Could Circa Sportsbook Claim an Untethered License and Shake Up Missouri Sports Betting Market?
By Paul Costanzo in Sports Betting News
Published:
- Circa Sportsbook filed a last-minute application for an untethered sports betting license in Missouri
- Missouri has two untethered licenses, and DraftKings and FanDuel are the other applicants
- Regulators will grant the untethered licenses on Aug. 15
The fate of Missouri’s two untethered online sports betting licenses seemed straightforward. Industry giants FanDuel and DraftKings would take them, and very likely dominate market share in the Show-Me State as they have everywhere else.
It could still go that way, but Circa Sports has at least made it interesting.
Circa threw its hat into the ring for one of those licenses, adding another possibility prior to the Dec. 1 launch of Missouri Sports Betting apps.
What Are Untethered Sports Betting Licenses in Missouri?
Missouri can have up to 14 online sportsbooks, and 12 of those will need a partner to receive a license in the market. Two licenses will not require a partner, however, hence the term untethered.
They are highly sought-after licenses, as it means no revenue sharing with a partner.
Getting a FanDuel Missouri and a DraftKings Missouri seemed like a foregone conclusion, and as the biggest players in online sports betting, having them claim the untethered licenses seemed like one, as well.
Any online sports betting operator was able to apply for one, however, and Circa jumped in and did just that on July 15, the final day for applications.
The Missouri Gaming Commission will select the two license holders on Aug. 15.
Could Circa Get One of the Untethered Missouri Licenses?
Circa Missouri likely faces an uphill battle in winning one of the two untethered licenses. FanDuel and DraftKings have dominated online sports betting in the US and have a strong history of working with regulators across more than 20 states.
No state launch is truly complete without FanDuel and DraftKings.
Circa, meanwhile, is legal online in five states: Nevada, Colorado, Illinois, Iowa and Kentucky.
Being in Illinois and Iowa, two states that border Missouri, could help Circa’s case. It’s familiar with the Midwest market and will have a proven track record with regulators in those neighboring states.
Still, it would be a shocking upset if it were to happen.
Fortunately for Circa – or FanDuel or DraftKings – missing out on an untethered license does not mean no market access. The untethered licenses will be awarded before the deadline for partnered applications to be completed, which is Sept. 12.
What Circa Sportsbook Could Bring to Missouri
Circa is one of the most well-respected sportsbooks in the US, especially among seasoned bettors.
Based out of Las Vegas and owned by Michigan native Derek Stevens, it is a very popular spot known for its great odds and high betting limits.
The Circa Million and Circa Survivor NFL contests are among the most famous in the industry, drawing in thousands of players and paying out millions.
Those opening college football odds you see flying around social media every Sunday night during the season? Those are from Circa.
Any experienced bettor in Missouri is likely rooting hard for Circa to win one of those licenses, or to at least find a partner in the Show-Me State.
Evergreen Writer/Editor; Sportsbook Expert
With nearly two decades of experience in sports media, Paul Costanzo turned his professional attention to sports betting and online gambling in January of 2022. He's covered every angle of the industry since then, managing and creating content for PlayMichigan and The Sporting News, and now SBD.
