Missouri’s sports betting sector delivered solid financial results in March, generating US$36 million in revenue from a total handle of US$329 million. The figures equate to a hold rate of 10.9%, which analysts described as slightly higher than levels seen in other states reporting results for the same period.
Data released on 30 April by J.P. Morgan analyst Daniel Politzer pointed to a stable performance overall, even as promotional spending and operator competition continued to influence outcomes across the market.
Promotions And Hold Shape Operator Returns
From the US$36 million in revenue recorded during the month, operators allocated US$12 million toward promotions and free play. This represented about one-third of total winnings and 4% of overall handle, making it tax-deductible.
The share of revenue spent on promotions declined compared to February, when such incentives made up 36% of winnings. The March drop suggests a shift in how operators balance customer acquisition with profitability.
The 10.9% hold rate stood out compared to other jurisdictions. Politzer noted it was “modestly above other states that have reported March figures,” indicating Missouri sportsbooks retained a slightly larger portion of wagers.
DraftKings and FanDuel Remain Close Rivals
Market share figures show a competitive landscape led by DraftKings and FanDuel.DraftKings held 36% of betting activity, despite a 2% dip in handle from the previous period. FanDuel followed with 33%.
In revenue terms, the two operators posted nearly identical results. DraftKings reported US$13.3 million in winnings, narrowly ahead of FanDuel’s US$13.2 million. Their handles reached US$119 million and US$107 million respectively.
Hold rates offered another comparison. DraftKings recorded an 11.2% hold, while FanDuel exceeded that by one percentage point, showing slightly stronger efficiency.
Mid-Tier Operators Show Varied Performance
Beyond the top two platforms, several operators captured smaller shares of the market with differing results. Bet365 and Fanatics Sportsbook each accounted for 8% of total handle, while BetMGM secured 7%. Caesars Sportsbook and theScore Bet trailed with 4% and 3%, respectively.
Fanatics processed US$28 million in wagers and generated US$1.4 million in revenue, producing the lowest hold rate among major operators at 5%. Bet365, with a similar handle of US$27 million, recorded US$2.8 million in revenue and achieved a 10.3% hold.
BetMGM reported US$3.1 million in revenue from US$25 million in handle, resulting in the highest hold rate at 12.7%. This figure reflects a tighter margin compared to competitors.
Caesars Sportsbook brought in US$1.2 million from US$13 million in bets, translating to a 9.2% hold. Meanwhile, theScore Bet handled US$9 million and generated US$800,000 in revenue, posting a hold rate of 8.9%.
The distribution of results highlights how operators with similar betting volumes can produce different financial outcomes, depending on hold efficiency and promotional strategies. March’s data illustrates a market where competition remains strong and margins vary widely among participants.
Source:
“Missouri sportsbooks hold tightly in March”, completeigaming.com, May 4, 2026
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