Missouri sports betting handle hits $543m in first month of regulation
Legal online sports betting in Missouri launched in December.
US.- The Missouri Gaming Commission (MGC) has reported that the state’s sports betting handle was $543m in December. Deductions, including winnings paid out, voided or cancelled wagers, and promotional free play, reached $563m, resulting in adjusted gross revenue (AGR) of -$20.7m. The state received $521,000 less than 0.01 per cent of the total amount wagered.
The retail sector, comprising eight licensed operators, contributed $4.15m to the handle. Operators recorded a combined taxable AGR of $887,000, led by Hollywood Casino ($158,000) and followed by Century Casino Cape Girardeau ($146,000). Retail operations generated $88,000 in tax revenue.
The mobile market handled $538.8m in wagers but ended the month with negative taxable AGR of $21.6m primarily due to free play deductions totalling $125m. FanDuel and DraftKings had the largest share of the mobile market, with $212.6m and $195.3m in wagers, respectively. FanDuel reported AGR of -$7.18m and DraftKings -$16.9m.
Only four mobile operators reported positive taxable revenue for December. Bet365 reported $3.83m.
Missouri voters approved sports betting through Amendment 2 in November 2024, passing the measure by a margin of just 50.1 per cent. Revenue generated from sports wagering is taxed at a rate of 10 per cent, with the potential allowance of deductions for promotional offers and federal taxes.
Operators began accepting registrations last November after the Missouri Gaming Commission (MGC) granted temporary retail and mobile sports betting licences in October.
