Kansas Sports Betting Revenue Surges Year-on-Year in February
LISTEN TO THIS ARTICLE:The state of Kansas saw customer spending on sports betting increase 4.6% year-on-year in February to $203 million and revenue increase an enormous 8,405.8%.
Across both retail and online, the total handle for February was far higher than the $194 million bet in February 2023 yet it was 15.3% lower than the $239.6 million bet in January. Of last month’s total, $9.2 million was bet at retail sportsbooks while the bulk of the money, $193.9 million, was bet online.
This means that revenue for February was $3.1 million, up from the $35,916 of the previous year, but 48.3% lower than January’s $6 million. Nearly all the revenue, $3 million, came from online betting, and the rest, just $5,025, from retail betting shops. It means that Kansas brought in $305,494 in tax.
DraftKings and Boot Hill Assume Top Spot
In February, DraftKings and Boot Hill Casino emerged as the top online market performers in Kansas. Their partnership brought in $2 million in revenue from $87.7 million in bets.
FanDuel and Kansas Star, January’s leader, fell to second place, earning $885,938 from $58.5 million in wagers. The partnership between Caesar’s and Kansas Crossing was the only other to earn revenue, bringing in $198,496 for the month. Kansas Crossing also partners with BetMGM and PointsBet online.
In the retail sector, DraftKings and Boot Hill were the sole partnership to report revenue, which was $5,025 from $612,308 in bets.
In regards to the impact on Kansas’s finances through February, total spending for the fiscal year reached $1.61 billion. This includes $1.53 billion in online bets and $73.6 million in retail bets.
Revenue totaled $80.5 million, with online betting contributing $76 million and retail betting $4.5 million. The total tax collected from these activities amounted to $8 million.
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