Record Handle and Revenue in January
In January 2024, the sports betting scene in Kansas witnessed a remarkable milestone as consumers splurged a staggering $239.6 million on sports wagers. This figure reflects a notable increase of 16.3% compared to January 2023. Despite this surge, it falls short by 7.7% when compared to December 2023, where the total wagers reached $259.7 million.
Dominance of Online Betting
The bulk of the betting activity was observed in the online sphere, with online bets accounting for a significant $228.6 million. In contrast, retail sportsbooks reported a mere $11.5 million in wagers during the same period.
Revenue Trends
While the total revenue for January hit $14.3 million, marking a substantial increase of 138.3% from the previous year, it lagged behind the record-breaking revenue of $20.1 million in December 2023. Notably, online sports betting contributed significantly to the revenue, amounting to $14.3 million, while retail sportsbooks generated $668,086 in revenue.
Market Leaders
In the online market, Kansas Star and FanDuel emerged as the leaders, generating $6.1 million in revenue from $77.3 million in bets. Meanwhile, Hollywood Casino at Kansas Speedway dominated the retail market, partnering with ESPNBet to amass $422,845 in revenue from $8.9 million in wagers.
Year-to-Date Performance
For the fiscal year to date, Kansas witnessed a total handle of $1.40 billion, with online bets constituting $1.34 billion of this amount. The total revenue for the fiscal year stood at $77.4 million, with online wagering contributing $72.9 million and retail sportsbooks bringing in $4.5 million. Total tax collections for the fiscal year reached $7.7 million.