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The state of Missouri had a long, winding road to legal sports betting. First of all, it took over seven years, just getting a legal marketplace up in December 1, 2025 (the Supreme Court federal ban on betting was lifted in 2018).
The Show-Me State watched as 38 other states legalized before they did. Then came the turning point: the November 2024 elections. In one of the closest ballot votes in state history, legal sports betting passed with under 0.5 percent margin of the vote. A few hundred people swung the vote in favor of legalization.
Though, that was contested too. A recount didn’t happen, but it was discussed. That was all part of a year-long drama to get Missouri sports betting up and running. Set the rules. Approve the licenses. All this until finally going live in early December, when most of NFL betting was in the rear-view mirror.
Anywho, now that time has passed, we have some data on how the state’s new sports betting industry is performing. Keep reading and we’ll tell you the honest truth.
Missouri Starts Off With A Bang
$542 million — that’s how much Missouri bettors wagered during the first month of sports betting in the state. Even more impressive, operators won $104 million from that, though they didn’t profit as we’ll explain later on. These are all official figures straight from the Missouri Gaming Commission.
As a frame of reference, that handle would put Missouri in the top-15 of US betting markets — inbetween Indiana and Tennessee. But… it might be a fluke number due to promotions, which again, we’ll get to soon. But we’re not done talking about how the Missouri market is shaking out this early.
Let’s talk about the top sports betting apps now. To no one’s surprise, FanDuel came out of the gate as Missouri’s top sportsbook, pulling in $212 million in handle during month one. That’s 39 percent of the entire market — actually a tick higher than its usual one-third national share. It generated $46 million in gross revenue.
And as usual, DraftKings finished in second place, just barely though. They booked $195 million in wagers for a 36 percent slice of the pie. It was behind FanDuel by only $17 million so don’t count them out for first place when the January 2025 figures come in.
Third place is a bit of a surprise with bet365, quietly pulling $57.7 million in handle and $18.3 million in gross revenue. The book walked away with a $3.8 million net win because it didn’t splurge on promotions, which we’ll cover in the next section. With a Cardinals promotion to boot, bet365 is shaping up to be the dark horse of the new market.
Here’s how the remainder of the market shook out (listed by total handle, then revenue):
- BetMGM: $28.1 million (5.2%) | $2.00 million (1.93%)
- Fanatics: $22.6 million (4.2%) | $2.22 million (2.14%)
- Caesars: $14.5 million (2.7%) | $2.19 million (2.12%)
- theScore Bet (Penn): $6.25 million (1.2%) | $1.02 million (1.0%)
- Circa: $1.42 million (0.3%) | $117,394 (0.1%)
Promotions Lit Money On Fire
Missouri’s first month of legal sports betting looked huge on the surface, but it was hardly profitable. This is because operators spent a crazy sum on promotions, all in an effort to lure new bettors (and hopefully turn them to long-time users, where they recoup these losses).
We said DraftKings booked $195 million in bets but handed back $163 million in winnings and another $48.5 million in promotional bonuses. That left DraftKings in the red and paying zero in taxes for the month, while carrying $16 million in deductions into January.
FanDuel wasn’t much different — $212 million in wagers, $166 million paid out, plus $53 million in promo credits. Net negative. No tax check cut to the state. Another $7 million in deductions rolled forward.
And remember, Missouri’s tax rate is just 10% on net revenue — less than half of what the state taxes casinos. But when the “net” is wiped out by free bets and marketing spend, 10% of nothing is… nothing. Circa Sports paid just $11,739 in taxes after heavy deductions. For context, Missouri casinos paid $36.2 million in taxes in December alone. Sports betting? Barely a dent.
Of course, this is a one-month, maybe two-month problem. The promotions won’t always be around. It’s only til then that we have a real gauge at just how healthy (or unhealthy) the Missouri betting market is.
Don’t Forget About The Retail Sportsbooks
The sports betting apps soaked up all the attention and market share… but Missouri also legalized it at retail sportsbooks. The state already had physical casinos, and many of those set up a sportsbook to keep pace. Here’s how those physical sportsbooks fared (listed by handle and then revenue again):
- Ameristar St. Charles: $824,880 | $135,992
- Century Cape Girardeau: $637,776 | $146,012
- Hollywood St. Louis: $633,078 | $162,982
- Argosy Riverside: $476,887 | $114,965
- Horseshoe St. Louis: $456,331 | $72,414
- Harrah’s Kansas City: $398,978 | $100,909
- River City: $388,431 | $88,201
- Ameristar Kansas City: $332,596 | $109,409
All in all, sportsbooks took home just over $930,000 off $4.15 million in handle. That works out to a 22 percent win rate, but it’s an inflated number. That’s because some of those bets come from futures markets that will sit in limbo for weeks or months before settling as a win or loss.
Like we said, month one is sort of fluke-y due to promotions and first-time excitement. Early results are promising, but it’ll take time to truly see what Missouri is working with here.
Online betting sites 