Casino giant Caesars Entertainment, with its existing land-based casinos in Missouri, is throwing its weight against legalizing online sports betting in the state.
While major players like FanDuel and DraftKings are pushing for online legalization, Caesars is digging in its heels. Here’s the twist: Caesars has pumped $4 million into the “No” campaign, despite seemingly having the infrastructure to compete online. The reason? They might not be able to compete with the heavy hitters like FanDuel and DraftKings in the online space. So, the strategy seems to be protecting their current brick-and-mortar business for as long as possible.
For their part, FanDuel and DraftKings aren’t holding back either. They’ve contributed a combined $10 million to the “Yes” campaign. It’s a battle of the titans!
But there’s a bigger picture here. While these legal giants fight it out, a whopping 73% of the online gambling market is being gobbled up by unlicensed operators. That’s right, according to some sources, illegal operators are raking in a staggering $29.1 billion out of the total $39.9 billion market share in the first half of 2024 alone. The report also highlights the presence of a massive network of 892 illegal operators and 651 affiliate sites promoting them.
