Kansas achieved a significant milestone in November, setting a new record for sports betting handle, as confirmed by the Kansas Lottery Commission in its latest financial report.
The Sunflower State reported a rise in sports betting activity, with a handle of $260.9 million, marking a 4.5% increase from October’s already impressive figure of $249.7 million. The current month’s handle was also 40% higher when compared to the $186 million handle recorded during the same period in the previous year.
The state has sustained a steady increase in sports betting, maintaining an unbroken streak of handle for the third consecutive month. Each successive month has outperformed the last, with November’s record-setting achievement standing as the latest testament to the state’s fast-growing sports wagering landscape.
Despite the surge in Kansas sports betting handle, November’s generated revenue pales in comparison to the record set in October. November’s sports betting revenue amounted to $8.9 million, suffering a 38.2% decline from October’s record-breaking $14.3 million. However, as opposed to the previous year’s November figure of $8 million, the current revenue highlights an 11.3% year-over-year increase.
Online Sports Betting Handle Surpasses $250 Million in November
Online bettors from Kansas dominated the betting landscape in November, contributing a substantial 96.5% to the total handle, which amounted to an impressive $251.7 million. Meanwhile, in-person bettors made up a smaller portion, accounting for only 3.5% of the total handle, tallying $9.2 million in contributions.
DraftKings, in collaboration with Boot Hill Casino, emerged as the frontrunner in processing the highest handle within the state, reporting $109.6 million in total bets. Following closely behind, FanDuel and Kansas Star, secured the second-highest handle for the month, boasting $80.1 million in wagers placed.
BetMGM and Kansas Crossing secured the third position, albeit at a distance, recording a handle of $24.1 million. Meanwhile, Barstool/ESPN Bet and Hollywood contributed $21.5 million to the overall handle for November.
In November, online operators collectively amassed a revenue of $8.2 million, while revenue from brick-and-mortar retail locations garnered $753,778. This revenue distribution contributed to the state’s coffers, with a total share of $892,968 in tax revenue. Online betting accounted for $817,590 of the generated tax, while retail locations contributed $75,378 to the state’s coffers.
DraftKings took the lead in revenue generation, boasting $4.2 million in earnings and contributing $420,600 in taxes to the state’s revenue collection. Following suit, FanDuel achieved a revenue of $2.8 million and paid $282,429 in taxes. Meanwhile, BetMGM fell short of the million-dollar mark, reporting $962,326 in revenue and contributing $96,233 in tax payments.
In the realm of retail sports betting, Hollywood emerged as the frontrunner, with a handle of $6.3 million and generating $528,142 in revenue, displaying a dominant performance in November. Following at a considerable distance, Kansas Star secured the second spot, amassing a revenue of $174,148 from a total handle of $1.7 million during the same period.
Boot Hill and Kansas Crossing also contributed to the retail landscape, reporting handles of $758,065 and $463,914, respectively. However, the revenue outcomes differed, with Kansas Crossing recording a revenue of $51,488 while Boot Hill registered a negative revenue.
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