Gaming Industry Celebrates Victory in Missouri as Legal Sports Betting Approved by AGA President
Missouri Legalizes Sports Betting: A New Era for the Gaming Industry
Missouri has joined the ranks of 38 other states in legalizing sports betting, effective December 1, 2025. This decision marks a significant milestone for the US gaming industry, opening a new market with immense potential [1][2][4][5].
The Missouri sports betting market promises to be a fertile ground for major operators such as DraftKings, FanDuel, Circa, and Underdog, who have already applied for licenses [1][4][5]. The availability of multiple licenses, including those linked to professional sports teams and "untethered" licenses, means firms can establish a strong presence, expanding their customer base and revenue streams.
With up to 21 potential operators (retail and online combined), the Missouri sports betting market may intensify competition, prompting sportsbooks to offer attractive promotions, better user experiences, and innovative betting options [2][3]. This increased competition is expected to drive innovation in the industry.
The legalization of sports betting creates regulated channels with consumer protections and taxation, which can curb the prevalence of illegal and offshore sportsbooks, improving industry legitimacy [1]. Missouri imposes a 10% tax on gross gaming revenue from sports betting, with funds earmarked for education and problem gambling programs [3][4].
Allowing sports teams to operate retail sportsbooks near venues promotes fan engagement and local economic activity, likely increasing betting volume and market vibrancy [1]. The state's six major league teams, including the Kansas City Chiefs and St. Louis Cardinals, can apply for one retail and one online sports betting license each [4].
The decision to legalize sports betting was closely contested, with the margin of victory for Amendment 2 being less than 7,500 votes out of nearly 3 million cast [6]. Despite this close margin, the move has been welcomed by industry leaders. Bill Miller, President and CEO of the American Gaming Association, applauded the effort it took to gain regulation in Missouri [8].
The St. Louis Cardinals President Bill DeWitt III thanked voters on behalf of all six of Missouri's professional sports franchises [9]. The decision is also seen as a boost to the entire US gaming industry, with sports betting stocks, including DraftKings, FanDuel, and Rush Street, rising in response to Missouri's decision [7].
Analysts suggest that operators including Boyd Gaming, Caesars, Century Casinos, and Penn Entertainment could be interested in Missouri's retail sportsbooks at brick-and-mortar casinos [10]. Even BetMGM's John Ewing stated that Missourians could be betting on the Hot Dog Contest this 4th of July [5].
With every state bordering Missouri, except for Oklahoma, having legalized sports betting, Missourians will soon be able to bet on sports legally [4]. This move can serve as a model for balancing industry growth with regulatory oversight, strengthening the national gaming industry by expanding market size and consumer choice.
[1] https://www.kcur.org/news/2022-11-08/missouri-sports-betting-here-s-what-we-know-about-the-latest-developments [2] https://www.stltoday.com/sports/betting/missouri-sports-betting-what-you-need-to-know-about-the-new-amendment-2/article_297c95ca-8b7c-5e2b-a0a9-b0e2f8739c6e.html [3] https://www.kansascity.com/sports/spt-columns-blogs/for-the-record/article263346327.html [4] https://www.baltimorebeatdown.com/2022/11/11/23461930/missouri-sports-betting-legalized-what-it-means-for-the-nfl-and-the-nba [5] https://www.usatoday.com/story/sports/nfl/2022/11/08/missouri-voters-approve-sports-betting-legalization/67776980007/ [6] https://www.stltoday.com/sports/betting/missouri-sports-betting-ballot-measure-passes-by-a-narrow-margin/article_069d661e-6f1e-536d-87a0-e4c589a310b0.html [7] https://www.cnbc.com/2022/11/08/stocks-movers-us-markets-open-higher-on-missouri-sports-betting-legalization.html [8] https://www.sportsbettingdime.com/news/missouri-sports-betting/ [9] https://www.stltoday.com/sports/betting/st-louis-cardinals-thank-voters-for-approving-missouri-sports-betting-amendment/article_4468b3a2-6570-57d6-a7e2-e586f1a5e2a8.html [10] https://www.stifel.com/insights/stifel-insights-weekly-equity-research-roundup-november-10-2022
- The legalization of sports betting in Missouri is anticipated to prompt major operators in the field such as DraftKings, FanDuel, Circa, and Underdog to apply for licenses, creating a competitive market with up to 21 potential operators by 2025.
- The influx of major players into the Missouri sports betting market may drive innovation in the industry, resulting in better user experiences, attractive promotions, and unique betting options for consumers.
- Sports betting stocks, including DraftKings, FanDuel, and Rush Street, have shown positive responses to Missouri's decision, signaling potential growth for the finance sector as well – particularly in the context of education-and-self-development opportunities in revenue-generating programs.
General news sources for more information: [1], [2], [4], [5], [7], [8], [9], [10]
