The race for two independent online sports betting licenses in Missouri has reached its concluding phase. DraftKings, FanDuel, and Circa Sports are presenting their final proposals to state regulators. The Missouri Gaming Commission is set to reveal the selected companies on Friday, August 15, allowing them to enter the market without having to affiliate with a casino or a professional sports team.
According to Missouri’s licensing guidelines, obtaining untethered status allows operators to launch on their own. In contrast, partnered licenses, available for application until September 12, necessitate a market access agreement. Missouri has authorized a total of 19 retail licenses and 14 online licenses, with the initial sports betting apps anticipated to debut on December 1, 2025.
State regulators stated that the decision on Friday will consider various elements, including operational proficiency, platform security, prior industry experience, marketing strategies, revenue potential, and commitments to responsible gaming practices.
For DraftKings, the strategy emphasized converting an existing pool of daily fantasy sports participants into sports bettors. Krista Thomas, the company’s Head of Business Development and Partnerships, presented to the commissioners that its sports betting platform has been recognized as top-notch for two consecutive years by Eilers and Krejcik Gaming, and currently boasts over 4.8 million users across the nation, increasing by a million each year for the last two years.
DraftKings CFO Alan Ellingson
CFO Alan Ellingson projected $175 million in gross gaming revenue within five years post-launch in Missouri. “We understand that Missourians are currently traveling across state lines to place their bets, and we are eager to see those funds flow back into the state with our launch this fall (December 1),” he emphasized.
Ellingson also mentioned that the company would contemplate a partnership with a Missouri casino or sports team if its bid for an independent license is unsuccessful, highlighting its existing collaboration with the Kansas City Chiefs.
FanDuel has been offering daily fantasy sports in Missouri since 2018. Rich Cooper, the company’s VP of Regulatory Affairs, estimated that by 2034, the platform could yield $400 million yearly in gross gaming revenue for the state, translating to approximately $40 million in annual tax revenues.
Stephen Higgins, Senior Director of Strategic Growth and Innovation, stated that FanDuel has already recognized 110,000 Missouri residents who have placed bets with the company in nearby states. This figure represents roughly 2.3% of the state’s eligible betting demographic.
“These customers will assuredly place bets with FanDuel in Missouri upon the sports betting launch in December,” Higgins asserted to the commission. Like DraftKings, FanDuel confirmed its intent to pursue a partnered license should it not secure an untethered one.
Circa Sports has positioned itself as a niche alternative, focusing on serious bettors rather than the casual crowd. CEO and COO Derek Stevens informed regulators that while FanDuel and DraftKings dominate nearly three-quarters of the national market, Circa thrives on larger wagers, with 95% of its handle originating from bets over $50.
Circa Sports CEO Derek Stevens
“We accept larger wagers, we don’t place limits on professional players, and we actively engage with our customers to learn from them,” Stevens remarked. He indicated that 81,000 Missouri residents have interacted with Circa over the past 13 months, which could translate into new customers for sports betting if the company secures a license. Stevens also expressed willingness to collaborate with a casino or sports franchise if required.