for early access to the latest igaming videos!
and get the latest igaming news first!
Missouri’s first full month of legal sports betting came with big volume and also with a brutal reality check: free bets can wipe out taxable revenue fast.
The Missouri Gaming Commission reported $543 million in wagers in December, the state’s first month of regulated sports betting, with more than 99% of that handle coming through mobile books.
But the same report shows why the state didn’t get the “windfall” many voters expected right away. Operators wrote off more than $125 million in promotional credits and similar benefits. Those deductions pushed the market’s adjusted result into the red, with deductions exceeding net revenue by roughly $20 million.
The state’s net take for the month came out to $521,200.
Missouri’s first month went negative with high betting wins
This result wasn’t about bettors winning too much. It was about operators spending aggressively to grab market share, then using deductions that Missouri’s voter-approved rules allow.
The commission’s executive director, Mike Leara, described the heavy promo use as typical for a new market, with big launch offers meant to pull customers into legal books.
Mobile did all the work
Missouri’s first month also showed how lopsided modern sports betting has become. Almost all action ran through phones, not casino counters, even though retail sportsbooks are live.
Two brands dominated activity early, and both leaned hard on promo deductions
In the commission’s report, FanDuel posted $212 million in wagers but still finished with a negative result after winnings and deductions.
DraftKings handled about $195 million and also ended the month negative after payouts and promo-related reductions.
bet365 showed a smaller handle but did report positive revenue after deductions, according to the same breakdown.
Real test happens after the ‘promo’ month
December was always going to be the “promo month.” The real test is what Missouri’s numbers look like once the launch offers fade and books stop spending like it’s a land grab.
Source: Spectrum Local News
