Sports betting licenses are now being accepted in Missouri
Caesars Entertainment, a major player in the gaming industry, is set to join the burgeoning online sports betting market in Missouri. This move is likely aimed at maintaining its market share in the state and limiting new competition in the mobile betting space.
Missouri offers two types of sportsbook licenses: untethered (direct mobile) licenses and tethered licenses. The Missouri Gaming Commission will grant a total of 14 licenses, six each for casino operators and professional sports teams, and two for untethered operators.
Untethered Licenses
Operators of untethered licenses can keep 100% of their revenue, with a 10% tax on adjusted gross revenue paid to Missouri. The application evaluation criteria for these licenses include expertise in online sports betting, platform integrity, safety, and sustainability, past operating experience, advertising and promotional plans, ability to generate and sustain state revenue, commitment to responsible gaming, and capacity to grow the number of bettors on the platform. Notable operators like DraftKings and Circa Sports have already received these licenses based on their applications.
Tethered Licenses
Tethered licenses require revenue-sharing partnerships with either a casino or a professional sports team. Operators interested in tethered licenses must submit their applications by September 12, 2025, to be eligible for the statewide launch planned for December 1, 2025.
Application Process
To apply for a sportsbook license in Missouri, applicants must first determine whether they are seeking an untethered or tethered license. They then need to prepare an application demonstrating compliance with the selection criteria, such as experience, platform integrity, promotional and responsible gaming plans, and revenue projections. For tethered licenses, forming revenue-sharing partnerships with Missouri casinos or professional sports teams is also required.
The Missouri Gaming Commission oversees the licensing process, evaluating all applications based on the criteria mentioned above, and issuing licenses accordingly.
Age and Residency Requirements
Operators must ensure that bettors are 21 or older and physically within Missouri state lines. There are no residency requirements for bettors; anyone within state lines aged 21+ can participate.
The remaining tax proceeds from sports betting will support K-12 public education in Missouri. Betting will be allowed on both college and professional sports in the state.
Caesars Entertainment, which operates three casinos in Missouri, is expected to enter the bidding for an online-only sportsbook license through its Caesars Sportsbook brand. The company previously objected to a part of the law that allows two online-only sportsbooks to operate in Missouri without a brick-and-mortar presence. The retail sportsbook license in Missouri costs $250,000, while the fee for a mobile license is $500,000. Caesars Entertainment spent nearly $14 million opposing Amendment 2 initially.
Caesars Entertainment, with a diversified presence in Missouri's gaming industry, may strategically bid for an online-only sportsbook license to extend its market reach, leveraging its Caesars Sportsbook brand. This bidding process in Missouri allows sports-betting operators to apply for untethered licenses, which grant 100% of revenue to the operators while paying a 10% tax on adjusted gross revenue to Missouri, provided they comply with criteria such as expertise in online sports betting, platform integrity, and commitment to responsible gaming.
