Published on: January 30, 2026, 02:28h.
Updated on: January 30, 2026, 02:28h.
- State achieved an impressive $543 million in handle during its inaugural month of online sports betting
- FanDuel secured a 40% share of the handle, slightly above its average across active states
- DraftKings remained consistent with previous state launches
On Friday, the Missouri Gaming Commission (MGC) disclosed figures showing that sportsbook operators accumulated a handle of $543 million in December, marking the first month of legal and operational online sports wagering in the state.
According to Stifel analyst Jeffrey Stantial, Missouri’s per capita betting figure hovers around $85 per adult of legal betting age, which is lower than the $91 and $92 observed in North Carolina and Ohio, respectively—the two states that sanctioned online sports betting just before Missouri. Notably, Flutter Entertainment’s FanDuel, the largest online sportsbook in the U.S., has had an impressive start in the Show Me state.
“FanDuel claimed 40% of the handle share, 45% of gross gaming revenue (GGR) share, and 39% of handle excluding promotional contributions in its debut month,” stated Stantial in his report. “This is compared to the company’s reported aggregate GGR share of 38% in Q3 2025 (excluding Tennessee) and 34%/41% T3M handle/GGR share in Ohio. Although market share in launch months can vary, an above-average active-state market share is noteworthy amidst concerns of potential market share loss due to competitor enhancements.”
DraftKings’ shares (NASDAQ: DKNG) have seen an 8.48% decline at present, likely due to investor expectations for greater performance from the operator’s initial month in Missouri, where it achieved a 36% handle share.
“While the initial market share aligns with trend expectations, we believe a stronger debut performance was anticipated given product improvements and market share growth in more competitive states,” remarked Stantial.
Bet365 Tops Tier 2 Operators in Missouri
Though only one month’s worth of data is available, the MGC’s December report confirms the ongoing duopoly between FanDuel and DraftKings, while also highlighting at least one Tier 2 (T2) operator that started robustly in the state.
Stantial pointed out that Bet365 captured 11% of the handle and 18% of GGR, outperforming its previous three-month metrics in Ohio and surpassing its broader active state averages. In contrast, Fanatics faced a rough start in Missouri, acquiring only 4% of the handle and 2% of GGR.
“Meanwhile, BetMGM, Penn Entertainment (NASDAQ: PENN), and Caesars Entertainment (NASDAQ: CZR) performed at or below average market shares, implying that T2 market share growth may be exclusive to Bet365 for now,” Stantial elaborated.
On the subject of promotional strategies, operators invested $125 million in Missouri last month. The state permits such expenditures to be deducted from taxable profits, resulting in only $1 million available for educational and gambling counseling initiatives.
Market Predictions Insights
Missouri sportsbook operators face a unique challenge: capturing market share from prediction market firms that were already providing sports event contracts in the state before the legalization of sports betting.
“Recent trading behaviors indicate that investors might be interpreting the slower market launch velocity as indicative of the influence from prediction markets that were operational before the official launch, potentially affecting existing demand dynamics compared to earlier state introductions,” noted Stantial.
Typically, sportsbook operators that are also involved in prediction markets refrain from offering sports event contracts in states where online sports betting is permitted.