Missouri Opens Sports Betting Market: $4 Billion Industry to Boost DraftKings (DKNG.US) and Other Giants

Stock News
Dec 01

Missouri officially launched statewide legal sports betting on December 1. Analysts predict the state, ranked 19th in U.S. population, will develop a highly competitive online market dominated by national gambling brands partnering with local sports teams. First-year betting volume is projected to reach $3.5–4 billion.

The legalization process was established through Amendment 2, approved by voters in November 2024. The regulatory framework allows up to 14 online sports betting licenses, including two standalone licenses, with the remainder tied to the state's casinos and eligible professional sports teams. The Missouri Gaming Commission oversees licensing, compliance, and integrity monitoring.

Major operators expected to launch immediately or soon include bet365, BetMGM, Caesars Entertainment (CZR.US), Circa Sports, DraftKings (DKNG.US), Fanatics Sportsbook, FanDuel (FLUT.US), and theScore Bet (rebranded from ESPN BET). The launch coincides with peak sports season, with platforms aggressively competing for early market share through promotions.

Missouri becomes the 39th U.S. state to legalize sports betting. Looking ahead, Nebraska lawmakers are considering expanding beyond retail betting to statewide online/mobile wagering, while Oklahoma, Georgia, and Minnesota are advancing legislation. Industry observers speculate Texas may revisit constitutional amendment efforts. New Mexico, North Dakota, Florida, and Washington may expand tribal casino betting to broader markets. Prospects remain uncertain in Alabama, Alaska, California, Hawaii, Idaho, South Carolina, and Utah.

Some analysts predict full nationwide legalization within five years, driven partly by the rapid growth of prediction markets like Polymarket, Kalshi, and Robinhood's recent entry. These platforms operating in non-legalized states are pressuring local policymakers toward more open stances.

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