Sports Betting
In September, Kansas sportsbooks generated a record $34.1 million in revenue
Zach Wolpin is an NBA and NFL expert who's been betting on the league for over three years now. Wolpin is a fan of the NFL and NBA and has been watching for a decade and a half. He covers the latest news and stories surrounding the league daily. His passion in life is sports and being able to share that through his writing. He has written about the NBA and other sports leagues through various media outlets over the years like Sir Charles In Charge, G-Men HQ, and TAP into South Plainfield. Before he became a Sports Editor, Wolpin attended Montclair State University where he graduated in 2021. He studied Sports Media and Writing while in school.
Get to know Zach Wolpin betterPublished4 hours ago on October 11, 2024
On Thursday, the Kansas Lottery reported a record $34.1 million in revenue sports sportsbooks across the state. All six operators combined for a double-digit hold of 13.69%. The $34.1 million in September topped their previous record of $30.9 million in December 2023. Revenue was up 87.7% year-over-year and was more than triple their figure from August.
The state’s sports betting handle was $248.9 million, their fifth-highest total in 25 months of legal wagering. Their handle was up 13.5% year-over-year and 69.3% from August. This was Kansas’ second-highest handle behind $252.9 million in March. Finally, the state was able to levy 10% of its $18.3 million in adjusted gross revenue. Resulting in $1.8 million for the state coffers. Kansas has $8.8 million in tax revenue through in the first nine months of the year.
What Kansas sportsbooks were the most profitable in September?
In most states, DraftKings and FanDuel compete for the #1 spot. However, DraftKings is the undisputed #1 in Kansas’ sports betting market. They’ve made it a priority to do so since Kansas first launched sports wagering. DraftKings had a nearly 14% hold to set a new all-time high in the state. They collected $16.7 million in gross revenue from a $119.3 million handle. Additionally, DraftKings surpassed $750 million in the year-to-date handle and is within $70 million of $2 billion total.
FanDuel was $400,000 shy of having their second month in Kansas with at least $10 million in winnings. They did have a 13.7% hold and a $69.9 million handle. The company is now over $50 million in revenue and $500 million handle in 2024. Of all six sportsbooks in the state, BetMGM had the largest hold at 15.1%. That was enough for $2.9 million in revenue from $19.6 million worth of wagers. This was BetMGM’s best month so far in 2024.
Fanatics sportsbooks enjoyed their best month so far in Kansas with a 14.9% hold. Their $1.7 million in revenue and $11.4 million handle were new records for the industry operator. Caesars was the only mobile sportsbook to have less than a $10 million hold in September. They fell $344,000 short.
