FanDuel announced it has secured market access ahead of the Dec. 1. launch of Missouri sports betting. Here's what you need to know.

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The move from the Missouri Gaming Commission to pass up FanDuel for a sports betting license was seen as a major surprise. DraftKings and Circa Sports were selected instead.

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FanDuel came up short earlier in the day when Missouri announced that the two coveted online-only licenses went to rival DraftKings and Circa Sports

DraftKings (NASDAQ:DKNG) and Circa Sports are early leaders in the Missouri sports betting race after the Missouri Gaming Commission selected them as  the winners of the state's two highly coveted untethered online sports betting licenses.

The Missouri Gaming Commission selected two companies for its two untethered sports betting licenses. Circa Sports and DraftKings won the bids. FanDuel lost in its bid for a license. The commission considered seven factors when determining who would get the two available mobile licenses.

The Missouri Gaming Commission selected Circa Sports and DraftKings for the state’s two untethered sports betting licenses Friday morning.