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Missouri’s legal sports betting launch on December 1 is set to feature three big-name operators — but the way each got here tells a very different story.
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When the Missouri Gaming Commission (MGC) met to award the state’s first mobile sports betting licenses, the expectation was simple — DraftKings and FanDuel, the two biggest names in the U.S. market, would walk away with them.
That’s not how it played out.
Surprisingly, it was Las Vegas-based Circa Sports that claimed one of the two coveted untethered licenses, joining DraftKings on the approval list. These licenses are valuable because they let sportsbooks operate without partnering with a local team or casino, saving millions each year in revenue-sharing fees.
Circa’s win was no small upset. CEO Derek Stevens admitted the company couldn’t match the marketing budgets or customer acquisition power of DraftKings and FanDuel. Instead, he pitched Circa’s business model — high limits, sharp odds, and equal betting limits for all players — as a unique value to Missouri bettors.
“Winning one of Missouri’s first two untethered mobile betting licenses is a great honor,” Stevens said. “We came in as the long shot against national giants like DraftKings and FanDuel, but our licensure approval today proves there’s room for a different kind of operator. Circa Sports is built for bettors, with sharp odds, high limits and a low hold.”
The MGC weighed factors like marketing spend and projected revenue, yet still valued Circa’s distinct approach enough to award it the license over FanDuel.
DraftKings, the nation’s second-largest sportsbook by handle, was the other untethered license winner. The company has long been a major player in regulated sports betting markets and was widely expected to secure a spot in Missouri.
“We’re pleased to secure one of two direct mobile licenses in Missouri – paving the way for us to bring DraftKings’ industry-leading online sportsbook to fans across the state,” said Matt Kalish, DraftKings president and co-founder.
With more than three million monthly average users and years of aggressive marketing, DraftKings will be positioned to compete for early market share when Missouri’s betting apps go live.
FanDuel, the U.S. leader in sports betting by market share, was left without an untethered license. Hours later, it announced a deal with Major League Soccer’s St. Louis City SC to secure market access.
“Missouri is home to some of the most passionate sports fans in the country, and we are thrilled to partner with St. Louis City SC to introduce our industry-leading product to the Show Me State,” said Mike Raffensperger, FanDuel’s president of sports.
The agreement makes Missouri FanDuel’s 25th state, and the operator — owned by Flutter Entertainment — is already projecting strong numbers, having reported $1.79 billion in revenue in the second quarter of 2025.
When betting begins December 1, DraftKings and Circa will operate without a local partner, while FanDuel joins the market through its team tie-up. Other applicants will need similar arrangements with Missouri casinos or professional sports teams to take part.