Kansas’ sports betting industry achieved another milestone in November, setting a new record for the third consecutive month with a handle of $260.9 million. This notable increase from the previous record of $249.7 million in October showcases the continued growth and popularity of sports betting in the state. The majority of wagers, totaling $251.7 million, were placed online, with retail sportsbooks contributing $9.2 million to the impressive handle.
Revenue and Sector Breakdown:
Despite a slight dip in revenue compared to October’s record, November’s sports betting revenue stood at $8.9 million, marking a robust 11.3% increase from the same period in 2022. Online sports betting dominated the revenue landscape, accounting for $8.2 million, while retail sportsbooks contributed $753,778. The thriving online sector showcases the evolving preferences of Kansas bettors.
Top Performers:
Among the online sports betting operators, Boot Hill Casino and DraftKings emerged as top performers, generating $4.2 million in revenue from a substantial $109.6 million in bets. Kansas Star and FanDuel secured the second spot with $2.8 million from an $80.1 million handle, while Kansas Crossing and BetMGM ranked third with revenue reaching $962,326 and a handle of $24.1 million.
Retail Contributions:
In the retail sector, Hollywood Casino at Kansas Speedway led with $528,142 in revenue from $6.3 million in bets. FanDuel and Kansas Star reported $174,148 in revenue from $1.7 million in bets, while Caesars and Kansas Crossing registered $51,488 from $463,914. The diverse revenue sources highlight the comprehensive appeal of sports betting in both online and retail formats.
Wagering Taxes and Economic Impact:
Kansas collected $892,968 in wagering taxes during November, further contributing to the state’s revenue stream. Of this amount, $817,590 came from online betting, reflecting the significant economic impact of the growing online sports betting segment. The overall positive trajectory in both handle and revenue positions Kansas as a dynamic player in the evolving landscape of sports betting.
The record-breaking sports betting handle in Kansas for November underscores the industry’s resilience and strong consumer engagement. With online sports betting taking center stage, the state’s diverse operator landscape continues to provide exciting opportunities for both bettors and stakeholders. As Kansas maintains its upward trajectory, the sports betting market is poised for sustained growth and innovation in the months to come.