FanDuel Partners With St. Louis City SC For Missouri License Odds Shark
After losing out on an untethered sports betting license in Missouri, FanDuel has partnered with MLS club St. Louis City SC to gain access to the US’s newest market.
FanDuel announced a partnership with MLS club St. Louis City SC, enabling it to access the Missouri sports betting market when it opens in December.
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Key Highlights
+ Pivot: After losing out on an untethered license, FanDuel announced a partnership with MLS club St. Louis City SC.
+ Market Access: The partnership will allow FanDuel to apply for a tethered license in Missouri by the September 12 deadline.
+ Winning: The partnership is win-win for FanDuel and “City”. The team will get millions from FanDuel in revenue sharing, while the sportsbook gains access to the newest sports betting market.
+ Pivot: After losing out on an untethered license, FanDuel announced a partnership with MLS club St. Louis City SC.
+ Market Access: The partnership will allow FanDuel to apply for a tethered license in Missouri by the September 12 deadline.
+ Winning: The partnership is win-win for FanDuel and “City”. The team will get millions from FanDuel in revenue sharing, while the sportsbook gains access to the newest sports betting market.
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Quit Pivot After Failure
FanDuel was unsuccessful in its bid to acquire an untethered sports betting license in Missouri. The Missouri Gaming Commission (MGC) gave its two untethered licenses to DraftKings and CircaSports.
FanDuel is arguably the largest sportsbook in America, so seeing it lose out on a prestigious license, specifically to relatively smaller sportsbook Circa Sports, was a shock.
To FanDuel’s credit, they accepted the MGC’s decision and pivoted quickly, announcing this new partnership with the MLS club shortly after losing out on an untethered license.
President of Sport Mike Raffensperger said, “Missouri is home to some of the most passionate sports fans in the country, and we are thrilled to partner with St. Louis CITY SC to introduce our industry leading product to the Show Me State”.
With this new partnership, FanDuel can now apply for one of Missouri’s 12 tethered sports betting licenses before the September 12 deadline.
Tethered License Applicants
With FanDuel moving to acquire a tethered license, the field of applicants is now up to five sportsbooks, leaving another seven tethered licenses up for grabs in the Show-Me State.
| Sportsbook | Market Access Partner |
|---|---|
| bet365 | St. Louis Cardinals |
| BetMGM | Century Casinos |
| FanDuel | St. Louis City SC |
| Underdog | N/A |
| Fanatics | N/A |
A total of 14 licenses are being awarded in Missouri. Two untethered licenses - awarded to DraftKings and Circa Sports - and 12 tethered licenses.
Tethered licenses will be awarded shortly after the application window closes on September 12.
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Big Win For St. Louis City SC
The difference between Missouri’s untethered and tethered sports betting licenses is pretty steep. While FanDuel will save an initial $250,000 in upfront licensing fees, it will lose millions in revenue sharing with its new market access partner.
For City, this new partnership could provide the club with a lot more spending power. Based on Capology, their $15 million payroll is mid-tier in the 30-team league.
St. Louis City SC was created in 2023 as an MLS expansion side. The club has struggled since a surprise first year in the league, finishing fourth. The last two seasons saw the club finish in 23rd and 27th.
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