00:00So now let's get to Missouri, because Missouri was that one state to go legal last year.
00:06They started off in December, and I'm going to guess that they're very happy with the results.
00:12December's a very big football month, basketball, and naturally, I have a feeling, Sam, that Missouri will be a big winner here for a while.
00:21Yeah, definitely. Missouri's off to a really, really hot start, having only legalized sports betting in December.
00:27They only have one month of wagering activity, but already in the first month, $542 million in handle in the state, which makes Missouri about a top 15 market right off the bat in between Indiana and Tennessee.
00:40So states of similar size, maybe you would have seen even more handle if the Chiefs had made a deep run into the playoffs like they usually do.
00:48But, you know, Missourians are still betting a lot. They're betting on football a lot, obviously.
00:52Football made up about 28% of the total handle in the first month.
00:56And really interesting as well, 39% of all the handle was tied up in parlays.
01:01So that's almost 40% of all the money that was bet was on a parlay.
01:06And parlays did really well for operators, as they usually have.
01:09They held about 35%, which means that 70% of the revenue that Missouri operators made in their first month was all from parlays.
01:1770% was all from parlays. So not a huge winning bet for customers yet in the state.
01:23FanDuel actually led the way with the most handle at about 39%, which is above what they kind of averaged nationally, although not too much higher.
01:33DraftKings is the same.
01:34Both companies actually took a net loss in the first month, though, when they obviously made a lot on parlays.
01:39But I think they spent a lot of that on promotions, advertising, and really trying to flood the gates in Missouri, which is a bigger state than we've had in the past when we were only talking about, you know, Kansas legalizing or Vermont or a state of that nature.
01:53So, yeah, a lot of money being bet in Missouri so far, football obviously leading the way.
01:58And it'll be something we continue to watch throughout the rest of the year when you think about these companies and their plans.
02:03If they're still spending a lot in Missouri to try to beat out others like Bet365, which also had a really good month, how will that impact the rest of what they're doing across the country as sports betting continues to mature?
02:15Obviously, these companies now have prediction markets as well.
02:17It's going to be a really interesting year.
02:18Missouri is kind of the one sports betting state in the backdrop that we'll be watching as it relates to everything else.
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