Underdog Withdraws Missouri Sports Betting License Ahead of Launch
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Underdog has officially withdrawn its temporary online sports betting license from Missouri, as confirmed by Missouri Gaming Commission Chairman Jan M. Zimmerman. This decision comes less than a week before the state’s planned launch of sports betting on December 1, 2023.
Originally set to enter a competitive market with eight other licensed operators, Underdog's exit leaves only those eight companies to start betting operations. Among these remaining operators are established names like DraftKings Missouri, FanDuel Missouri, and Caesars Sportsbook Missouri.
Underdog provided no specific reasons for the withdrawal but is said to be shifting its focus toward prediction markets. The company has already launched its prediction market offerings in early September 2023, following a partnership with Crypto.com.
This partnership has allowed Underdog customers to trade and purchase contracts related to sports events across major leagues, including the NFL and college football, marking a notable innovation in the gaming landscape.
A representative from the Missouri Gaming Commission stated that Underdog maintains its fantasy sports contest operator license, which is in good standing despite the withdrawal from sports betting. As of now, the remaining operators are gearing up for the launch, and customers can start registering and funding their accounts.
However, there are additional developments in the market, as PENN Entertainment and ESPN BET Missouri have announced the end of their ten-year partnership, with PENN rebranding its sports betting platform to theScore Bet.
This rebranding will take effect on December 1, 2023, coinciding with the launch of sports betting in Missouri. Current users can still register with ESPN BET, which will transition to theScore Bet, but the timing of these changes adds another layer of complexity to the launch.
The dynamics of Missouri's sports betting market are changing rapidly, and Underdog's decision could impact both bettors and the competitive landscape as the state prepares for its new betting framework.