Missouri Considers Untethered Sports Betting License Applications

USA – August 14, 2025 – www.zonadeazar.com – Just 48 hours before Missouri awards its direct sports betting licenses, FanDuel, DraftKings, and Circa Sports presented their cases to the Missouri Gaming Commission (MGC).

Untethered licenses allow online sportsbooks to operate without partnering with an in-state casino or sports team. They cost $500,000, double the price of a tethered license ($250,000).

FanDuel and DraftKings leverage DFS customer base

The two market leaders emphasized their betting volume and existing presence in Missouri via Daily Fantasy Sports (DFS), highlighting their ability to convert and retain customers for sports betting.

  • DraftKings projects $175 million in annual gross gaming revenue within five years, with around 900,000 active customers.
  • FanDuel forecasts $400 million in annual revenue by 2034 when the market matures.

Circa Sports targets high-stakes bettors

Circa Sports admitted it cannot match the giants in scale but focuses on attracting high-value bettors, offering no limits to professional players and operating with a lower hold percentage (3.5%).

Missouri’s next steps

If denied a direct license, DraftKings and Circa are open to partnering with local teams or casinos. The MGC will award two untethered licenses on August 15 and can issue up to 14 online licenses in total, with tethered license applications due by September 12.

Editó: @_fonta www.zonadeazar.com

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