Underdog has found its market access point in Missouri.
The sportsbook and daily fantasy sports operator announced a partnership on Monday with Major League Baseball’s Kansas City Royals.
Key Takeaways
- Underdog already had a working relationship with the Royals.
- Eight other sports betting operators have gained market access.
- Online and retail sports betting launch on Dec. 1 in the Show Me State.
Underdog applied for a sports betting license in the Show Me State in June, and the mutli-year collaboration with the Royals would give the operator licensing access to the market when online and retail sports betting in Missouri go live on Dec. 1.
“The Royals have forged a deep and authentic connection with baseball fans throughout the Kansas City region, in Missouri and beyond,” said Stacie Stern, senior vice president of government affairs and partnerships at Underdog. “We’ve built our products with the same approach – real, organic connection with sports fans to get to one goal: make sports more fun. We are going to work with the Royals to bring the best sports betting experience possible to fans in Missouri, while we continue to drive innovation in sports gaming and expand our product offerings in new states.”
Adding to the relationship
The partnership also locks in a marketing campaign and “philanthropic efforts,” according to Underdog. The Royals have worked with the operator and are building off of that previous relationship.
“The Royals look forward to continuing and enhancing our partnership with Underdog, which is our longest-standing relationship in sports gaming,” said Brooks Sherman, Royals president of business operations. “We've partnered with them on some of our most engaging fan programs, like Bark at the Park and the Underdog Hot Dog Derby, and we look forward to working with Underdog to provide Royals fans throughout Missouri the opportunity to have even more fun while watching sports."
Underdog’s application is still pending. The Missouri Gaming Commission is expected to name licensees soon so sports betting operators and providers can complete the compliance process before the December launch.
Other partnerships
Missouri became the 39th state to legalize sports betting when voters passed a ballot initiative last November. Underdog joins a list of nine other sports betting operators to have applied for a Show Me State license.
DraftKings and Circa Sports have already been awarded the state’s two untethered licenses, meaning neither sportsbook has to have a partnership to gain access or share revenue. The rest of the applicants must collaborate with an in-state professional sports team or a land-based Missouri casino operator.
FanDuel partnered with St. Louis CITY FC of the MLS after its untethered bid fell through. bet365 was the first operator to land an agreement when it signed up with MLB’s St. Louis Cardinals.
BetMGM, ESPN BET, Fanatics Sportsbook, and Caesars Sportsbook have all applied for licenses under partnerships with casinos.
Adding a market
While Underdog operates DFS in 40 states, including Missouri, the Show Me State would join North Carolina as the two jurisdictions where the company runs a traditional sportsbook.
The Tar Heel State doesn’t release individual operator revenue figures, so it’s unknown how Underdog is performing there. North Carolina sports betting has produced nearly $1 billion in sportsbook revenue and generated more than $170 million in tax revenue for the state.
