DraftKings, FanDuel, Circa Sports Make Case for Untethered Missouri Sports Betting License

• Representatives for DraftKings, FanDuel, and Circa Sports presented their cases to the Missouri Gaming Commission for untethered online sports betting licenses
• Two untethered online sports betting licenses are available in the Show-Me State
• The Missouri Gaming Commission will award the licenses on Friday, Aug. 15

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Three sports betting operators – DraftKings, FanDuel, and Circa Sports – today appealed to the Missouri Gaming Commission for two available untethered online sports betting licenses.

Representatives for the sportsbooks presented their cases to the Missouri Gaming Commission for the two valuable licenses. Untethered license holders do not have to team up with a market access partner to do business in the Show-Me State.

The Missouri Gaming Commission will award the two licenses on Friday, Aug. 15.

Missouri Sports Betting Licensing Process

The Missouri Gaming Commission reminded the operators that it will award the two available licenses based on the company’s applications and their ability to satisfy the following criteria:

• Expertise in the business of online sports betting
• Integrity, sustainability, and safety of the applicant’s online sports betting platform
• Past relevant experience of the applicant
• Advertising and promotional plans to increase and sustain revenue
• Ability to generate, maximize, and sustain revenues for the state
• Demonstrated commitment to and plans for the promotion of responsible gaming

The company that does not receive an untethered license will still be allowed to apply for a partnered retail or online sports betting license by the Sept. 12 deadline, the Missouri Gaming Commission recently confirmed with Sports Betting Dime.

In total, the commission will issue up to 19 retail sports betting licenses and up to 14 online sports betting licenses under the approved framework.

Missouri sports betting apps will launch on Dec. 1, 2025.

DraftKings Already Well Established in Missouri

DraftKings has long been established in Missouri, Krista Thomas, Business Development and Partnerships at DraftKings, explained to the commission. The company has been a licensed daily fantasy sports operator in the Show-Me State for the last several years and has a clear path to convert its current DFS customer base over to its sports betting market, she explained.

The sports betting app has been declared as the best in class by Eilers and Krejcik Gaming for the past two years, Thomas said, and has a current customer base of over 4.8 million users. This has increased by a million users for each of the last two years.

DraftKings CFO Alan Ellingson reported the company is expecting to generate $175 million in gross gaming revenue within the first five years of operations in Missouri.

“We know Missourians are traveling across borders to place their dollars, and we’re excited to see those dollars come back into the state with the launch this fall (Dec. 1),” Ellingson said.

Ellingson also reported DraftKings will be very open to partnering with Missouri casino or professional sports team if it does not receive one of the two available untethered licenses. DraftKings has a current sports betting partnership with the Kansas City Chiefs.

FanDuel Users Already in Missouri

Like DraftKings, FanDuel has been licensed for DFS operations since 2018 and has been regulated by the Missouri Gaming Commission since that time, Rich Cooper, FanDuel VP, Regulatory, said during the presentation.

FanDuel estimates generating $400 million in annual gross gaming revenues by 2034, when the Missouri sports betting market reaches full maturity. If so, this would generate $40 million annually in Missouri sports betting taxes from FanDuel alone.

The sports betting operator also has a built-in base with the Show-Me State, Stephen Higgins, Senior Director, Strategic Growth and Innovation of FanDuel, reported. The company identified 110,000 customers who currently reside in Missouri, about 2.3% of the state’s 21-and-older population, that have already bet through FanDuel in other bordering states with legalized sports betting.

These customers will obviously wager with FanDuel in Missouri when sports betting is launched in December, he said, and will bring those dollars back into the state.

Cooper also noted FanDuel will partner with a casino or professional sports franchise for a license if it is not awarded an untethered license.

Circa Sports Appeals To Different Class of Bettors

Derek Stevens, CEO/COO of Circa Sports, said FanDuel and DraftKings accounts for nearly 75% of the total sports betting market share in the country. Circa Sports differentiates itself from the market share behemoths by focusing on a different class of bettors, those who focus more on higher dollar bets than casual users of FanDuel and DraftKings.

According to Stevens, 95% of Circa Sports total sports betting handle comes from bets that are over $50.

“We take larger bets, we do not limit professional players, we do not limit customers and we work with our customers to learn from them,” he said.

Stevens said there are about 81,000 active members from Missouri in its database, who would likely be interested in betting with a Circa Sports platform if it receives a license. These are customers who have played or participated with Circa Sports within the last 13 months.

Stevens also said Circa Sports will be interested in partnering with a casino or professional team for market access if not awarded an untethered license.