Bidding Initiated for Missouri Sports Betting: Two Licenses set aside for completely remote sportsbooks
Breaking: Missouri's Sports Betting Applications Open
Drop your popcorn, gamblers! Missouri's here to stir the pot with its sports betting game. Just a smidgen over 3,000 votes swung the state's voters in favor of it during the 2024 election; now, it's shaking up its casinos and the gaming industry as a whole. Here's the lowdown on the latest sports betting news.
The Missouri Gaming Commission (MGC) has officially jumped-started its bidding period for online and retail sports betting licenses, barely half a year after voters squabbled and cheered about Amendment 2 to legalize gambling on professional and college sports. Using their democratic right to decide, Missourians converted the ruling in their favor.
When it comes to applications, the sportsbook wannabes have until July 15, 2025, to submit their bids for one of the two coveted fully online sportsbook concessions. The state's gaming regulators will scrutinize the submissions and hold a jaw-dropping meeting on August 13, with the thrilling license awards scheduled for August 15.
Seems like retail and mobile sportsbook licenses casinos have until September 12, with the honorable permits being gifted to qualified applicants only December 1, 2025.
Awaiting the Green Light
While the MGC spilled the beans on the application process, they remained tight-lipped about when exactly bettors might start placing their wagers. Once the ball rolls in, Missouri will join the ranks of the sports betting heavyweights.
As for the license costs, retail sportsbook licenses will set back casinos by $250,000, while their mobile brethren need to pony up $500,000. Pick your poison, folks!
Take note, tax aficionados, Missouri oddsmakers will take a 10% slice of their gross revenue, which will then be funneled into K-12 public education funds. The first $5 million a year in sports betting taxes will be stashed away for the Missouri Compulsive Gambling Prevention Fund.
The Game is Heating Up
With 13 casinos jockeying for position, the competition is fierce! Behemoths like Caesars Entertainment, which operates three casinos in Missouri, are expected to toss their hats into the ring.
Buckle up as Caesars plans to bid for one of the two fully remote licenses, hoping to limit the number of mobile sportsbook competitors, making it a cutthroat contest. Other operators who can't wait to dive into this juicy market include Affinity Interactive, Bally's Corp., Boyd Gaming, Century Casinos, and Penn Entertainment.
In 2024, Missouri casinos squeezed out a whopping $1.88 billion in revenue, marking a 2% year-over-year drop. With a prediction of over $3 billion in yearly wagers that could generate well over a quarter of a billion dollars in revenue for bookmakers, it looks like the Show-Me State is bound for big bucks!
One for the History Books
Prepare for takeoff, Missouri, because when the sports betting launch takes place, you'll be orbiting alongside 39 other states already in the betting game. Ten of those states were neighbors, namely Iowa, Illinois, Kentucky, Tennessee, Arkansas, Oklahoma, Kansas, Nebraska, which all had legal sports betting in place.
Recently, the American Gaming Association reported that the nation's sports bettors lost a jaw-dropping $13.8 billion to sportsbooks in 2024. Online sports betting is regulated in 33 states, with six states flourishing with in-person betting – Mississippi, Nebraska, New Mexico, North Dakota, South Dakota, and Washington.
Washington, D.C., currently regulates retail and online sports betting, making it the 40th sports betting jurisdiction in the nation. Fancy that! Missouri's just 2 steps away from joining this swanky party as the 39th sports betting state.
Sources:1. Missouri Sports Betting Overview2. Missouri Sports Betting Approved3. Missouri Gaming Commission4. Show-Me Institute Economic Impact Analysis5. Current Sports Betting States
- Century Casinos, Bally's Corp., Boyd Gaming, and Penn Entertainment, aside from Caesars Entertainment, are also anticipated to submit applications for sportsbook licenses in Missouri.
- With the MGC's announcement, sports betting applicants now have until July 15, 2025, to submit bids for fully online sportsbook licenses.
- Retail sportsbook license costs for casinos are set at $250,000, while mobile sportsbook applicants need to pay $500,000.
- Missouri oddsmakers will contribute 10% of their gross revenue to K-12 public education funds, with the first $5 million in sports betting taxes allocated to the Missouri Compulsive Gambling Prevention Fund.
- By joining the sports betting market, Missouri could potentially generate revenue exceeding a quarter of a billion dollars annually.
- Once the sports betting applications process begins, Missouri will join 39 other states, including its neighboring states like Iowa, Illinois, and Kentucky, that have already legalized sports betting.
- Sports betting potential revenue in Missouri could help propel its casinos to compete with the sports betting heavyweights, contributing significantly to the state's general-news and politics sectors.
