Kansas Sports Betting Reaches New High in November
LISTEN TO THIS ARTICLE:In November, Kansas experienced a significant surge in sports betting, setting a new monthly record. Bettors in the state placed $260.9 million in wagers, exceeding the previous month’s record of $249.7 million by 4.5%.
This amount marked a substantial increase of 40.0% from the $186.4 million wagered in the same month last year. The majority of these bets, totaling $251.7 million, were made online, while $9.2 million were placed at retail sportsbooks throughout Kansas.
Related: Kansas Becomes 35th State to Legalize Sports Betting
Mixed Results in November
Despite this impressive handle, November did not witness a corresponding peak in revenue. The month’s sports betting revenue in Kansas was $8.9 million, falling behind October’s record of $14.4 million by 38.2%. However, it still represented an increase of 11.3% from November last year. Of the total revenue, online sports wagering contributed $8.2 million, with an additional $753,778 coming from retail sportsbooks.
A closer look at the market reveals that Boot Hill Casino and DraftKings dominated the online sector in Kansas. Their partnership yielded $4.2 million in revenue from bets totaling $109.6 million. Following them were Kansas Star and FanDuel, generating $2.8 million from a handle of $80.1 million. In third place were Kansas Crossing and BetMGM, with revenue of $962,326 and a $24.1 million handle.
In the retail sector, Barstool and the Hollywood Casino at Kansas Speedway led with $528,142 in revenue from $6.3 million in bets. FanDuel and Kansas Star took the second spot in retail, earning $174,148 from $1.7 million in wagers. Caesars and Kansas Crossing were third, generating $51,488 from bets totaling $463,914.
For the month, Kansas accrued $892,968 in wagering taxes, with $817,590 coming from online betting and $75,378 from retail.
More Finance News
RELATED TOPICS: Finance
Latest News
Responsible Gambling
Parlays, Pressure, and Addiction - The Risks of Modern Sports Betting
Dec 20, 2024Most Read
Must Read
Interviews
When Helping Others Is a Life-Long Mission - An Interview with Gordon Moody CEO, Monica Shafaq
Dec 17, 2024
Interviews
Review this New Post
Leave a Comment
User Comments
Comments for Kansas Sports Betting Reaches New High in November