Despite a first handle dip in its first three months of action in November, Kansas sports betting revenue hit its highest mark.
Kansas sportsbooks generated more than $12.2 million in November revenue, according to a recent report from the Kansas Lottery. That is a 6.5% hold on the $186.4 million in wagers during the month.
The handle is a 2% dip from October’s $189.9 million. Kansas sports betting launched Sept. 1, with sportsbooks taking $160.5 million in bets in the first month.
Revenue shoots upward in Kansas
The jump in revenue comes after Kansas legislators were at the center of a New York Times piece about sports betting lobbying efforts. Within the stories, the Times reported on the effects of promotional deductions on the potential state tax hauls.
In September, Kansas sportsbooks reported $1.3 million in revenue, while October’s tally hit $1.4 million. Adjusted to include negative carryover from previous months, Kansas sports betting revenue hit just more than $8 million.
November’s jump in revenue helped boost Kansas’s take as the state collected $795,784 in taxes during the month. That is significantly more than the $270,706 in combined taxes from September and October.
Kansas sportsbooks pulling back deductions
In November, online sportsbooks in Kansas deducted $6.5 million in promo offers. Three sportsbooks spent more than $1 million in promos, led by DraftKings deducting $2.2 million.
FanDuel reported $1.9 million in promos, while BetMGM hit $1.7 million. The other three Kansas operators spent less than $300,000.
Through the first three months, however, the sportsbooks have shelled out $49.9 million in promos, led by DraftKings and its $22.3 million. FanDuel reported $12.5 million, while BetMGM is next at $11.5 million.
Online sports betting dominant in Kansas
Kansans wagered more than $177 million online during November, or 95% of the overall handle.
DraftKings took the most bets during the month, recording $76.2 million. FanDuel handled $50.6 million in November, while BetMGM took $25.4 million in wagers.
DraftKings leads the way through the first three months, taking $233.9 million in wagers. FanDuel is second since launch with $137.3 million, while BetMGM is a distant third taking $76.4 million.
FanDuel leads Kansas sports betting revenue
Despite taking $25 million less in wagers than DraftKings in November, FanDuel reported the most net revenue during the month, $4.9 million. DraftKings turned in $4.6 million.
It was the first positive revenue month for DraftKings and FanDuel, even adjusted with carryover losses. The adjusted revenues were $1.2 million for DraftKings and $4.8 million for FanDuel.
Retail sportsbooks take record
The in-person sportsbooks in the state did take $9.3 million in wagers, the highest retail total since launch.
Barstool Sportsbook at Hollywood Casino took $7.1 million of that total, or 76.3% of the overall retail wagers. FanDuel Sportsbook at Kansas Star Casino took $2 million, with DraftKings Sportsbook at Boot Hill Casino taking $214,202.
Since launch, Kansas retail sportsbooks have taken $22.9 million, with Barstool leading the way with nearly $18 million in retail wagers.
