Circa Sports

What Circa Sports does

Circa Sports is a Las Vegas-based, privately held sports betting operator that combines a mobile wagering application with physical retail sportsbooks, differentiating through high betting limits and large-scale, no-rake NFL contests. The company operates the Circa | Sports® mobile app in six U.S. states — Nevada, Colorado, Illinois, Iowa, Kentucky, and Missouri — and maintains physical sportsbooks at the flagship Circa Las Vegas property (a 3-story, 24/7 facility), a Kentucky location, and satellite sportsbooks at partner casinos in Nevada including Silverton, Tuscany, and Legends Bay. Founded in 2019 and led by CEO Derek Stevens, the company sits within the broader Circa hospitality ecosystem that also encompasses the Circa Las Vegas resort, the Stadium Swim pool complex, and Circa Hospitality Group I LLC (d/b/a Golden Gate Hotel & Casino).

The company's product surface centers on a location-verified mobile wagering application providing real-time betting menus, account management, and state-specific app versions, complemented by in-person sportsbook infrastructure. Its proprietary contest franchise — Circa Million, Circa Survivor, and Circa Grandissimo — comprises large-field NFL pool contests marketed as no-rake, with combined guaranteed prize pools of $30 million for the 2026-2027 season, including a record $20 million top prize in Circa Survivor. Senior risk manager Jeff Sherman, hired from the WestGate SuperBook in June 2026, leads a traditional bookmaking function that underpins pricing across major U.S. and international sports, with documented depth in golf markets.

Circa Sports generates revenue through vigorish (commission on losing wagers) and contest entry fees, with mobile deposits starting at $50 in Nevada and accounts subject to 16-month inactivity expiration. The go-to-market motion is direct-to-consumer, combining self-serve mobile registration (outside Nevada, which requires in-person signup) with flagship and satellite retail sportsbooks targeting both casual and high-stakes bettors. Geographic expansion has been measured and regulatory-dependent, with Missouri (December 2025) the most recent entry, enabled by one of only two untethered Missouri mobile sports betting licenses. The company is privately held by Derek Stevens with 251-500 employees, operating through state-specific LLCs (Colorado, Illinois, Iowa, Kentucky) and the parent Circa Sports LLC, with no disclosed institutional or venture capital backing.

Name

Circa Sports

Legal name

Circa Sports LLC

Website

https://circasports.com

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

251–500 employees

Short description

Circa Sports is a Las Vegas-based, privately held sports betting operator offering a mobile wagering app across six U.S. states and physical sportsbooks, differentiating through high betting limits and record-breaking, no-rake NFL contests targeting both casual and serious bettors.

Ownership category

akta.pro rank

Product category

Sports Betting & Wagering

NAICS

Gambling Industries (7132), Other Gambling Industries (713290)

SIC

Services-Amusement & Recreation Services (7900)

akta.pro primary industry

Sportsbooks (Online & Mobile Operators) (MPAEACAA)

akta.pro secondary industry

Fantasy-to-Sportsbook Convergence (DFS Sportsbook Hybrids) (MPAEACAM)

Keywords

• Sports betting
• Mobile wagering
• Sportsbook operations
• Betting contests
• High-limit betting

Headquarters

HQ city

Las Vegas

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others, Infrastructure

Revenue model

1. Sports Wagering: Circa Sports generates revenue through sports betting wagers, taking a commission on losing bets. The company accepts wagers across major professional sports leagues and offers real-time betting markets.
2. Contest Entry Fees: Circa operates large-scale betting contests (Circa Million, Circa Survivor, Circa Grandissimo) where participants pay entry fees to compete for guaranteed prize pools. While the contests are marketed as 'no rake', there may be operational revenue derived from entry fees exceeding payout obligations.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

Circa Sports operates a mobile sports betting application and retail sportsbook locations accepting wagers on major professional and college sports leagues across six U.S. states. The company differentiates through high betting limits, transparent player-friendly odds, and large-scale no-rake NFL contests (Circa Million, Circa Survivor, Circa Grandissimo) with combined guaranteed prize pools reaching $30 million.

Product overview

Circa Sports is a Las Vegas-based sports betting operator offering a unified platform combining mobile sports wagering and retail sportsbook experiences. The core offering consists of the Circa | Sports® mobile app (available in Nevada, Colorado, Illinois, Iowa, Kentucky, and Missouri) and physical sportsbooks in Las Vegas and Kentucky. The company differentiates itself through high betting limits and transparent odds. Complementing the core betting product are proprietary contest products—Circa Million, Circa Survivor (with a record $20 million top prize), and Circa Grandissimo—which are large-field NFL pool contests offering combined guaranteed prize pools of $30 million with no rake. Additional amenities include Stadium Swim, a stadium-style pool complex at Circa Las Vegas for watching and betting on sporting events.

