Missouri Plans To Rollout Licensed Betting This Year

Missouri sports betting is set for operation later this year, according to Gaming Commission chairman Jan M. Zimmerman.

Zimmerman commented, “The staff is keenly aware of how anxious people are to get sports wagering up and running in the state. They’re doing everything in their power to do so.”

Missouri residents voted narrowly in favor of legalizing sports betting in a referendum last year. The details of operation are now being sorted out before the license application period opens on May 14th.

Missouri sports betting licenses

In total, the state can issue 19 retain licenses and 21 licenses for online sports betting. The usual names will be among the applicants, such as FanDuel and DraftKings. The nation’s two biggest sportsbooks spent millions on donations to the campaign ahead of last year’s referendum.

Operators can apply for untethered licenses or partner with the state’s pro-sports teams. The St. Louis Cardinals have already signed a deal with bet365. BetMGM is also expected to enter the market and have a partnership with the Kansas City Chiefs.

Underdog Fantasy also confirmed they will apply for a license. If approved, this will be their fourth live betting license in the US. The fantasy sports company continues to expand operations and is now valued at over $1 billion. 

Zimmerman said all the licenses will be issued at the same time, so the Commission will wait until all have applied before making decisions. She commented, “We have to issue all licenses simultaneously. Nobody gets announced or awarded before anyone else.

“In a perfect world, all applicants will get us their correct information on the first try, but we know this won’t happen. We will be waiting until even the very last applicant submits their correct information. We can’t issue a license one day and then issue another a few days later.”

The application period runs from May 14th to August 30th, so announcements will likely come in September at the earliest.

Unlicensed operators in Missouri

The Gaming Commission is keen to get everything in place for the launch on December 1st so the state can begin collecting tax revenue. Indiana generated over $50 million in tax revenue in its first year of legal gambling, and Missouri will hope for similar numbers.

Missouri residents place an estimated $4.5 billion in wagers at unregulated sports betting sites annually. Offshore sportsbooks, prediction markets, and crypto betting sites all offer Missouri sports betting.

The state also has an issue with unlicensed gaming machines. The state estimates there are over 20,000 unregulated machines at gas stations and convenience stores across Missouri.

There have been moves by lawmakers to legalize and tax gaming machines, but bills have not made progress.

The effort to have legal sports betting in place this year continues. Zimmerman commented, “I always take the opportunity to thank everything for their hard work and for doing everything in their power to get this done before Dec. 1.”