Kansas Releases January Betting Revenue and Marks Yearly Growth
LISTEN TO THIS ARTICLE:Kansas has posted the results for its betting market in January, showing a sports betting handle of $239.6m, up 16.3% year-on-year. The figure, however, is a decrease of 7.7% compared to the $259.7m wagered in December 2023.
Kansas’ January sports betting handle mirrors the trend that has been observed from other states in the US that have released their January betting figures, like Iowa and Indiana, where their total wagers for the month increased year-on-year but fell below December numbers. As usual, online bets make up most of the handle at $228.6m, while retail bets contributed $11.5m.
In terms of revenue, Kansas recorded a total revenue of $14.3m in January. The figure marked a significant 138.3% increase from $6.0m generated in January 2023. However, it declined by 28.9% compared to the record $20.1 million posted in December 2023. Online betting accounted for $14.3m of the total revenue, while $668,086 came in from retail betting.
Related: Super Bowl Betting Surge Sees Thousands of Bets per Second
Kansas Star and FanDuel Leads Online
Kansas Star and its partner, FanDuel, secured the leading position in the online market in January, generating $6.1m in revenue from a total of $77.3m. Boot Hill Casino and DraftKings, who held the top position in December, dropped to second place with $5.9m in online revenue despite handling more wagers, $96.7m. Kansas Crossing and BetMGM claimed third spot with $1.2m in revenue off $21.1m in bets.
In the retail market, Hollywood Casino at Kansas Speedway, in partnership with ESPNBet, emerged as the top performer. Its revenue from retail operations reached $422,845 from $8.9m in wagers. Kansas Star and FanDuel were in second position with $164,669 from $1.5m. Boot Hill and DraftKings placed third with $53,732 from $402,722.
Looking at the fiscal year to date, $1.40bn has been wagered so far in the Sunflower State, with $1.34bn from online and $64.4m from retail locations. Revenue totaled $77.4m, with $72.9m generated from online wagering and $4.5m from retail sportsbooks. The total tax for the fiscal year to date reached $7.7m. Kansas legalized sports betting in May 2022, becoming the 35th state in the US to do so.
More Finance News
RELATED TOPICS: Finance
Latest News
Most Read
Must Read
Interviews
When Helping Others Is a Life-Long Mission - An Interview with Gordon Moody CEO, Monica Shafaq
Dec 17, 2024
Interviews
Review this New Post
Leave a Comment
User Comments
Comments for Kansas Releases January Betting Revenue and Marks Yearly Growth