DraftKings and FanDuel Continue to Dominate in Missouri After Two Months

DraftKings and FanDuel have dominated Missouri’s sports betting market since its launch on Dec. 1. Since then, the two operators have accounted for 73% of the overall handle, which has totaled $928 million over the past two months.

The figures, published by the Missouri Gaming Commission (MGC), show that January's total wagers in the Missouri sports betting market reached $380.4 million, a significant drop from December when operators reported a combined handle of $538.9 million. 

Of January’s handle, DraftKings generated $144.4 million and FanDuel $125.7 million, a long way off the third-highest generator in the state, bet365, at $34 million. 

“The latest data shows more Missourians are ditching their bookies and illegal websites and enjoying the safeguards and convenience of placing sports bets legally,” Jack Cardetti, spokesman for the Sports Betting Alliance, said in a statement. “This initial success is building a rock-solid foundation that will ensure Missouri receives the ongoing benefits of legal, regulated sports betting for decades to come, including millions in permanent, dedicated tax revenues.”

While revenue dropped off month-on-month, DraftKings and FanDuel ultimately stayed winning. DraftKings reported a profit of $54.4 million since December, while FanDuel has netted $65.6 million. Residents are loving the Missouri sportsbook promos.

The combined $120 million dwarfs what the operators had to pay during a 2024 campaign, used to fight for legalized sports betting. The campaign had totaled $43 million, while the sportsbooks contributed $20 million each, and the state’s sports teams contributed the remaining sum. 

Also, neither sportsbook has yet paid state taxes. The MGC imposes a 10% tax on sportsbook operators, but a 2024 constitutional amendment allows operators to deduct promotional costs from the overall tax. This means that since December, DraftKings has accumulated $20.6 million in write-offs and FanDuel $8.1 million. Combined write-offs from all eight Missouri sports betting apps total $33.8 million. 

This means another month has passed with very little tax being used to benefit the state. Since December, a combined $659,196 in state taxes has been generated, just under 1% of the profits operators have made.  

Missouri rejects NCAA plea to ban prop bets

As total wagers declined in January, the MGC also received a request that month from the NCAA to ban proposition bets on college sports. While other states like Ohio and New York ban collegiate prop bets, Missouri argued that it was too early to tell whether it should ban them.  

The MGC argued that, as Missouri’s sports betting market was still new, it did not have all the facts needed to have a serious stance on the issue. 

"I think it's important to be as educated about these issues as we possibly can, and at least for my part, I don't feel that I am there," said Jan Zimmerman, chairman of the MGC. "I don't feel that I'm in a place where I have good understanding of what's going on."

The NCAA's rising scrutiny of prop bets was spurred by a January federal indictment that found over 39 players involved in a match-fixing scandal.