The deadline to submit applications for sports betting licenses in Missouri has passed. Here is a look at the sportsbooks that applied for licenses so they can launch when the state goes live in December.
Nine Sportsbooks Apply for Licenses
Nine sportsbooks, including DraftKings and Circa Sports, have applied for sports betting licenses. They beat the September 12 deadline, which means, if approved, the sportsbooks will be able to launch when the state goes live in December. Take a look at the sportsbooks that applied.
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BetRivers, Hard Rock Bet Absent from Applicants
Surprisingly, a few popular sportsbook brands did not apply in time for the first deadline. This doesn’t mean that these sportsbooks can’t join the state at a later date. Missouri will allow up to 14 mobile and 19 retail licenses, so there is room for more operators to join the state. Since they didn’t apply by the first deadline, they will not be able to launch when the state goes live in early December.
BetRivers has yet to set any plans for Missouri, and it will be interesting to see what the sportsbook operator does after launch.
Sportsbooks Must Partner with Casinos or Pro Sports Teams
Sportsbooks in the state of Missouri need to partner with in-state casino brands or professional sports teams to gain access to the market in Missouri. The only two sportsbooks that can launch independently are DraftKings and Circa Sports. These two sportsbooks earned the two available untethered licenses in Missouri. This allows them to operate without a partnership in the state.
MGC Finalizes Tax Structure
The Missouri Gaming Commission has a tax structure in place for sportsbooks in the state. DraftKings and Circa Sports paid a $500,000 untethered licensing fee, while the rest of the sportsbooks were charged $250,000.
The tax rate will be 10% for both retail and mobile sports betting on adjusted gross receipts. It’s a much lower tax rate than most states with legal sports betting. The number aligns with states nearby like Kansas and Iowa.
Also, a minimum of $5 of remaining revenue (or 10%) will be sent to the Compulsive Gambling Prevention Fund. The rest will go toward education.
Missouri Sports Betting Goes Live on December 1
Missouri sports betting will launch on December 1. It will give bettors in the state the chance to bet on the final weeks of the NFL regular season and playoffs. Also, bettors will be able to wager on college football bowl games and the CFP.
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