Caesars and Fanatics-owned PointsBet both made moves in the Kansas sports betting market last month.
Caesars nearly tied with BetMGM in October handle share, as the gap between third-place and fourth place has been closing for months.
PointsBet, meanwhile, saw handle jump more than four times what it took in September, thanks to an advertising push and improved promotions from new owner Fanatics.
All six Kansas sports betting operators combined took a record $249.7 million in handle, setting a new high a month after it was broken in September. That is up 31.5% over last October.
Kansas sports betting gap closing
Caesars has flirted with taking the third-most handle share in recent months.
| 2023 | BetMGM | Caesars |
|---|---|---|
| October | 8.62% | 8.57% |
| September | 10.6% | 9% |
| August | 8.8% | 8.1% |
| July | 9.82% | 9.76% |
| June | 11.7% | 10.5% |
The Kansas sports betting handle gap was not always this close between the two, though.
When the market launched in September 2022, BetMGM took in 18% of monthly handle. It was good for third behind DraftKings and FanDuel. Caesars, meanwhile, had less than a 4% share that month, outpacing only PointsBet in the market.
Product improvements providing boost?
In its most recent quarterly earnings call, Caesars Digital CFO Eric Hession said the product is comparable to market leaders FanDuel and DraftKings, but not quite there on some features.
Caesars maintained a consistent market share in Kansas, and increased its handle share elsewhere, as those enhancements rolled out this year.
What drove PointsBet uptick?
PointsBet experienced a substantial increase in October handle, accepting its highest KS sports betting total ever at $8.7 million.
The previous high for PointsBet was $2.9 million in December 2022. The app rebranded to “PointsBet, a Fanatics experience” in Kansas and seven other states in the last few months.
Kevin Hennessy, VP of communications for Fanatics Sportsbook, pointed to the rebrand and its recent merchandise promotion as a reason for the increased handle.
“We have committed some new advertising, but our Jersey Drop promotion has been very successful in bringing in new customers,” he said.
DraftKings, FanDuel top Kansas sports betting leaderboard
DraftKings continued to wear the online crown in October, taking in $114.3 million in bets. October produced DraftKings’ highest handle total since Kansas’ launch.
Kansas bettors staked $67.4 million through the FanDuel app last month.
Promotional spending across the market totaled $9.7 million. Promos and other deductions, brought taxable October revenue for Kansas sportsbooks down to $14.4 million.
Operators owed $1.4 million in taxes, the most sent to the state in a single month.
