Missouri sports betting will go live in just 11 weeks, and the Dec. 1 scheduled start date comes at one of the busiest times of the sports calendar. Bettors will be able to wager on pro and college basketball, ice hockey and several other sports – including pro and college football.
When it comes to U.S. sports betting, football is king as it attracts the most bettors and the most money wagered. However, Missouri will be coming in on the tail end of football season and the Chiefs Super Bowl 60 Odds. There will be five full weeks of the NFL season remaining, and college football will have its conference championship games, the first two rounds of the College Football Playoff and most of the bowl games.
Unfortunately, many Missouri sports bettors – and the state itself – will be missing out on three full months of regular season football action. In states where sports betting is legalized and regulated, September, October and November rank among the highest traffic months of the calendar.
BetMissouri.com estimates Missouri bettors would have wagered more than $520 million on just football games and prop bets in those three months. That figure does not include the millions more than would have been bet on such events as the World Series, the Ryder Cup and the start of hockey and basketball seasons.
To boot, sports betting is already popular with some in the Show-Me State, as roughly 1-in-5 residents already place wagers. Check out more insights in our Missouri Sports Betting Survey from August.
Projected Handle | Projected Revenue | Projected Taxes |
$520.6 million | $65.1 million | $6.5 million |
Missouri’s sports betting market is slated to launch on Dec. 1 due to the Secretary of State’s office rejecting the Missouri Gaming Commission’s attempt to implement emergency rules, which would have fast-tracked the launch process. While voters approved a constitutional amendment last November, operators and regulators need time to ensure compliance, testing, and responsible gaming safeguards before going live.
According to projections from BetMissouri.com, the state could be losing out on $6.5 million in tax money during the prime betting months of September through November. With the NFL and college football seasons driving record betting nationwide, Missouri’s late start means MO betting apps and the state treasury will miss a lucrative window.
Don’t forget that sportsbooks typically have a hold rate between 5% to 15%, depending on the type of wager placed. That means that most of the money wagered is returned to bettors, and many of them will cycle their winnings into local economies.
Football is the top driver. Both the NFL and college football are responsible for the majority of betting volume in the fall. Missouri residents are especially eager to bet on the Kansas City Chiefs and local college programs, making the delay even more costly in terms of missed tax revenue and sportsbook profits.
Applications for Missouri sports betting licenses were due last Friday for those operators wanting to launch on Dec. 1, and the Missouri Gaming Commission is set to approve applications next month. Those applicants include: bet365, BetMGM, Caesars Sportsbook, ESPN BET, Fanatics, FanDuel and Underdog. These applicants will need to partner with either a casino or professional sports team located in the state.
Last month, the commission awarded untethered licenses to DraftKings and Circa Sports. These operators will not need to partner with a casino or sports team to offer online Missouri sports betting.
Despite their 0-2 start, the Chiefs are still expected to be among the top teams contending for a Super Bowl this season. However, on the off chance Patrick Mahomes, Travis Kelce and the rest of the Chiefs struggle throughout the season, BetMissouri.com believes that would have a nominal impact on Missouri sports betting.
Thanks to the rise of prop markets, today’s sports bettors are interested in wagering on players’ performance. We expect that even if the Chiefs aren’t in playoff contention, bettors will still be interested in wagering on passing yards for Mahomes, receptions for Kelce and rushing yards for Isiah Pacheco.
Author
Steve is an accomplished, award-winning reporter with more than 20 years of experience covering gaming, sports, politics and business. He has written for the Associated Press, Reuters, The Louisville Courier Journal, The Center Square and numerous other publications. Based in Louisville, Ky., Steve has covered the expansion of sports betting in the U.S. and other gaming matters.
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