Underdog Fantasy Confirms Plans to Enter Missouri Sports Betting Market
Underdog Fantasy, a leading daily fantasy sports provider, has confirmed its intention to apply for a Missouri sports betting license when applications open. This move aligns with CEO Jeremy Levine's aggressive expansion strategy for the company's sports betting operations.
Two basketball players compete in game
Currently, Underdog Fantasy operates online sports betting in North Carolina and holds licenses in Colorado and Ohio. The company already maintains a presence in Missouri through its Champions and Draft daily fantasy sports contests.
Missouri's sports betting framework allows for:
- 19 retail sports betting licenses
- 21 online sports betting licenses
- One retail and one online license per professional sports franchise and land-based casino
- One online betting operator partnership per team and casino
Launch Timeline Updates:
- Original target: Early Summer 2024
- Current status: Delayed due to emergency rules rejection by Secretary of State Denny Hoskins
- New timeline: Rules cannot take effect before August 30, 2024
- Statutory deadline: December 1, 2025
The delay stems from the Missouri Gaming Commission's emergency rules failing to meet state criteria. The Commission submitted proposed rules to the governor's office in early February, but these were rejected during review. Despite the setback, the state must launch sports betting by the December 2025 deadline.
Major operators expected to join Underdog Fantasy in seeking Missouri licenses include FanDuel and DraftKings, though the application period has not yet begun.