Missouri is getting set to launch legal sports betting on December 1, 2025. Before the launch, the state's gaming commission will award two types of licenses: tethered and untethered.
Let's explore the differences between the two licenses, who has applied for each license, and what we can expect going forward.
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GAMBLING PROBLEM? CALL 1-800-GAMBLER, (800) 327-5050 or visit gamblinghelplinema.org (MA). Call 877-8-HOPENY/text HOPENY (467369) (NY).
Please Gamble Responsibly. 888-789-7777/visit ccpg.org (CT), or visit www.mdgamblinghelp.org (MD).
21+ and present in most states. (18+ DC/KY/NH/WY). Void in ONT/OR/NH. Eligibility restrictions apply. On behalf of Boot Hill Casino & Resort (KS). Fees may apply in IL. 1 per new customer. Must register new account to receive reward Token. Must select Token BEFORE placing min. $5 bet to receive $200 in Bonus Bets if your bet wins. Min. -500 odds req. Token and Bonus Bets are single-use and non-withdrawable. Token expires 10/19/25. Bonus Bets expire in 7 days (168 hours). Stake removed from payout. Terms: sportsbook.draftkings.com/
Tethered Vs. Untethered
Two types of sports betting licenses will be handed out in Missouri: tethered and untethered. The difference is perhaps quite obvious, but let's spell it out in case it isn't.
The state will award 12 tethered licenses. To acquire a tethered license, a sportsbook must partner with one of the state's professional sports teams or brick-and-mortar casinos (aka: market access partner). Revenue generated by the book is shared with the market access partner.
Applications for a tethered license must be completed and filed by September 12, 2025.
An untethered license allows a book to operate freely in the state without requiring a market access partner or the obligation to share its revenues with said partner. Only two untethered licenses will be awarded by the state.
Untethered license applications were due by July 15, 2025, and will be awarded on August 15, 2025.
Who Has Applied For A Sports Betting License In Missouri
The window for tethered licenses is open for a month, and the list of applicants is already long and expected to grow. Here are the applicants and their market access partners.
| Sportsbook | Market Access Partner |
|---|---|
| bet365 | St. Louis Cardinals |
| BetMGM | Century Casinos |
| Underdog | N/A |
| Fanatics | N/A |
PENN Entertainment, which owns ESPN Bet, will likely "partner" with itself. The company owns the Hollywood Casino St. Louis and the River City Casino.
Caesars and Bally Bet also operate brick-and-mortar casinos in the state, so expect them to apply before the deadline closes in a month.
When it comes to untethered applicants, the Missouri Gaming Commission (MGC) received applications from DraftKings, FanDuel, and Circa Sports. Because there are only two licenses to award, one of these candidates won't be successful.
Untethered applicants will appear before the MGC on August 13 to plead their case for one of the two licenses, with the MGC announcing the two selected parties on August 15.
The unsuccessful applicant will still have time to apply for a tethered license, as the window remains open until September 12.
Terms and Conditions
GAMBLING PROBLEM? CALL 1-800-GAMBLER, (800) 327-5050 or visit gamblinghelplinema.org (MA). Call 877-8-HOPENY/text HOPENY (467369) (NY).
Please Gamble Responsibly. 888-789-7777/visit ccpg.org (CT), or visit www.mdgamblinghelp.org (MD).
21+ and present in most states. (18+ DC/KY/NH/WY). Void in ONT/OR/NH. Eligibility restrictions apply. On behalf of Boot Hill Casino & Resort (KS). Fees may apply in IL. 1 per new customer. Must register new account to receive reward Token. Must select Token BEFORE placing min. $5 bet to receive $200 in Bonus Bets if your bet wins. Min. -500 odds req. Token and Bonus Bets are single-use and non-withdrawable. Token expires 10/19/25. Bonus Bets expire in 7 days (168 hours). Stake removed from payout. Terms: sportsbook.draftkings.com/
What To Expect From The Untethered License Process?
Circa Sports was a surprise entrant in the race for an untethered license. The relatively small sportsbook is only active in five other states. Meanwhile, DraftKings and FanDuel are active in over 20 states.
Two untethered licenses were also seen as a form of "quid pro quo" for DraftKings and FanDuel. The two giant books were instrumental in opening up Missouri to legal sports gambling. Both sportsbooks donated over $30 million to the pro-gambling advocacy group Winning for Missouri Education.
It is expected that DraftKings and FanDuel will receive one of the two untethered licenses, and Circa Sports will have to apply for a tethered license.
What To Expect From The Tethered License Process?
We still expect several sportsbooks to come forward and apply for one of the 12 tethered licenses. Again, we expect PENN Entertainment (ESPN Bet), Caesars, and Bally Bet to file applications before the deadline closes.
Adding a likely application from the unsuccessful untethered applicant brings the total number of applicants to eight.
