BetKansas, a prominent source for sports betting predictions, has released estimates for the sports betting handle that Kansas can expect in its inaugural year of regulated sports betting. According to their projections, the state is set to generate a handle of $1.78 billion within the first 12 months. With a soft launch scheduled for September 1 and the full launch on September 8, coinciding with the start of the NFL season, Kansas is poised to join the ranks of states with successful sports betting markets. Comparisons with Arizona, a state with similar open wagering markets and strong ties to NFL and MLB teams, suggest that Kansas sportsbooks may generate a monthly handle of $150 million in their first year, surpassing Louisiana, Indiana, Iowa, and Wyoming.
Kansas Sports Betting Landscape:
Kansas has four casinos that will be partnering with sportsbooks for their sports betting operations. Hollywood Crossing will collaborate with Barstool and FoxBet, Kansas Star Casino with FanDuel and BetMGM, Kansas Crossing with PointsBet and Caesars, and Boot Hill with Bally Bet and DraftKings. These strategic partnerships will facilitate the launch of sports betting services and contribute to the growth of the industry in the state.
Legalization and Regulatory Measures:
Governor Laura Kelly signed Senate Bill 84 into law in May, paving the way for legal sports betting in Kansas. The bill received approval from both the Senate and the House of Representatives in April. The Kansas Racing and Gaming Commission has also approved regulatory measures, including guidelines for exclusion and layoff, voided and cancelled wagers. These regulatory frameworks ensure that sports betting operations adhere to responsible gambling practices and maintain the integrity of the industry.
Butler National Casino’s Sports Betting Contract Approval:
The Kansas Lottery has granted approval for Butler National Casino’s sports betting contract. As the managing entity of Boot Hill Casino & Resort in Dodge City, Butler National Casino will oversee sports betting operations at the casino and operate three lottery wagering platforms approved by the state. Under the terms of the five-year contract, the state will receive a 10% statutory revenue share. Butler National Corporation CEO Clark Stewart expressed enthusiasm about the approval, stating that the company is actively working with their online wagering platform partners to bring online sports betting to Kansas residents as soon as regulatory clearance is obtained.
With the impending launch of regulated sports betting in Kansas, the state is poised to become a significant player in the sports betting market. BetKansas’s estimates of a $1.78 billion handle in the first year demonstrate the potential for substantial economic growth and revenue generation. The strategic partnerships between casinos and sportsbook operators, along with the state’s regulatory measures, will ensure a responsible and secure betting environment for Kansas residents. As sports betting becomes a reality in the state, Kansas can look forward to joining the ranks of successful sports betting markets across the country.