Rounding up some of the latest monthly sports betting results, iGB analyses how Kansas, Connecticut and Delaware performed during August.
Handle growth drives revenue up in Kansas
Starting in Kansas, total revenue from online and retail sports betting in August hit $6.6m (£5.0m/€5.9m). This is 37.5% ahead of August last year, but 28.3% less than in July.
Online betting drew $6.5m of all revenue in August, with retail’s share at just $123,489.
Spending-wise, total handle for August topped $147.0m. This is some 55.7% ahead of last year and 20.5% higher than July.
As for hold, total hold for the Kansas market in August was 4.5%. Online hold also hit 4.5%, with retail at 3.0%.
DraftKings remains the one to beat in Kansas
Looking to operators in Kansas, DraftKings continues to lead the online market. Partnered with Boot Hill Casino, DraftKings posted $3.0m in revenue off $67.7m in bets, a 4.4% hold.
FanDuel again placed second with $2.6m off $43.8m in handle via its partnership with Kansas Star, meaning a 5.9% hold. BetMGM and Kansas Crossing rounded off the top three with $522,062 from $10.6m, resulting in a 5.0% hold.
Retail-wise, FanDuel and Kansas Star took $115,190 off a $778,142 handle. DraftKings was the only other operator to post revenue, albeit only minimal. ESPNBet took the most bets ($2.7m) but posted zero revenue.
Tax-wise, Kansas collected $657,288 in total from sports betting. Almost all of this – $644,939 – came from online wagering.
Connecticut betting handle tops $123.0m
Switching attention to Connecticut, sports betting gross gaming revenue edged up 8.2% year-on-year to $10.6m. This, however, is 32.9% behind July’s total this year. Retail wagering added a further $875,821 in revenue.
As for handle, online spend hit $123.0m, up 34.7% from August 2023 and a slight rise from July’s $121.8m total. Players also wagered $11.1m at retail sportsbooks.
Total hold for the online market in August hit 8.6%, with retail at 7.9%.
FanDuel and partner Mohegan Sun maintained the lead in the online market. The partnership heralded $5.1m in gross revenue from $53.0m in bets, meaning a 9.6% hold. Fanatics and CT Lottery Corp led the retail sector with revenue of $846,837 off $5.7m, resulting in a 14.9% hold.
Looking to igaming in Connecticut, gross gaming revenue amounted to $37.9m. This is a rise of 51.6% from last year. This comes as players spent a total of $1.24bn in August.
DraftKings and partner Foxwoods drew the most revenue at $20.6m, off $679.1m in total bets.
Mixed results for Delaware in August
Finishing off in Delaware, sports betting revenue in August reached just $702,075. This is 125.6% more than last year but 34.7% less than July’s total.
In terms of handle, players spent a total of $10.3m betting on sports. Again, this is higher than last year by 329.2% – helped by the Delaware Lottery rolling out its new online sportsbook in January.
This means a total market hold of 6.8% for the month.
Delaware Park, which works with Rush Street Interactive and BetRivers, remains the clear market leader in Delaware. For August, it posted $413,697 in sports betting revenue off a $6.4m handle, suggesting a 6.5% hold.
As for igaming in Delaware, total revenue for August was $5.6m. This is 427.3% ahead of last year and 11.5% more than July this year. In total, players wagered $164.3m
Breaking this down, online video games generated a total of $3.7m from $89.7m in bets. Internet table games drew $2.0m in revenue off $74.6m.
As was the case with sports betting, Delaware Park also led in igaming with $3.1m of the monthly revenue total.
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Publish date : 2024-09-19 19:58:00
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