Three sports betting operators, namely FanDuel, Circa Sports, and DraftKings – have presented their case in front of the Missouri Gaming Commission with regards to the provision of untethered sports betting licenses. The MGC is supposed to give out only two licenses on the 15th of August.

Three of the nation's most recognized sports betting operators - FanDuel, DraftKings, and Circa Sports - expounded their cases last Wednesday to the Missouri Gaming Commission, each vying for one of two untethered sports betting licenses in the state. The commission will announce its decision on Friday, the 15th of August.

Untethered licenses are highly sought after because they allow operators to launch independently, without partnering with a casino or professional sports franchise for market access. Missouri's sports betting market is set to launch on the 1st of December, 2025, and these licenses could give their holders a significant competitive edge from day one.

Missouri's selection criteria

In outlining its process, the Missouri Gaming Commission reminded applicants that their success will hinge on several factors:

  • Demonstrated expertise in online sports betting operations
  • Integrity, sustainability, and safety of their platforms
  • Proven industry experience
  • Effective advertising and promotional strategies
  • Ability to maximize state revenue
  • Strong commitments to responsible gaming practices

The operator that misses out on an untethered license will still be eligible to apply for a partnered license - retail or online - by the September 12 deadline. In total, Missouri will issue up to 19 retail licenses and 14 online licenses under the framework.

DraftKings highlights established Missouri presence

DraftKings emphasized its long-standing footprint in the Show-Me State through its daily fantasy sports operations. Krista Thomas, the company's Business Development and Partnerships lead, told the commission that DraftKings has been a licensed DFS operator in Missouri for several years and has a direct pathway to convert its current DFS players into sports betting customers.

According to DraftKings Chief Financial Officer Alan Ellingson, the company expects to produce $175 million in gross gaming revenue within its first five years in Missouri. Ellington stated, "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."

DraftKings also signaled flexibility, noting it would gladly partner with a Missouri casino or sports franchise if not awarded one of the two independent licenses. The company already maintains a sports betting partnership with the Kansas City Chiefs.

FanDuel points to built-in customer base

FanDuel's representatives took a similar approach, emphasizing their existing Missouri customer base and operational track record. Rich Cooper, VP of Regulatory, highlighted that FanDuel has been a licensed DFS operator in the state since 2018 and is well-acquainted with local regulations.

Stephen Higgins, Senior Director of Strategic Growth and Innovation, revealed that FanDuel has identified 110,000 Missouri-based customers who have already placed bets with the company in neighboring states where sports betting is legal. "These customers will obviously wager with FanDuel in Missouri when sports betting is launched in December," Higgins noted.

Looking long-term, FanDuel projects annual gross gaming revenues of $400 million by 2034, which would contribute about $40 million in annual tax revenue to the state.

Circa Sports targets high-stakes players

Circa Sports CEO and COO Derek Stevens pitched his company as a niche alternative to the market leaders. While acknowledging that DraftKings and FanDuel dominate roughly 75% of the US market, Stevens stressed that Circa caters to a different class of bettor - those placing higher-dollar wagers.

About 95% of our handle comes from bets over $50, Stevens told the commission. "We take larger bets, we don't limit professional players, and we work closely with our customers to learn from them."

Circa reports having 81,000 fully active Missouri-based customers in its database, all of whom have engaged with the brand in the last 13 months. Like its competitors, Circa expressed interest in pursuing a partnered license if an untethered one isn't secured.

With only two untethered online sports betting licenses up for grabs, at least one of these heavyweights will have to take an alternate route into Missouri's soon-to-launch market. The Missouri Gaming Commission's decision on Friday could shape the competitive landscape as operators prepare for the December 1 launch and the race for market share begins.