Circa Sports Secures Missouri Mobile Sports Betting License, Surprising Industry Giants

Missouri Gaming Commission Awards Coveted Direct Mobile Licenses

The Missouri Gaming Commission has made a significant move in shaping the state’s sports betting landscape by granting one of only two exclusive untethered direct mobile licenses to Circa Sports, a newcomer that outperformed major competitor FanDuel. Although FanDuel will still join Missouri’s market through a separate partnership, this victory marks a notable achievement for Circa Sports.

Understanding Untethered Licenses and Their Impact

Announced on a Friday, the commission’s decision also appointed DraftKings as the other recipient of a direct mobile license, a predictable outcome given DraftKings’ established national footprint. Both Circa Sports and DraftKings will be authorized to operate independently in Missouri when online sports betting launches on December 1, 2025, subject to final approvals.

These untethered licenses are particularly valuable because, unlike tethered licenses that require collaboration with casinos or sports franchises, they enable operators to maintain a standalone presence in the state. Many industry experts were taken aback by Circa’s win, as the company is recognized for appealing to sharp bettors through high betting limits and low margins, outshining the well-funded giant, FanDuel.

Circa’s Unique Business Model and Market Appeal

FanDuel’s loss is notable considering its considerable financial investment in Missouri’s sports betting legalization effort. The Missouri Gaming Commission cited Circa’s innovative business approach as a key factor behind its successful bid. While lacking the scale to match the tax revenue generated by larger operators, Circa offers valuable market diversity and attracts a distinct segment of bettors.

FanDuel’s Strategic Partnership Ensures Market Entry

Circa’s CEO, Derek Stevens, embraced the underdog role, praising the commission’s decision and highlighting his company’s strategic focus and strong customer following. He noted the Circa Club One loyalty program already engaging 81,000 Missouri residents, underscoring the brand’s growing presence.

FanDuel, despite not winning a direct license, secured market access through a collaboration with Major League Soccer’s St. Louis CITY SC, enabling the operator’s sportsbook to launch alongside competitors in Missouri.

Implications for Missouri’s Sports Betting Market

This license win is more than just an expansion opportunity for Circa; it represents a validation of its business philosophy centered on sharp odds and strong customer relationships. With the official launch date nearing, industry observers will be keenly watching how Circa leverages its license to stand out in a competitive environment dominated by large national brands.