At least one operator is already looking forward to Missouri sports betting.
Rush Street Interactive CEO Richard Schwartz told the fourth annual Needham Consumer Tech and Ecommerce Conference this week that the company is preparing for Missouri sports betting. The Show-Me State is awaiting certification of its ballot question after receiving just over 50% of the vote.
Schwartz also spoke about Alberta sports betting and how the rise in sweepstakes gaming platforms could spur more online casino legislation.
Missouri sports betting legalization
Missouri voters approved sports betting by fewer than 4,000 votes on Election Day. While it is within the margin for a recount, it appears unlikely that any party will ask for one.
Schwartz said it is an attractive market because of its population and sports ecosystem. RSI’s BetRivers will apply for one of the sportsbook licenses, he said.
“It’s a large population and one that we think is an attractive market as well for other reasons; we were glad it passed,” Schwartz said.
Missouri sports betting framework
Each of the state’s six professional sports teams can open an in-person sportsbook and partner with an online book. The state’s 13 riverboat casino licenses will also be able to open in-person sportsbooks, with each receiving an online skin.
A Missouri Gaming Commission spokesperson confirmed with LSR the MGC’s interpretation of the ballot language. The MGC can also issue two standalone online sportsbook licenses.
LSR estimates a mature Missouri sports betting market could generate $4.5 billion in annual wagers.
Sportsbooks vying for Missouri
DraftKings and FanDuel will be among the sports betting operators lined up for the Show-Me State after pouring more than $40 million into the ballot initiative. Caesars, which owns three casinos in the state, will also be in line for a license despite funding an expensive opposition campaign.
The opposition eventually slowed its efforts, likely in line with the MGC’s interpretation that each casino will receive a skin, not just the six casino operators.
Penn Entertainment owns multiple Missouri casinos, so its ESPN Bet brand is a shoo-in. Bally’s, Boyd Entertainment, Century Casinos and Affinity Gaming also own casinos.
BetMGM, Fanatics, Underdog, Hard Rock and bet365 are also likely to be interested.
Alberta sports betting also on horizon
In talking about potential North American growth, RSI CFO Kyle Sauers said Alberta could help the company’s growth rate.
Sauers said RSI expects a launch in the Canada sports betting market in the second half of 2025.
Could sweepstakes push online casino legislation?
Schwartz also suggested the rise in sweepstakes casinos across the US could lead legislators to favor online casino legalization.
He believes lawmakers could realize the missed tax revenue streams from the unregulated operators.
“I think that’s a great reason to kind of jump-start even more efforts on iCasino,” he said.
Schwartz also said that, because of the land-based casino market, Missouri could also be a near-future online casino market.
