The Missouri Gaming Commission has given the green light to sportsbook operators to submit their applications for a state license as of this week.
Thursday (May 15) is the specified day when the documents can be submitted, as the introduction of sports betting in the Show-Me State gathers pace.
Interested operators have until December 1 to present their case, but a limited form of the new framework will be in place before then.
Certain licensing regulations will take effect on August 30, with an interim period between May 15 and August 30 giving space for the Missouri Gaming Commission to run the rule over applications and award temporary licenses to approved providers.
An official statement from the authority said: “The commission intends to work with our stakeholders to make license applications available on May 15 so that interested parties can start the process of gathering the necessary documents to complete their applications.”
The Missouri Gaming Commission intends to issue 19 retail and 21 online sports betting licenses, with the framework allowing the state’s six major league teams to apply for one of each.
Operators primed for new market growth
Missouri voters approved the introduction of legalized sports betting last November, but there have been bumps on the road along the way.
The Gaming Commission was thwarted earlier this year when Secretary of State Denny Hoskins blocked the process to roll out the licensing system, but that back-and-forth tussle appears to be over.
Major industry operators such as FanDuel and DraftKings are likely to be on alert for a new market opening and growth, just like how their share prices spiked on the news of the Missouri vote six months ago.
A new regulated sector will also have consequences for existing black-market providers, with Bill Miller, president and CEO of the American Gaming Association, praising the electorate for landing a “knockout punch” against illegal sports betting in the state.
