In May 2024, Kansas experienced a notable decrease in its sports betting handle, falling to $172 million—an 11% drop from April’s figures. This decline comes amidst a competitive market landscape that has seen both retail and online betting activities contribute to the overall figures.
Breakdown of May 2024 Sports Betting Figures
Total Handle: $172 million
Retail Betting: $8.1 million
Online Betting: $164 million
Operators’ Revenue: $9.8 million
State Tax Revenue: $976,000
Retail Sports Betting
Retail sports betting saw Hollywood Casino at Kansas Speedway leading the market. The casino, in partnership with Barstool and ESPN Bet, generated $6.5 million in bets. Following Hollywood Casino, Kansas Star, which features FanDuel, attracted a total of $748,252 in bets. Meanwhile, Caesars at Kansas Cross reported $551,975 in bets.
Online Sports Betting
Online sports betting remains the dominant force in Kansas’ market. DraftKings, in collaboration with Boot Hill, led the online segment with an impressive $75 million in wagers. FanDuel secured the second position with $51.3 million in bets, while BetMGM accounted for $13.5 million.
Year-to-Date Figures
As of mid-2024, Kansas’ sports betting handle has accumulated to $2.22 billion. Operators have reported a cumulative revenue of $107 million for the year. These figures highlight the significant scale and growth potential of the sports betting industry in the state.
Trends
The 11% decrease in May’s handle compared to April might reflect various factors including seasonal fluctuations, changes in sports schedules, or shifts in betting preferences. Despite this dip, the robust performance of online betting platforms suggests that digital wagering continues to drive the market.
The dominance of DraftKings and FanDuel in the online sector underscores a trend towards major players capturing a substantial market share. Meanwhile, the steady performance of retail betting venues indicates a solid, albeit smaller, component of the overall betting ecosystem.
Kansas’ sports betting market is expected to continue evolving with possible adjustments in regulation, promotional activities, and market dynamics. Operators will likely explore new strategies to enhance engagement and capture a larger share of both retail and online segments.
Kansas’ sports betting scene, marked by an $172 million handle in May 2024 and a year-to-date total of $2.22 billion, reflects a dynamic and competitive industry. The decline from April’s figures may be temporary, and the continued strength of online betting platforms provides a promising outlook for future growth.