Circa Sports awarded untethered Missouri sportsbook license in major upset over market leader - cleveland.com
- Updated: Aug. 15, 2025, 1:58 p.m.
- |Published: Aug. 15, 2025, 12:37 p.m.
Circa and DraftKings are now guaranteed to be among the first sportsbooks to go live when Missouri sports betting officially launches on Dec. 1. The two recipients, plus FanDuel, made their pitches to the Missouri GC on Wednesday at a public hearing.
Missouri will be just the sixth state — Nevada, Colorado, Kentucky, Indiana and Illinois — in which Circa will operate. It commands roughly 1 percent of the mobile sports-betting handle nationally.
But Circa’s team apparently made a compelling-enough pitch to appeal to Missouri’s legislators, based on its fledgling midwestern stronghold.
“The fact that there are two untethered licenses in Missouri, and I need to come up with a way to differentiate ourselves from 75 percent of the market share right here in the room with us, is why I’m here,” Circa CEO Derek Stevens said Wednesday.
Technically, Stevens’ classification was a bit low, since DraftKings and FanDuel share about 77 percent of the market in the continent. FanDuel collects about 43 percent of the North American sports-betting handle, and DraftKings rakes in the second-most, about 34 percent.
Plus, FanDuel and DraftKings teamed up with more than $43 million to help get Amendment 2, which legalized both retail and mobile sports betting in Missouri.
Still, Circa also appealed to Missouri based on its ability to lure in sharps due to its ability to accept large wagers.
“We take larger bets, we do not limit professional players, do not limit customers and work with the customers to learn from the,” Stevens said.
An application to be considered for an untethered sportsbook license cost $500,000, which is double that of the application for a sportsbook license that is partnered with a team or casino.
Circa lauded the commission’s decision to award it one of the highly sought-after licenses.
“We are incredibly excited about the state of Missouri and everything it has to offer from a sports betting perspective which is why winning the untethered license and being able to gain market access at favorable rates that align with our model make it such a huge victory,” Jeffrey Benson, director of Circa’s operation, told Sports Betting Dime.
“We can now bring ‘sports betting the way it should be’ to all in the great state and operate our low hold and high volume model in a manner which we believe is very helpful to bettors.”
What happens next?
Though FanDuel is locked out of Missouri at the moment, the sportsbook is still undoubtedly going to operate in the Show Me State. It probably will even be available to Missouri bettors on Dec. 1.
There are 14 mobile sportsbook licenses, and 19 retail sportsbook licenses, available in the state. BetMGM, bet365, Fanatics and Underdog have either already announced partnerships (BetMGM and bet365) or applied for a license (Fanatics and Underdog), but there will be at least a half-dozen spots still available for FanDuel take.
The key date to know as it relates to FanDuel’s Missouri access is Sept. 12: That is the deadline for operators to apply for a license.
Caesars and ESPN BET have land-based casino interests in the state, making them almost guaranteed to have a presence in Missouri this winter.
Though a handful of teams and casinos have already positioned themselves with partnerships, the St. Louis Blues and all the Kansas City-based pro teams are in play for FanDuel.
But FanDuel may have had a contingency available all along. Though its parent company Flutter recently purchased back its full ownership stake from from Boyd Gaming for $1.8 billion last month, the companies are still engaged in a partnership, which could lead to a FanDuel-Boyd reunion.
Boyd Gaming operates a pair of brick-and-mortar casinos in Missouri, the Ameristar Casino and Hotel in Kansas City and the Ameristar Casino Resort Spa in St. Charles, Missouri.
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