Missouri Targets December Launch for Legal Sports Betting

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Transcript

00:00December 1st is coming quick I know the state of Missouri would have loved to have sports betting

00:05legal in September they couldn't do that but they will get the bowl games in and they'll get the

00:10college football playoffs and you know certainly they'll get the NFL playoffs and Super Bowl as

00:14well but they could be I guess the only ones it feels like Sam Wright to go online this year

00:19yeah definitely when you talk about you know you have like 38 states that have already legalized

00:24sports betting there's just not that many left and the ones where it hasn't been able to happen

00:29it's been the same kind of issues and roadblocks you know the Utah's of the world the Georgia's of

00:33the world doesn't look like it's changing anytime soon so what's the latest in Missouri

00:40see as you mentioned Craig Missouri has a December 1st launch date where it has to go live in December

00:46by that date sports betting has to be up so before then you have a procedural process you have rules

00:52that have to be passed rules that have to be you know regulated back and forth with the applicants

00:58coming in and you also have to approve the applicants coming in today there is a meeting

01:03going on where three sports books that are applying for licenses you've got circa Draftkings and FanDuel

01:09all making presentations to the state why they deserve to get one of two untethered sports betting

01:15licenses now that word untethered is important because there are licenses up for grabs if you partner

01:21with the state's casinos or the state's pro sports teams but to do that you have to you know agree to

01:28a deal with these entities and essentially pay the money and make less doing it so you've got Draftkings

01:33and FanDuel obviously two of the biggest sports books if they don't get one of these untethered

01:37licenses they could easily partner with one of the state's sports teams one of the state's casinos

01:41they have that relationship in place for a company like Circo which is much smaller they kind of

01:46brand themselves as taking money from professional betters less like you know kind of commercial

01:52betters where they're not limiting people and they're you know more of an option out there if

01:57you want to get a lot of money down as opposed to being a big business that squeezes more money out of

02:01their customers this is important for them because they don't have as much capital as those other two

02:05companies but for those other two companies as well it's also about you know squeezing out competition

02:10making sure that a smaller sports book like Circa maybe can't compete in the state you've already

02:16got BetMGM and Bet365 that have partnered with the casinos and the sports teams in the state they

02:22obviously come from companies with a lot of money so it's not a problem for them there but also today

02:28you know not just the you know application process you're going to hear about the rules that are being

02:33put in place where you have this back and forth you know maybe a company says you know here's why this

02:37rule shouldn't exist here's you know how things work you know kind of this period where you hammer

02:42things out before it really goes live so you've got a couple other key dates to watch here as well

02:47on Friday we should hear when the winner is announced for one of these untethered licenses

02:52and then in September you're going to have the final application for the rest of the licenses the

02:56partner with the casinos and the sports books November 30th the rules should take effect and then

03:01hopefully it's smooth sailing December 1st you've got a launch and we're talking about a brand new

03:06big market that launches right kind of at the heart of college football season bowl games as well as

03:11NFL playoffs