Kansas Posting Impressive Sports Betting Numbers
Kansas was not supposed to be a large sports betting market, but it’s off to a fast start. Check out how the state of Kansas fared during the month of October.
Kansas Posting Impressive Sports Betting Numbers
Kansas officially launched sports betting on September 1, and not much was expected from the state in the early going. We are now through two full months of sports betting in Kansas, and the numbers have been much better than expected.
The month of October was a big month for sportsbooks in the state as the total sports betting handle was up around $190 million. This presented a growth of nearly 20% from the first full month, and over $350 has been wagered up to this point.
Kansas wasted little time in getting sports betting up and running after legalizing the industry, and launching before the start of the 2022 NFL season was a good move. The NFL provided plenty of betting action again in October, and that trend should continue throughout 2022.
Despite the big jump in total sports betting handle, the total revenue actually dipped down to less than $19 million. This was due to the fact that sportsbooks won just 9.8% of the bets in October after a dominant start.
The state of Kansas is still not making any money off of the new industry as sportsbooks are able to subtract promotional credits when reporting on the revenue. That is eventually going to fade away as time moves along, but the sportsbooks are trying to recruit new bettors during football season.
DraftKings Dominant to Start
DraftKings Sportsbook is one of the biggest online sportsbook operators throughout the country, and it has taken complete control to kick things off in Kansas. There is plenty of competition in the state of Kansas, but DraftKings led the way in both total handle and total revenue.
FanDuel Sportsbook is trying to keep pace with DraftKings, and it might be the first big name to pay some taxes to the state. FanDuel hasn’t been offering as many promotional credits as DraftKings, and the overall gross revenue hasn’t been as high either.
BetMGM hasn’t been able to keep up with the top two operators in terms of total sports betting handle, but it has performed well. This operator joined FanDuel Sportsbook as the only two operators to win at least 10 percent of the wagers for back-to-back months.
Barstool Sportsbook Leading Retail Charge
While both online and retail sports betting is available in Kansas, mobile sportsbooks are expected to bring in most of the action. Barstool Sportsbook is doing all that it can to bump up the retail numbers though, and it’s in the perfect location.
Barstool has partnered with the Hollywood Casino, and it’s located right next to the Kansas Speedway. The handle at this location was over $6.5 million and that accounted for 80% of all of the retail wagers.
There are four retail sportsbooks in Kansas, and that number could actually increase as time moves on.