Differentiator

Problem solved

Functional benefit

Brands

• Circa Million: Pro Football Contest with multi-million dollar prize pools
• Circa Survivor
• Circa Grandissimo
• Ultimate Contest Weekend

Products and services

• Circa | Sports Mobile App Primary mobile sports betting application available in Nevada, Colorado, Illinois, Iowa, Kentucky, and Missouri. The app allows users to view complete real-time betting menus, place wagers, manage accounts, and access responsible gaming tools. Designed with high betting limits and transparent odds for both casual and serious bettors.
• Circa Sportsbook – Las Vegas A 3-story retail sportsbook located at Circa Las Vegas, open 24/7. Offers in-person sports wagering with high limits and a full betting menu for both casual and high-stakes bettors.
• Circa Sportsbook – Kentucky A retail sportsbook location in Kentucky offering in-person sports wagering services with reservations available.
• Circa Million Circa Sports' flagship NFL Pro Football Contest with large guaranteed prize pools. Circa Million VIII offered a $6 million prize pool for the 2026-2027 season with no-rake structure.
• Circa Survivor Circa Sports' NFL Survivor pool contest where participants select teams each week. The 2026-2027 season featured a record $20 million top prize, the largest guaranteed payout in U.S. betting history. Five entries that finished 20-0 split $18.718 million in the previous season.
• Circa Grandissimo Circa Sports' large-field NFL Pro Football Contest with a $4 million guaranteed prize pool for the 2026-2027 season, all with no rake.
• Stadium Swim A stadium-style pool complex at Circa Las Vegas where patrons can watch sporting events and place bets. Features big screens and sound for viewing games.

Quantifiable outcome

• Largest guaranteed payout in U.S. betting history: $20 million top prize in Circa Survivor
• +2 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• Kansas City RoyalscoreGTM or Marketing Partner · 30 January 2026Circa Sports named Official Sports Betting Partner of the Kansas City Royals. The partnership fills the void left when Underdog exited the Missouri sports betting market prior to the December 1 launch. Circa receives prominent signage and fan experiences at Kauffman Stadium, VIP hospitality integrations, and promotional events. The partnership officially debuted at Royals Rally Casino Night on January 30, 2026. As a marketing partnership, Circa integrates branding into Royals fan experiences without revenue-sharing obligations to the MLB club.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Emerging players

• Hard Rock Bet: Hard Rock Digital's online sportsbook expanding state by state with a brand tied to the Hard Rock hospitality and entertainment empire. It is an emerging multi-state competitor with overlapping geographic ambitions and similar focus on integrated entertainment experiences.
• Underdog Sports: DFS and pick'em operator that previously entered Missouri sports betting before exiting prior to the December 2025 launch, creating the opening Circa filled via the Royals partnership. Underdog represents an adjacent fantasy/sportsbook convergence peer.

Broad incumbents

• FanDuel: Market-leading U.S. online sportsbook and DFS operator with a mobile app available across most legalized states including several overlapping with Circa. FanDuel competes for the same casual bettor segment Circa targets with its 'designed for players' positioning.
• Caesars Sportsbook: Operated by Caesars Entertainment, Caesars Sportsbook offers online and retail sports wagering across most legalized U.S. states, including the same six states as Circa. It is a broad incumbent with a rewards-integrated offering that competes for the same high-value bettor cohort Circa targets.
• DraftKings: Largest U.S. online sportsbook operator by handle, with a mobile-first platform live across most legalized states including NV, CO, IL, IA, KY. DraftKings competes broadly with Circa for casual and serious bettors, though with a much larger marketing budget and broader product suite.
• ESPN BET (Penn Entertainment): Penn Entertainment's online sportsbook powered by the ESPN brand, operating across multiple U.S. states. ESPN BET competes for the same casual and engaged sports fan demographic that Circa targets, with significantly greater media and brand reach.
• Bet365: Global online gambling leader that has entered several U.S. states with a deep-market sportsbook offering. Bet365's competitive odds and international scale make it a relevant incumbent peer in any state where Circa operates.
• BetMGM: Joint venture of MGM Resorts and Entain, operating a full-service online sportsbook and iGaming platform across multiple U.S. states. BetMGM competes head-to-head with Circa in several overlapping states (NV, CO, IL, IA, KY, MO) but at significantly greater scale and marketing spend.

Direct peers

• Westgate SuperBook: Las Vegas-based sportsbook operator renowned for high betting limits and sharp-friendly odds, the closest direct analog to Circa's high-roller positioning. SuperBook is where Circa's newly hired senior risk manager Jeff Sherman previously served as a veteran bookmaker.
• BetRivers / Rush Street Interactive: Rush Street Interactive's BetRivers operates online sportsbooks and casinos across numerous U.S. states, including overlap with Circa in Colorado, Illinois, Iowa, and potentially Missouri. It is a similar-sized multi-state digital sportsbook peer competing for the same mid-market bettor segment.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/CircaSports
• Instagraminstagram.com/circasports
• Facebookfacebook.com/circasports
• LinkedInlinkedin.com/company/circa-sports

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Circa Sports