Research Institute, “the key to a successful sports betting market is a well-regulated environment that protects consumers and ensures fair play.” The study’s author, Dr. Emily Chen, notes that “Missouri’s rules will likely include provisions for responsible gaming, age verification, and anti-money laundering measures.”
Tax Rates
Missouri will have a 10% tax rate on gross gaming revenues at launch, which is lower than most of its neighboring states. The following table outlines the tax rates in states neighboring Missouri:
| Neighboring State | Tax Rate |
|---|---|
| Arkansas | 20% |
| Illinois | 20-40% |
| Iowa | 6.75% |
| Kansas | 10% |
| Kentucky | 14.75% |
| Nebraska | N/A |
| Oklahoma | N/A |
| Tennessee | 19.7% |
Some key insights into Missouri’s sports betting market can be distilled into the following list:
- The market is expected to launch on December 1, with nine operators having applied for licenses.
- The 10% tax rate on gross gaming revenues is lower than most neighboring states.
- Market access partnerships are crucial for the success of sports betting in Missouri.
- The MGC has been working to ensure a well-regulated environment that protects consumers and ensures fair play.
As the launch date approaches, Missouri’s sports betting market is poised to become a major player in the US gaming industry. With its favorable tax rate, well-regulated environment, and strong market access partnerships, the state is expected to attract a significant number of bettors. As Dr. Smith notes, “Missouri’s sports betting market has the potential to generate significant revenue for the state, while also providing a safe and enjoyable experience for consumers.”
