The Missouri sports betting licensing process has officially begun.
The Missouri Gaming Commission (MGC) has opened the application process for interested operators and will accept bids for both tethered and untethered sportsbook licenses until Sept. 12, 2025.
Under the framework for sports betting that passed into law when Missouri voters gave the thumbs-up to sports betting by a narrow margin in last November’s election, the MGC can issue up to 19 retail licenses and up to 14 online licenses.
Commercial operators can access the Missouri market either through an untethered license or by partnering with one of the state’s six professional sports teams or one of the 13 bricks-and-mortar casinos. Each casino is entitled to two skins.
Retail sportsbook licenses cost $250,000 while mobile licenses are twice the price. As confirmed at an MGC meeting on Tuesday, mobile licenses will last for five years before renewal. Sports betting will be taxed at just 10% and go towards public education, although the first $5 million a year is set aside for the state’s Compulsive Gambling Prevention Fund.
Untethered licenses will be awarded early
There are only two untethered licenses available, termed as “Direct” licenses by the MGC, which will allow a pair of operators to offer sports betting directly over mobile platforms without requiring any form of partnership.
On its website, the Commission outlines a basic timeline now that the application process has opened. Applications for one of the two direct untethered online sports betting licenses are due on July 15 and those licenses will be awarded on Aug. 15. All other applications must be completed by Sept. 12.
As laid out in the legislation and confirmed by the MGC, the Missouri sports betting market must launch by Dec. 1 at the latest. An earlier launch was initially hoped for but now seems unlikely. Per multiple reports, that Dec. 1 date is the day sports wagering will go live.
Who could seek licenses?
Many sportsbook executives have spoken on earnings calls or in other public statements about their interest in the Missouri market, but there has been a dearth of publicly detailed plans so far.
bet365 looks like a safe bet, given that it secured market access via a sports betting partnership with the St. Louis Cardinals Major League Baseball franchise in March.
The Cardinals, as well as the NHL’s St. Louis Blues, the MLB’s Kansas City Royals, Major League Soccer’s St. Louis City SC and the National Women’s Soccer League’s Kansas City Current, all donated to the Winning for Missouri Education campaign which aimed to propel a yes vote. Those teams, plus the Kansas City Chiefs, are the five remaining pro sports teams available for tethered licenses.
FanDuel and DraftKings intend to be present in the market, given they spent a combined sum of more than $40 million on that pro-sports betting campaign. The likes of BetMGM, ESPN Bet and Underdog also seem likely based on comments made by various company executives in recent months.
Caesars, which opposed Amendment 2 to legalize sports betting, ESPN Bet and Hollywood Casino owner PENN Entertainment, Bally’s, Boyd Gaming and Century Casinos all own or operate land-based casinos in the Show-Me State.
