With Missouri sports betting set to launch on December 1, Fanatics Sportsbook is the latest operator to express their interest in conducting business in the state.
Fanatics has applied for a tethered license, so it will need to partner with either a Missouri casino or professional sports team to secure a license. They have until September 12 to find a partner, which is when all applications are due.
Fanatics currently operates in 23 states across the country, including Illinois, Kentucky, Tennessee and Kansas, which all share a border with Missouri. Since acquiring PointsBet in 2023 and taking over their licenses, Fanatics has grown their revenues at an impressive rate.
Missouri Gaming Commission set to announce untethered licenses
The Missouri Gaming Commission will grant two untethered licenses to sportsbook operators. Only three operators applied for those licenses: DraftKings, FanDuel and Circa Sports.
The MGC will meet with all three applicants on Wednesday before making their final decision on Friday as to which of the two operators will be granted the untethered licenses.
DraftKings and FanDuel are massive favorites to be awarded the untethered licenses. Both sportsbooks donated a Missouri ballot initiative record $43 million to get Amendment 2 on the ballot last November.
The untethered license provides an advantage in that operators will not need to give up a share of their profits to physical casinos or professional sports teams. This in theory should allow for more promotional spending.
The operator that does not win an untethered license can apply for a tethered license by partnering with a casino or local pro team before September 12.
In addition to speaking with the three applicants, the Missouri Gaming Commission will finalize the wording of 76 rules related to sports betting on Wednesday, giving operators and local citizens plenty of time to prepare for the December 1 launch
What other sportsbooks are expected to launch in Missouri?
So far, five official operators have submitted applications for licenses in Missouri. There is almost a month remaining before the September 12 deadline.
DraftKings, FanDuel and Circa Sports have applied for the untethered licenses. The one operator from that list that is not chosen will then have the ability to file an application for a tethered license by partnering with a local casino or sports team.
Underdog Sports and Fanatics Sportsbook have filed applications, but have not yet announced who they will be partnering with to secure a potential tethered license. The partnership will need to be formed by the deadline.
BetMGM and bet365 have not yet officially submitted applications, but both have announced partnerships that will grant them access to the state’s launch. BetMGM has partnered with Century Casinos while bet365 has partnered with the St. Louis Cardinals. For those two operators, it’s simply a matter of filing the paperwork before the deadline next month.
ESPN BET (PENN Entertainment), Caesars Sportsbook and Bally Bet all currently have physical land-based casinos in the state, so they are expected to file applications before the deadline.
Other potential applicants include Hard Rock Bet and Rush Street Interactive (BetRivers).
What to know moving forward
On Friday, the Missouri Gaming Commission will announce the two winners of the untethered licenses. They will also finalize the wording of industry rules for the state.
After that, the next date to look forward to is September 12. This is when all applications for tethered licenses are due. Sportsbook operators are required to partner with either a local sports team or local casino.
In total, 14 mobile licenses are available, though it is extremely unlikely that the state reaches that ceiling at launch.
Once we have a finalized list of operators who will be permitted to operate on launch day, we can look forward to pre-registration offers and promotions in Missouri. This will all lead up to December 1, when bettors will be able to place their first online sports wagers.
We’ll be in the heart of football season for both the pros and college. In addition, basketball and hockey will be underway as well. Better late than never, they always say.
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