DraftKings and Underdog Jump Ahead in Missouri’s Sports Betting Launch

Missouri plans to introduce legal sports betting this year, and DraftKings and Underdog have gotten a head start by being the first to apply for mobile sports betting licenses. The Missouri Gaming Commission (MGC) stated that these two companies were the only ones to submit applications by mid-June.

Sports Betting Goes Live in Missouri December 1 as Operators Eye 33 Licenses

Missouri plans to kick off its sports betting market on December 1, following a close vote in November 2024 that made sports wagering legal. The state will give out 33 licenses in total, 19 for physical locations and 14 for online betting sites. Companies have until July 15 to apply for the two sought-after standalone mobile licenses, while all other applications must be in by September 12.

Getting into this market is not cheap. A five-year mobile license comes with a $500,000 application fee. However, the low 10% tax on sports betting profits is likely to attract many operators looking for good business conditions.

Underdog’s application shows a gutsy move for the fantasy sports operator. The company runs daily fantasy contests in Missouri already, but it has one active sportsbook in North Carolina. It has licenses in Colorado and Ohio, but Missouri would be a big step in its growth into full-scale sports betting. A representative from Underdog seemed sure about the company’s bid, pointing out its earlier link with the MGC through its fantasy sports platform.

As Top Teams Attract Fans, Sportsbooks Set to Make Missouri a Key Betting Spot in the Midwest

DraftKings, a big name in US sports betting, has kept quiet about its plans. However, the company, along with FanDuel, played a key role in the ballot campaign to make sports betting legal in Missouri, putting a lot of money into the effort.

Other big names in betting, like BetMGM, Fanatics, and ESPN Bet, are likely to join soon. BetMGM has already made a deal with Century Casino, setting itself up to launch on day one. Bet365, another big global bookmaker, teamed up with the St. Louis Cardinals earlier this year to get in through a professional sports team license.

With big sports teams like the Kansas City Chiefs, St. Louis Cardinals, and Blues drawing lots of bets, Missouri could become a hot spot for betting in the Midwest. The Chiefs’ ongoing success in the NFL and their dedicated local fans make the market even more attractive.