- An Underdog Fantasy representative confirmed the company will apply for a Missouri sports betting license
- Jeremy Levine, Founder and CEO of Underdog Fantasy, has said the company will be aggressive in its sports betting expansion
- The application period has yet to begin in the Show-Me State
Missouri has at least one confirmed interested applicant for a license.
An Underdog Fantasy representative confirmed with Sports Betting Dime that the company will be applying for a Missouri sports betting license when the Missouri Gaming Commission opens the license application window.
If approved, Underdog Fantasy would hold four live sports betting licenses across the U.S.
Aggressively Expanding into Sports Betting
Underdog Fantasy Founder and CEO Jeremy Levine has been very clear over the past year that he expects Underdog to be aggressive in its sports betting expansion, noting that the company will look to launch in any legalizing state.
The company confirmed as much with Sports Betting Dime, as it will apply for a sports betting license when the application period opens. Underdog Fantasy currently offers online sports betting in North Carolina and holds active sports betting licenses in both Colorado and Ohio, but has yet to launch in either state.
Under the state’s sports betting legislation, each professional sports franchise and land-based casino will be eligible for one retail sports betting license and one online sports betting license. Each individual team and casino will also be able to partner with up to one online sports betting operator, which is likely where Underdog Fantasy will fit in.
In total, the state can see 19 retail sports betting licenses and 21 online sports betting licenses under this framework. The expectation is that the industry’s biggest names, such as FanDuel Missouri and DraftKings Missouri, will be among that 21.
You can also now count Underdog Fantasy in that figure as well.
Underdog is already active in Missouri, as it offers its Champions and Draft daily fantasy sports (DFS) contests in the state.
But when will Underdog get a chance to apply for a license? And when might Missouri actually launch sports betting?
Missouri Sports Betting Launch Delayed
The Missouri Gaming Commission originally estimated the state would launch its sports betting program in the early summer, but after its emergency sports betting rules were rejected by Missouri Secretary of State Denny Hoskins, launch plans have been delayed considerably.
In January, Missouri Gaming Commission Chair Jan Zimmerman told Sports Betting Dime that the Show-Me State was hoping to launch sports betting in early summer after the process was moving along faster than anticipated.
However, the emergency rules application was rejected by the Missouri Secretary of State. The rules will have to wait to go into effect (if approved) by Aug. 30, which will delay the licensing process and the potential launch.
Missouri statutorily must launch sports betting by Dec. 1, 2025.
The Missouri Gaming Commission delivered the proposed sports betting rules to the Missouri governor’s office in early February. However, Hoskins determined after a review of the rules they did not meet the specific criteria for Missouri’s emergency rulemaking process and rejected the proposal.
Underdog Fantasy, a popular fantasy sports platform, has announced its plans to apply for a sports betting license in the state of Missouri. This move comes as the company looks to expand its offerings and capitalize on the growing popularity of sports betting in the United States.
Underdog Fantasy has already established itself as a leading platform for fantasy sports enthusiasts, offering a wide range of contests and leagues for users to participate in. By adding sports betting to its repertoire, the company aims to provide a comprehensive gaming experience for its users.
The decision to apply for a sports betting license in Missouri is strategic, as the state has recently legalized sports betting and is in the process of setting up regulations for operators. By obtaining a license in Missouri, Underdog Fantasy will be able to tap into a new market of sports bettors and further solidify its position in the industry.
In addition to expanding its offerings, applying for a sports betting license in Missouri will also allow Underdog Fantasy to generate additional revenue streams and increase its overall profitability. With the sports betting market expected to continue growing in the coming years, this move positions the company well for long-term success.
Overall, Underdog Fantasy’s decision to apply for a sports betting license in Missouri is a strategic move that aligns with the company’s goals of growth and expansion. By entering the sports betting market, Underdog Fantasy is poised to attract new users, increase revenue, and solidify its position as a leader in the gaming industry.
