In a remarkable achievement, the state of Kansas witnessed a surge in its sports betting handle, reaching an impressive $249.7 million in October. This figure marks a new monthly record, showcasing a substantial 13.8% increase from the previous month’s handle of $219.3 million in September. The burgeoning success of the state’s sports betting industry is evident, with a significant portion of the handle stemming from online betting, contributing to the overall growth.
Key Metrics for October:
Breaking down the numbers, a substantial $240.9 million of the total handle was generated through online betting, emphasizing the growing popularity and convenience of digital platforms. Retail sports betting contributed $8.8 million to the overall handle, reflecting a continued but comparatively smaller presence in the market.
Revenue Performance:
The revenue generated in October tells a compelling story of the financial success of Kansas’s sports betting landscape. According to the Kansas Lottery, total revenue for the month reached $14.3 million, exhibiting a remarkable 78% increase from September’s revenue of $8.1 million. Mobile betting revenue, a significant driver of overall revenue, saw an impressive 73% uptick, reaching $13.1 million.
Top Performers in Online Sports Betting:
Online sports betting emerged as a dominant force, with Boot Hill Casino and its partner DraftKings leading the charge. Together, they recorded an impressive $114.3 million in bets and $6.3 million in revenue. Kansas Star Casino and FanDuel secured their position with a substantial $67.4 million handle and $4.7 million in revenue. Kansas Crossing Casino and BetMGM contributed to the online success story with a handle of $20.4 million and $1.6 million in revenue.
Retail Leaders:
Hollywood Casino at Kansas Speedway maintained its position as the retail leader, reporting bets amounting to $6.3 million and revenue totaling $951,869. Kansas Star, in partnership with FanDuel, also made a solid contribution with a $1.3 million handle and $198,592 in revenue.
Tax Contributions:
The state reaped the financial benefits of this thriving industry, with tax collections reaching $1.4 million in October, a notable increase from the $806,097 recorded in September. The breakdown includes $1.3 million from online betting and $122,493 from retail operations, underscoring the economic impact of legalized sports betting in Kansas.
One Year of Success:
Kansas entered the sports betting arena on September 1, 2022, and within the first year, bettors enthusiastically wagered over $1.5 billion. This milestone signifies not only the rapid adoption of sports betting in the state but also the sustained interest and engagement of its residents in this burgeoning form of entertainment.
The October sports betting figures for Kansas paint a picture of a thriving industry, with records broken and revenues soaring. The online segment, in particular, stands out as a powerhouse, driving both handle and revenue to new heights. As Kansas celebrates its first year in the sports betting market, the numbers tell a tale of success, growth, and the promising future of this dynamic industry within the state.