Missouri will launch legal online sports betting on 1 December 2025. Just days before the start, Underdog withdrew its application to operate in the state and will not be part of the initial line‑up, according to multiple media reports. Regulators confirmed the move, which reports link to a shift in focus towards prediction markets rather than sportsbook operations. The opening roster remains strong, with eight operators set to go live on Day One.
Missouri’s path to legal sports betting involved several legislative attempts after PASPA’s repeal in 2018, eventually leading to a ballot measure and rulemaking that set the stage for a winter 2025 launch. The state is scheduled to go live with mobile sportsbooks on 1 December 2025. Major operators have already opened pre‑registration ahead of the launch date.
The Missouri Gaming Commission confirmed to Fox2Now that Underdog withdrew its application ahead of the state’s launch. Executive Director Mike Leara said the company is shifting focus to prediction markets instead of regulated sports betting. Underdog had announced a market‑access agreement with the Kansas City Royals, but that deal is now on hold. The company will not be part of the initial group of licensed operators, and the Royals have not commented.
Launching a sportsbook in a new state requires capital, compliance work, and ongoing operations. With Missouri close to launch and larger operators expected to dominate early, Underdog is narrowing its focus rather than entering a heavily regulated market. This aligns with its shift towards prediction markets.
Missouri would have been Underdog’s second regulated sportsbook market after North Carolina. For now, North Carolina remains its only sportsbook state, showing the company is selective about where it operates.
Opening‑day markets often favour national leaders with established technology, large budgets, and experienced teams. Sitting out the launch can be a cost‑driven decision if a company expects better returns from building other products, such as prediction markets, or by entering later when costs and compliance are clearer.
In September 2025, Underdog partnered with Crypto.com’s US derivatives arm to introduce event‑contract prediction markets in its app. This approach is presented as a federally compliant alternative to state‑regulated sports betting, with an initial roll‑out across more than 16 states and plans to expand.
Prediction markets follow a different regulatory path and may not face the same state gaming taxes or licensing requirements as sportsbooks. This lighter compliance framework can be appealing for companies looking to manage costs during expansion.
Missouri users will continue to have access to Underdog’s DFS and may see prediction‑market offerings, but they will not have a traditional sportsbook from Underdog at launch. For fixed‑odds betting, they will choose from the eight licensed operators going live.
Regulators have confirmed that Missouri’s sports betting launch on 1 December 2025 will feature eight operators: DraftKings, FanDuel, BetMGM, Caesars Sportsbook, bet365, theScore Bet, Circa Sports, and Fanatics Sportsbook. Underdog’s withdrawal means it will not be part of the initial group of licensed sportsbooks.
The competitive landscape is expected to be intense among these eight. FanDuel and DraftKings remain the dominant national players, while BetMGM and Caesars rely on their rewards networks. bet365 emphasises pricing and in‑play markets, theScore Bet integrates betting with media, Circa Sports is known for low‑margin lines and high limits, and Fanatics combines betting with its merchandise presence. Together, they set the stage for a highly competitive launch.
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