ST. LOUIS—The CEO of Circa Sports (Circa), Derek Stevens, sat down with Spectrum News this week to discuss their thoughts on the first few months of legalized sports gambling in the Show-Me state and the sports book’s plans going forward.
“We took a little bit of a different approach than (other sports books),” said Stevens. “We knew that there was going to be a substantial amount of frenzy and chaos in December and I’m glad to report that we were profitable.”
State elected officials were sour on the first month’s returns from the 14 sports books. Stevens says to get a good idea of state returns, analysts should wait until January or February of next year after each sports season has gone by.
How it started in Missouri for Circa
Circa paid its taxes in both December and January since it didn’t spend nearly as much as some others, per Stevens. Instead of pumping a lot of advertising dollars into the Missouri market last year, Circa took a slower approach.
“We’re not doing the volume that others are but I feel very comfortable—We plan on continuing to grow our market share quarter by quarter, (sports) season by season.”
The “smaller” sportsbook won one of the two untethered sports gambling licensees in Missouri last August before partnering with the St. Louis Blues from day one and the Kansas City Royals last month.
Circa was in five states before Missouri, and the sports gambling regulations established was a “good” environment for them. Stevens adds that he’s happy with Circa’s growth across all of the states that it’s in, except Illinois, where each wager is taxed.
“Illinois has changed the regulatory environment, changed the goalposts twice since we’ve been legal there. I would not have wanted Illinois under the current rules.”
Though profitable and regulations Circa is comfortable; the first month wasn’t all 777s. It saw some difficulties verifying users.
“We definitely ran into a bit of a software issue—we had a handful of ‘like, you got to be kidding me’ moments, but I feel pretty good about now where we’re going.”
He adds that in the first month, Circa’s third-party provider for license verification required all information to be accurate to the T or the application will be held back.
Missouri’s first Circa exclusive campaign
“Win Derek’s Wallet” is the first state-exclusive campaign Circa is doing for Missouri. Until March 15, people may wager varying amounts starting at $100 to earn a share of the $250,000 pot. The prize money will be divided evenly amongst the shares.
Bettors may earn one share by wagering $100 or more, a second share by betting $1,000 or more, and a third share by betting $5,000. Stevens said the first day of campaign was off to a great start with a lot of sign-ups.
Kansas City Royals
Royals fans can expect to see Circa’s presence while at home or at Kauffman Stadium. The sportsbook will air numerous commercials during all 162 regular season games. Both people at home and in attendance will see game-specific bets.
Circa signage decorates the right outfield wall and Stevens plans for the sports book to have fun with people in the front row there. Their plans for St. Louis Cardinals fans will release at a later time.
Since the World Cup this year is being played partly in the United States, Circa’s CEO is excited for its impact on sports gambling. Half-a-dozen of the World Cup matches will be played in Kansas City, Mo.
How new players on sports teams help sportsbooks
Mizzou landing Austin Simmons is good for sportsbook because of brand awareness, says Stevens. “I think it has a big impact, just because it raised the local awareness, situational awareness of a particular team.”
He recalled when the Chicago Blackhawks held the top pick of the 2023 National Hockey League draft, Connor Bedard being drafted by the Blackhawks raise bettor’s interest in the state.
“The Blues have had a lot of injuries this year but this is a great franchise and you pick up a number one, number two guy. All of a sudden, it just kind of accelerates, so I think it has a big impact when we have a big name because everybody is a lot more aware and doesn’t want to miss the game.”
Steven’s can’t miss advice for bettors
When people buy a car, a house and other expenses, they often spend a tremendous amount of time shopping. “I think sometimes, in sports betting, people get too accustomed to an app that they’ve gone on to and it makes sense to do a little bit of shopping.”
He’d obviously love for people to use Circa Sports but he believes bettors should treat their hobby with the same attention – in regards to research – as they would other expenses. Shop around instead of solely betting in one app, Stevens said.