Missouri's Sports Betting Market Takes Off in December

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Missouri's Impressive Start in Sports Betting

Missouri’s recent legalization of sports betting in December has shown promising results, quickly positioning the state as a strong player in the market. In just the first month of legal sports betting, Missouri reported a remarkable $542 million in betting handle, ranking it among the top 15 markets in the United States, nestled between Indiana and Tennessee.

The state saw significant betting activity on football, which accounted for approximately 28% of the total handle. Interestingly, parlays were a major part of this early success, making up 39% of all bets placed. Operators experienced robust earnings from parlays, which constituted about 70% of their total revenue. Despite the state’s residents’ keen participation, customer winnings were not as high, indicating that parlays, while popular, were less profitable for bettors.

Prominent betting companies like Fanel led the market, capturing roughly 39% of the total handle, which is slightly higher than their national average. DraftKing also featured prominently but both companies reported a net loss for the month. Expenses such as promotions and advertising to attract customers in Missouri’s more competitive market may have contributed to these losses.

As the year progresses, the focus will remain on Missouri, assessing whether the high initial engagement continues and how ongoing investments by top betting firms like Bet365 and others impact the broader sports betting landscape in the U.S.