Circa Sports Defies Expectations with Missouri Sports Betting License Win

The Missouri Gaming Commission has shaken things up for the state’s upcoming sports betting market by awarding one of just two prized untethered direct mobile licenses to Circa Sports, a relative upstart that was able to triumph over industry giant FanDuel. While FanDuel will still be able to participate in Missouri’s betting market thanks to a separate agreement, this development marks a milestone win for Circa.

Untethered Licenses Offer Unique Opportunities

The decision, made public on Friday, also awarded a license to DraftKings, a widely expected move, given the company’s scale and nationwide presence. DraftKings and Circa Sports now have the credentials to operate independently across Missouri once online wagering goes live on December 1, 2025, pending final regulatory approvals.

The importance of these licenses cannot be overstated. Unlike tethered permits, which require operators to partner with casinos or professional teams, direct licenses allow companies to maintain a standalone presence in the state. Many industry insiders were surprised that Circa, a brand known for catering to sharp bettors with high limits and low margins, triumphed over industry giant FanDuel.

FanDuel’s defeat is especially notable given that the operator poured millions into Missouri’s sports betting legalization campaign. According to the Gambling Commission, Circa’s unique business model was one of the deciding factors that helped it edge out the competition. While the company might not be able to compete with the tax revenue projections of the larger players, it brings diversity and appeals to a different customer base.

FanDuel Will Still Launch in Missouri Thanks to a Strategic Partnership

Circa CEO Derek Stevens embraced the underdog narrative, welcoming the Commission’s decision. He drew attention to the company’s business strategy and customer appeal, admitting he initially had little hope of triumphing against industry behemoths like FanDuel and DraftKings. Stevens also drew attention to Circa’s Club One loyalty program, already enjoyed by 81,000 Missourians.

We came in as the long shot against national giants like DraftKings and FanDuel, but our licensure approval today proves there’s room for a different kind of operator.

Derek Stevens, Circa CEO

As for DraftKings, Missouri represents its 29th active jurisdiction. FanDuel, however, did not secure the direct license, somewhat dampening its ambitions in the state. The operator quickly overcame this setback by an agreement with Major League Soccer’s St. Louis CITY SC, ensuring that its sportsbook will be live in the state alongside rivals. 

We look forward to supporting the team and engaging with the community as we bring America’s #1 Sportsbook to fans across Missouri.

Mike Raffensperger, FanDuel president, Sports

For Circa, this victory means more than expansion. The Commission’s decision validates that the operator’s unorthodox business model, built on sharp odds and customer trust, can hold its own against industry giants. With Missouri sports betting set to launch in a few months, industry experts will closely watch whether Circa can capitalize on this win and continue defying the odds.