Missouri Issues Seven Temporary Sports Betting Licenses

Sports betting in the Show Me State goes live in less than six weeks, and preparations for a seamless launch are already in place. Missouri regulators recently awarded seven temporary mobile sports betting licenses in addition to the two untethered licenses issued to DraftKings and Circa Sports.

Seven Makes Nine

Earlier this week, Missouri regulators gave the green light to FanDuel, BetMGM, Caesars, ESPN BET, Fanatics, bet365, and Underdog by awarding them temporary sports betting licenses. Those seven temporary tethered licenses are in addition to the two untethered licenses granted to Circa Sports and DraftKings, making a total of nine sportsbooks planning to launch.

The difference between the two is that the seven untethered licenses require partnering with one of the state’s six sports teams or one of 13 designated Missouri casinos to gain market access. The two untethered licenses are coveted because they require no such revenue share with a third party.

It was presumed that DraftKings and FanDuel would be selected for these untethered licenses, but Circa Sports made an argument so compelling that they, and not FanDuel, were awarded the untethered license along with Boston-based bookmaker DraftKings.

Regulatory Requirements for Launch

All mobile and retail sports betting sites must satisfy the regulators’ requirements of submitting a list of their internal controls, protocols, third-party payment processor information, and adherence to other regulations before they are allowed to launch after midnight on December 1st.

The following suppliers also received temporary licenses, including BMM Testlabs, Integrity Compliance 360, International Betting Integrity Association, Genius Sports, GeoComply, and GLI.

Missouri is expected to “steal” in-state customers that were making the pilgrimage to neighboring states that allow mobile sports betting, like Kansas and Illinois. How much of an impact these defections will have on those states’ sports betting revenues is unclear.

Underdog Aligns With Two of Missouri’s Sports Franchises

Underdog is taking a different tack than its competitors in that it is eagerly partnering with not one but two pro sports franchises. In September, Underdog inked a deal with MLB’s Kansas City Royals and recently signed on to another pact with the NHL’s St. Louis Blues.

Underdog is betting on support from the fans, as their brand will be ubiquitous across both teams’ stadiums and digital platforms. The company is hoping this strategy endears them to customers of both franchises and will be seen as a loyal partner to these homegrown teams.

Joshua Anderson, Underdog’s Director of Strategy, stated, “We’ve learned how rabid Blues fans are when it comes to leveling up their sports experience. Being on the ground at Enterprise Center this season means we’re meeting fans on the cusp of a new era.”

Blues’ Chief Marketing Officer Steve Chapman emphasized that building brand loyalty is everything and believes Underdog agrees. “We want our fans to feel part of the action,” he said. “Underdog shares that vision.”

Retail Sportsbooks to Launch Across Missouri Casinos

In addition to the mobile sports betting platforms, there are as many as eight of the state’s 13 casinos poised to launch retail sportsbooks. Those include Fanatics-branded books at Boyd Gaming’s two Ameristar properties; a BetMGM book at Century Casino Cape Girardeau; Caesars books at Horseshoe St. Louis and Harrah’s Kansas City; and ESPN BET books at its parent company PENN Entertainment’s three Missouri casinos, including Hollywood St. Louis, Argosy Kansas City, and River City, among them.