Draftkings and Underdog target Missouri as the next big sports betting market
Sports betting is certainly going through a boom across the US, with big players like Draftkings and Underdog disrupting the traditional avenues. Now, both of these companies appear to be trying to get in early in Missouri as it opens its doors to sportsbooks.
The Missouri Gaming Commission (MGC) started welcoming bids from sportsbooks in mid May and according to an MGC spokesperson, the Draftkings and Underdog have been the quickest, and only ones, to get off the mark in putting in an application to operate.
Stacie Stern, Underdog Fantasy’s Senior VP of Government Affairs and Partnerships that the company has “submitted a strong application for a sports betting license” and thanks to a “longstanding and collaborative relationship with the Gaming Commission,” Underdog is aiming to continue “to work closely with the Commission throughout the review process.”
Who else is applying for a license?While it’s not surprising that we’re seeing both of the above applying in Missouri, we may have expected there to be more keen to get in at this early stage.
That’s not to say it isn’t firmly on the cards for other operators with the likes of BetMGM already suggesting that it is interested in the Missouri opportunity. The operator went as far as saying that it is getting everything ready to hit the ground running on “day one.”
In terms of licensing in the state, there are a total of 19 retail and 14 online available and while this may seem like enough to go around, we’re pretty sure there will be a whole host of sportsbooks looking to get in on the action within Missouri.
The Missouri sports betting market is currently aiming for a December 1 launch with all untethered, direct applications closing on July 15. The shop shuts for all other applications around two months later, giving those who want to go down a different avenue a little more time.
As for who is likely to get approved for the state remains to be seen but one thing is for certain is that since both Draftkings and Underdog are throwing their hats in the ring early, others are only going to be playing catchup for the limited spots.
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