FanDuel Applies for Missouri Online Sports Betting License

FanDuel’s Strategic Bid for Independence

The untethered licenses, due to be awarded on August 15, are highly sought after because they free operators from revenue-sharing agreements with Missouri’s 13 casinos or six professional sports teams.

FanDuel, a market leader with a 40% share of U.S. sports betting, aims to leverage its independence to offer competitive odds and promotions.

“FanDuel’s application signals our commitment to Missouri’s fans,” said a company spokesperson. Alongside DraftKings, which also applied for an untethered license, FanDuel’s $5 million contribution to the 2024 Amendment 2 campaign, which legalized sports betting, strengthens its position.

Missouri’s Licensing Landscape

The Missouri Gaming Commission has received three sports betting applications to date, with FanDuel and DraftKings targeting the untethered licenses, while Underdog Fantasy applied for both retail and online licenses without disclosing a market access partner.

Additionally, supplier applications from Catalist, Gaming Labs International, and GeoComply signal robust infrastructure development.

The commission will accept untethered license applications until July 15, with a public hearing on August 13, and partnered license applications until September 12.

Missouri’s framework allows up to 14 online and 19 retail licenses, but the untethered slots are the most coveted for their autonomy and cost efficiency.

Competitive Market Dynamics

Other operators are positioning for Missouri’s launch. BetMGM secured a partnership with Century Casinos to offer online and retail betting in Cape Girardeau and Caruthersville, while bet365 tied up with the St. Louis Cardinals for a Busch Stadium sportsbook.

These tethered operators face revenue-sharing obligations, unlike untethered applicants. FanDuel’s existing ties with Boyd Gaming and the St. Louis Cardinals’ broadcast deal with FanDuel Sports Network provide fallback options if its untethered bid fails.