Missouri Gaming Commission selects 2 licenses for sports gambling

JEFFERSON CITY, Mo. (KY3) – The Missouri Gaming Commission selected two companies for its two untethered sports betting licenses.

Circa Sports and DraftKings won the bids. FanDuel lost in its bid for a license. The commission considered seven factors when determining who would get the two available mobile licenses. These are written into the amendment put in the Missouri Constitution:

1. Expertise in business
2. Integrity, sustainability, and safety
3. Past relevant experience
4. Advertising and promotional plans
5. Ability to generate revenue for the state
6. Commitment to responsible gaming
7. Capacity to increase the number of betters on their platform

FanDuel and DraftKings both spent millions on the campaign to legalize sports betting, and now they’re hoping to cash in. The third applicant, Circa Sports set itself apart by encouraging large bets and professional gamblers, but may not provide as much tax revenue for the state as the other two.

Other companies can obtain licenses but must partner with an existing casino or professional sports team in Missouri. Some of these partnerships are already being announced.

The state hopes to launch online betting fully by December 1.

Missourians approved sports gambling in November 2024. Under Amendment Two, a 10% tax will be applied to that gambling revenue. The auditor’s office estimates that up to $29 million in tax revenue will come from sports betting. That revenue is allocated first to cover any of the “reasonable expenses” incurred by the Gaming Commission that were not covered by revenue from fees. After those expenses are covered, 10% of the remaining wagering tax revenue or $5 million, whichever is greater, would be allocated to the state’s Compulsive Gaming Prevention Fund. Finally, any remaining revenue is legally required to be spent on “institutions of elementary, secondary, and higher education” in Missouri.

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