In the latest roundup of sports betting activity, Kansas has made a noteworthy jump in its monthly handle, outpacing the figures from the same month last year, yet trailing behind the bumper revenue posted in the month prior. The statistics reveal that January’s betting handle stood at an impressive $239 million, clinching a 16.3% increase from January 2023. This achievement, however, reflects a slight reduction of 7.7% when juxtaposed against the robust $259.7 million wagered in December.
The digital sphere continued to dominate the industry, with online betting constituting a dominant $228.6 million of total bets placed throughout January. Conversely, retail sportsbooks reported a more modest figure, accounting for just $11.5 million in wagers. This pronounced disparity between online and offline betting habits underscores the growing trend of bettors favoring the convenience of digital platforms.
In terms of revenue, January witnessed a surge that dramatically eclipsed the performance from the year before—with an astounding 138.3% increase compared to the $6.0 million garnered in the same month in 2022. Nevertheless, despite this significant year-over-year growth, revenue fell short by 28.9% relative to the record-breaking $20.1 million recorded in December 2023.
Delving into the specifics, revenue from online sports betting amounted to a substantial $14.3 million for January. Retail sportsbooks, though trailing far behind, managed to carve out a share totalling $668,086 for the month. This bifurcation further affirms the preeminence of online betting as the driver of the industry’s profitability.
The online market saw Kansas Star, paired with Flutter Entertainment-owned FanDuel, secure the pole position in January, pulling in revenues of $6.1 million from a strong handle of $77.3 million. Boot Hill Casino, in partnership with DraftKings, took the second spot in the online revenue ranking, garnering $5.9 million. Intriguingly, this was despite handling a higher volume of bets amounting to $96.7 million—suggesting a lower yield relative to the market leaders. Kansas Crossing and BetMGM bagged the third position, generating $1.2 million in revenue from their $21.1 million slice of online bets.
On the retail front, Hollywood Casino at Kansas Speedway emerged as the undisputed leader, amassing $422,845 in revenue from $8.9 million wagered, in collaboration with ESPNBet. Following behind was Kansas Star and its alliance with FanDuel, which raked in $164,669 from bets worth $1.5 million. Boot Hill Casino and partner DraftKings trailed with $53,732 in retail revenue off a comparatively modest $402,722 handle.
Broadening the view to the fiscal year thus far, the handle in Kansas amounted to a hefty $1.40 billion, a testimony to the burgeoning sports betting landscape. The lion’s share, a staggering $1.34 billion, was funneled through online channels, with retail venues attracting $64.4 million in bets.
The revenue picture for the year is equally optimistic, with a total of $77.4 million accrued, out of which online wagering has contributed a dominant $72.9 million. Meanwhile, retail sportsbooks have contributed $4.5 million to the fiscal year’s revenue tally.
The state has also gained fiscally, with total tax figures for the fiscal year reaching $7.7 million. This revenue is crucial for funding various state initiatives and represents the tangible benefits reaped from a regulated sports betting market.
The January figures, despite being a notch below December’s highs, signal a robust state of health for Kansas’ sports betting segment, contrasting sharply with the more subdued retail betting domain. As the industry primes itself for the inevitable ebb and flow of seasonal trends, the importance of evolving consumer preferences and technological advancements in shaping future landscapes cannot be overstated.
