Kansas sports betting operators enjoyed year-over-year growth in March, leading to more than $800,000 in tax funding for the state.
Total revenue hit $8 million, a 12.4% year-over-year increase against $7.1 million for March 2024.
Key takeaways
- Revenue increased despite a falling handle.
- DraftKings dominated the market and reported 69.6% more revenue than FanDuel.
- ESPN Bet led the retail betting market despite coming in fifth in total income.
Despite growth in operators’ bottom lines, total accepted wagers only reached $248.4 million. That’s 1.7% less than the $252.9 million a year ago. This was the second straight month where operators improved revenue but lowered year-over-year handle.
March's revenue total was also substantially lower than February's total, when the Kansas City Chiefs competed against the Philadelphia Eagles in Super Bowl LIX. Sportsbooks and casinos walked away with only 33.6% of the $23.9 million in profit they claimed in February.
However, overall handle increased 15% from $216 million in February. Credit for that likely belongs to March Madness, which played 64 of its 67 games before the end of the month.
The Masters, the fourth-most bet sports event of the year, followed by the NBA playoffs, and NHL playoffs, should dominate the upcoming legal sports betting calendar.
| Operator | March Handle | March Revenue |
| BetMGM | $19.9 million | $968,490 |
| Caesars | $10.6 million | $604,439 |
| DraftKings | $102 million | $3.9 million |
| Fanatics | $15 million | $31,430 |
| FanDuel | $86.5 million | $2.3 million |
| ESPN Bet | $14.4 million | $239,500 |
| Total | $248.4 million | $8 million |
Tracking operators’ performances
DraftKings had the strongest month of any operator, reaching $102 million in combined online and retail wagers and $3.9 million in income, a 22% year-over-year revenue decrease. It also had the largest tax bill of any sportsbook, $388,092.
FanDuel was second with $86.5 million in total handle and $2.3 million in revenue. It paid $230,553 in taxes and grew its income total 7% year-over-year.
Online-only BetMGM was third at $19.9 million in handle and $968,490 in profit. Fanatics came close behind with a $15 million handle and $31,430 in revenue, both dramatic increases over the $1.3 million and $0, respectively, it reported in 2024.
ESPN Bet uncharacteristically led the retail gaming market and generated $14.4 million in handle and $239,500 in income.
Caesars brought up the rear with $10.6 million in handle and $604,439 in revenue, a 15.2% handle decline, but a 135.1% revenue increase.
