Kansas Sports Betting Revenue Sets New Monthly Record in December

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In December, Kansas achieved a groundbreaking milestone in sports wagering revenue by setting a new monthly record of $20.1 million. However, the total amount wagered did not meet the all-time high established in November.

The revenue from online betting amounted to $19.2 million, constituting the majority of the total earnings. The remaining $808,961 in revenue was derived from retail wagering.

Bettors in Kansas embraced various sportsbook promotions, contributing to a total expenditure of $259.7 million. Although this figure fell slightly short of the record set in November by $1.2 million, it marked an impressive 42.7% increase compared to Dec. 2022, which reported nearly $182 million.

The landscape of sports betting in Kansas in December was predominantly shaped by the mobile sector. Online sports betting sites in Kansas accounted for $249.1 million of the overall handle for the month, while an additional $10.6 million was wagered at retail sportsbooks throughout Kansas.

The conclusion of 2023 saw Kansas maintain strong momentum in sports wagering, achieving four consecutive months with a handle exceeding $219 million. This consistent performance throughout the year resulted in the Sunflower State reaching a milestone, with the total sports bets for the year surpassing $2 billion.

DraftKings Kansas Secures Top Spot in Online Sports Betting Handle

DraftKings demonstrated by surpassing the $100 million mark in bets for the third consecutive month in the Sunflower State, reaching an impressive $103.8 million. The operator also led in terms of December revenues, securing $11.9 million.

FanDuel secured its anticipated second position, attracting $86.5 million in bets and generating revenues of $10.3 million.

Following closely, BetMGM claimed the third spot in the race, accumulating approximately $22.5 million in accepted wagers during December.

ESPN Bet, on the other hand, secured the fourth position, trailing BetMGM by around $100,000. By slashing its promotional expenditure from $6 million to a more conservative $2.4 million, ESPN Bet has managed to boost its appeal in the state of Kansas.

In the month of November, their standing was in the fourth position out of six, with a handle of $21.5 million. However, the latest figures indicate an uptick, as they have now garnered acceptance of bets totaling $22.6 million. Remarkably, they find themselves a mere $12,000 away from surpassing BetMGM and securing the coveted third position.

Despite this positive momentum, the unfortunate news is that ESPN Bet did not register a profit in the month of December, aligning themselves with PointsBet, the lowest-ranking operator in terms of handle. This puts both companies in the unenviable position of being the only legal sports betting entities in the state that did not contribute to the much-needed tax revenue during that period.

ESPN BET captured approximately 9.1% of the Kansas market share last month, falling short of their ambitious target of attaining a 20% share of the American market within the next few years.

Hollywood Casino Takes Lead in December Retail Sports Betting

All four retail operators in the Sunflower State jointly generated $800,961 in net revenue.

Hollywood Casino continued to dominate, securing its position as the frontrunner once again. The operator recorded an impressive revenue of $545,035, with a substantial handle of $7.8 million.

Similarly, Kansas Star and FanDuel maintained their second-place standing in the retail market, with Kansas Star generating $208,110 in revenue and boasting a handle of $1.8 million.

Meanwhile, Boot Hill and DraftKings secured the third spot in retail rankings, achieving $42,507 in revenue out of a $417,104 handle.

For the month, Kansas garnered a total of $2 million in sports betting taxes. The online betting segment contributed $1.9 million to this figure, while the retail sector brought in $80,895.

About the Author
Tebearau Egbe

Tebearau Egbe

Tebearau Egbe is a seasoned gambling writer with over four years of experience. Armed with a Masters degree in philosophy, Egbe possesses a unique ability to dissect complex industry developments, distilling them into insightful narratives that captivate readers.

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