The Missouri Gaming Commission has opened the licensing process for mobile and retail sports betting operators.
Missouri’s electorate voted in favour of sports betting by the slimmest of margins at the end of last year, with sports betting expected to go live by the constitutionally required start date of December 1.
Each of the state’s 13 casinos are allowed a licence, as are Missouri’s six professional sports teams, including the Kansas City Chiefs and the St Louis Cardinals. The final two online betting licences are not linked to either teams or casinos and will be awarded through a selection process.
Each of the 13 casinos are also permitted a retail sportsbook, as are the six home stadia of the sports teams. Retail sports betting licences will cost $250,000 and online sports betting licences will be $500,000
The application period for all licenses opened on yesterday (May 15), with applications for the two available Direct Mobile Licenses to be due by July 15.
Applicants for Direct Mobile Licenses will have an opportunity to appear before the Commission on August 13, with more information on the process to be provided by the state regulator at a later date.
The Commission will announce the two applicants selected for the available Direct Mobile Licenses on August 15.
For all other retail and mobile licenses, applicants must submit a completed application by September 12, , to offer sports betting on December 1.
The commission intends to work with our stakeholders to make license applications available on May 15 so that interested parties can start the process gathering the necessary documents to complete their applications.
The state’s licensing rules are scheduled to become effective August 30, with this interim period from May 15 to August 30 helping ensure that the Commission has time to properly review applications before decisions are made and temporary licenses are issued.
Missouri’s tax rate for sports betting will be 10 per cent.