Missouri will officially launch legal sports betting on December 1st, but Underdog, originally highly anticipated, withdrew its operating license application at the last minute, shifting its focus to the less regulated prediction market. Now, eight operators are ready to go online, including well-known brands such as DraftKings and FanDuel. More comprehensive market analysis reports are available on the PASA official website.
Underdog's Withdrawal and Strategic Adjustment
Underdog was one of the first companies to apply for a Missouri sports betting license and had even partnered with the Kansas City Royals and St. Louis Blues. However, unexpectedly, they withdrew at the last moment. Mike Leara, the executive director of the Missouri Gaming Commission, explained that the company shifted its focus to the "prediction market," which is basically unregulated and tax-free, making it more attractive to them.
Eight Operators Confirmed to Participate
Despite losing one player, the lineup of the remaining eight operators is still strong: DraftKings, Circa Sports, Caesars Sportsbook, BetMGM, Bet365, theScore Bet, Fanatics, and FanDuel. These brands are expected to generate significant market heat, especially since Missouri has just legalized sports betting this year, and everyone is waiting for this opportunity.
Prediction Market Becomes a New Industry Trend
Underdog's decision actually reflects a trend in the industry—many companies are looking for opportunities in markets with less regulation and more favorable tax conditions. They currently operate sports betting only in North Carolina but have daily fantasy sports operations in 41 states. By partnering with Crypto.com to expand into the prediction market, they can avoid complex gambling regulations and high taxes in various states, which is simply more cost-effective.
