Missouri Gaming Authority Reveals Licensing Date for Sportsbook Operators

The Missouri Gaming Commission recently put out an update explaining that sports betting operators may submit their applications for a state license as early as this week.

Sportsbooks Can Apply for a License as Early as May 15

The update marks the next step in Missouri’s legalization of sportsbook operators ahead of a December 1 deadline for the industry. The gambling regulator further stated that the licensing rules are set to take effect on August 30, and the interim period from May 15 to August 30 will allow the commission sufficient time to thoroughly review applications before making decisions and issuing temporary licenses.

“The commission intends to work with our stakeholders to make license applications available on May 15 so that interested parties can start the process of gathering the necessary documents to complete their applications,” the official statement reads. In addition, the Missouri Gaming Authority plans to issue 19 retail and 21 online sports betting licenses. Under this framework, each of the state’s six major league teams is eligible to apply for one retail and one online license.

It Was a Long Process to Get to Here

It hasn’t been easy for the Missouri Gaming Commission to go forward with its plans, as earlier this year, the process to roll out the licensing was blocked by Secretary of State Denny Hoskins. This was part of a lengthy back-and-forth process of legalizing the various aspects of sports betting in the state. However, one major victory for those in favor of legalizing sportsbooks in the state happened in November of last year when voters approved legal sports betting 

This had a significant effect on the entire US gaming industry as a whole. The stocks of many sports betting companies surged following Missouri’s decision. DraftKings, FanDuel, and Rush Street’s stocks increased by 3%, 2.51%, and 5.1%, respectively, later the same day that the results of the vote were announced.

The significance of Missouri becoming the 39th state to legalize sports betting was not overlooked by Bill Miller, president and CEO of the American Gaming Association, who praised the effort involved in securing regulation. According to him, voters had scored a “knockout punch” to illegal sports betting in the state.