Statewide gross gaming revenue also soared by nearly 40% year-over-year while DraftKings and FanDuel account for 87% of that overall haul.
Aug 16, 2024 • 14:57 ET
• 4 min read
July is notorious for its sparse sports calendar and thus its limited betting menu. Kansas sports betting, much like many other legal sports betting states, notched its lowest monthly handle in July 2023 and according to the latest numbers released by the Kansas Lottery, this year will be no different.
Kansas sportsbooks notched their second-worst overall hold of 2024 (7.54%) to generate $9.199 million in revenue.
May and June were the only months of the year where sportsbooks in Kansas maintained a double-digit hold percentage.
July’s revenue was actually not the lowest of the year though, with February’s paltry 4.2% hold only churning $8.46 million for operators despite the $203.0 million handle that month.
State coffers collected $919,947 in tax contributions, with all but $5,237 coming from Kansas’ online sportsbooks.
How it stacks up
To no surprise, handle and revenue both declined month-over-month by 12.9% and 1.8%, respectively. The silver lining though is the Kansas sports betting market is growing in the aggregate since it achieved sizable year-over-year gains in both categories, finishing with a 53.1% boost in handle and a 34.7% increase in revenue.
Sportsbooks in Kansas have also collected more than $100 million in wagers each month since September 2023 as well, even though handle has declined month-over-month since March.
Kansas Governor Laura Kelly recently signed House Bill 2001 into law, allowing her state to offer the NFL’s Kansas City Chiefs and MLB’s Kansas City Royals stadium project incentives to move across the state line. A portion of tax cuts could come from Kansas’ sports betting revenue, while neighboring Missouri still does not have a legal sports betting market.
Best Kansas sportsbooks
There are only four retail sportsbooks in Kansas, with DraftKings, FanDuel, ESPN BET and Caesars operating them.
These four locations collected a total of $3.23 million in retail wagers, with ESPN BET’s spot at Hollywood Casino accounting for $2.26 million of that haul – nearly 70%. Only DraftKings’ and FanDuel’s locations reported revenue totaling $52,372 for the month.
The real action takes place on Kansas’ six online sports betting sites where $118.8 million in wagers were settled in July, driving $9.15 million in revenue for the operators.
BetMGM enjoyed the best hold out of the bunch, with its 11.3% win rate producing $964,426 in revenue on a $8.51 million handle.
DraftKings and FanDuel were the only two online sportsbooks in Kansas to achieve both eight-figure handles and seven-figure revenues.
DraftKings is far and away the top dog in the pack in terms of handle, with now more than $500 million in year-to-date wagering activity.
Operator
July Handle
Revenue
DraftKings
$56.99 million
$4.57 million
FanDuel
$37.499 million
$3.39 million
BetMGM
$8.51 million
$964,426
ESPN BET
$5.71 million
$0
Fanatics
$5.06 million
$0
Caesars
$5.03 million
$221,462
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Publish date : 2024-08-16 07:57:00
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