Missouri challenges sports betting titans for an unrestricted license from Circa
In a significant development for the sports betting industry in Missouri, the two untethered mobile sports betting licenses have been awarded to DraftKings and Circa Sports. FanDuel, a top national operator, was not granted an untethered license and is expected to pursue entry through a tethered license partnership with a casino or professional sports team.
These untethered licenses allow sportsbooks to operate independently in Missouri without partnering with casinos or sports teams, enabling them to retain 100% of revenue minus the state’s 10% tax on adjusted gross revenue. DraftKings and Circa secured these licenses based on criteria like expertise, platform integrity, experience, promotional plans, and ability to generate state revenue.
While FanDuel will need to operate via a tethered license that requires revenue sharing with local partners, DraftKings and Circa will be the only two operators with untethered mobile sports betting licenses. This sets them as leaders in Missouri’s upcoming regulated sports betting market.
Missouri sports betting is set to launch on December 1, 2025, and operators seeking tethered licenses must apply by September 12, 2025. The Missouri Gaming Commission will meet again at 9 am Central Friday to select the two winners for the untethered sports betting licenses.
During their presentations, DraftKings and FanDuel highlighted the quality of their sports betting products. Circa, on the other hand, did not shy away from acknowledging its smaller size compared to DraftKings and FanDuel. However, Circa CEO Derek Stevens emphasized Circa's unique differences, using the presentation to showcase its unique offerings and distinguish itself from the larger betting giants.
Matthew Waters of Legal Sports Report was likely present or informed about the presentations made by the operators. The Missouri Gaming Commission is responsible for deciding which operators will receive the two untethered sports betting licenses, and their decision will be made public on Friday. Each operator was given 30 minutes to present why they would benefit the state the most based on seven key guidelines.
As Missouri prepares to join the growing list of states with legal sports betting, DraftKings and Circa have taken the first steps towards establishing themselves as key players in the market. The commission's decision on the two winners for the untethered sports betting licenses will shape the landscape of sports betting in Missouri for years to come.
Sportsbooks DraftKings and Circa Sports are poised to lead Missouri's regulated sports betting market, as they have secured the only two untethered mobile sports betting licenses. These untethered licenses grant them independence to operate in Missouri without revenue-sharing with casinos or sports teams, allowing them to retain full revenue minus a 10% state tax on adjusted gross revenue.
