Underdog Fantasy Eying Entry into Missouri Sports Betting Market

The Show-Me State’s sports betting market still doesn’t have a launch date, but at least one operator is already planning its entry.

Underdog Fantasy has confirmed they plan to apply for a sports betting license in Missouri. The state is still working on setting up the framework for its recently approved sports betting market, meaning the application process has yet to begin. Industry proponents hope it will go live this summer, well before the December 1, 2025 deadline.

The announcement comes as lawmakers and regulators continue to criticize the daily fantasy sports industry. Many operators have faced legal action due to product offerings that straddle the line between fantasy and sports betting. 

These crackdowns have left many wondering where the legal line between the two industries will be drawn. Many sportsbooks have pushed to have DFS subjected to the same (or similar) laws as those enforced on sports betting, preventing them from cutting into their revenue.

Underdog does operate an online sportsbook, but it is currently limited to North Carolina.

New Market Offers New Opportunity

Entering a brand new sports betting market gives an operator like Underdog a unique opportunity. Many potential bettors in those states don’t have a preferred online sportsbook, meaning they won’t have to work to steal customers from rivals. Instead, they can market themselves and look to carve out a niche early on.

Underdog’s interest in sports betting is primarily due to the success of two of its top DFS rivals: DraftKings and FanDuel. These industry leaders used their DFS user base to build sports betting empires. Underdog doesn’t have the same resources to compete at that level but could use a similar strategy to become a second-tier operator.

As excited as Underdog is to launch in Missouri, they may be waiting for a while. The state legalized sports betting through a ballot initiative, circumventing roadblocks in the state legislature. Unfortunately, those roadblocks are now delaying the launch, putting the industry in danger of missing its December deadline.