Key Moments:
- Underdog withdrew its application just before Missouri’s online sports betting debut on 1 December 2025
- Eight major operators are set to launch on the state’s opening day
- Underdog is redirecting its efforts toward prediction markets, halting its partnership with the Kansas City Royals
Missouri Sports Betting Prepares for December 2025 Launch
Missouri regulators have confirmed that the state is set to introduce legal online sports betting on 1 December 2025. As anticipation grows, pre-registration is already underway for bettors with leading operators.
The launch follows several legislative attempts and a ballot measure that culminated in this milestone. The roster for day one has been finalized, with eight prominent operators preparing to go live.
Underdog Withdraws and Alters Strategy
Just ahead of the scheduled market launch, Underdog made the strategic decision to pull its application to operate a sportsbook in Missouri. According to reports confirmed by the Missouri Gaming Commission, the company is turning its attention to prediction markets rather than state-regulated sports betting. Executive Director Mike Leara stated that Underdog’s shift marks a significant change in focus for the business. An earlier agreement with the Kansas City Royals is now on hold, while the Royals have not commented on this development. Underdog will not be in Missouri’s initial group of licensed operators.
Business Considerations Behind the Move
Launching a sportsbook in a new state like Missouri involves notable capital requirements, compliance demands, and the need for ongoing operational capacity. With the impending influx of established competitors, Underdog’s decision reflects a cost-conscious approach. The company is currently licensed as a sportsbook only in North Carolina, demonstrating a selective stance in choosing regulated markets. Stepping aside now may allow it to revisit opportunities later under more favorable conditions or with refined strategic products.
Prediction Markets as a New Growth Channel
Underdog’s strategy is now focusing on prediction markets. In September 2025, Underdog partnered with Crypto.com’s US derivatives division to introduce event-contract prediction markets within its app. This model operates outside the state-regulated sports betting framework and is marketed as federally compliant, with initial availability in more than 16 states and plans for further expansion.
Because prediction markets do not operate under traditional sportsbook licensing and tax structures, they may present a lighter regulatory burden for companies like Underdog seeking efficient growth during nationwide rollouts.
Missouri’s Sportsbook Lineup at Launch
Missouri’s opening day for regulated online sports betting will feature eight operators. With Underdog stepping aside, the following companies will comprise the initial field:
| Operator |
|---|
| DraftKings |
| FanDuel |
| BetMGM |
| Caesars Sportsbook |
| bet365 |
| theScore Bet |
| Circa Sports |
| Fanatics Sportsbook |
This competitive group includes both national giants and regional specialists, each bringing unique strengths, whether through pricing, in-play betting, rewards programs, or media integration. The entrance of these operators highlights a robust competitive landscape for Missouri’s sports betting market from day one.
Summary
Missouri’s upcoming online sports betting launch promises a high level of competition, with eight operators leading the charge. Underdog’s absence stems from a strategic pivot toward prediction markets, pausing its partnership with the Kansas City Royals. Bettors in Missouri will not find an Underdog sportsbook at launch, but DFS and potentially prediction market offerings remain available from the company.
- Author
Daniel Williams
