The summer is over and the fall sports schedule is picking up. That means sports betting is back on people’s minds and unsurprisingly, operator handle and revenue are picking up as well.
To that end, the Kansas Lottery reported nearly a quarter billion dollars in wagers last month as revenue skyrocketed in the Sunflower State.
Kansas's six sportsbook operators combined for $248.8 million in bets for September, $100 million higher than the $147 million handle reported in August.
Unfortunately for Kansas bettors, their luck didn't hold month-over-month. August’s 7.2% hold rose to 13.6% (not including the promotional deductions operators use to lower their revenue).
And when bettors lose, the sportsbooks and legislators win. The net revenues came to $18.3 million, nearly three times higher than August’s $6.5 million. The tax bill to the state hit $1.8 million.
Sportsbook order sees little change
Kansas is one of the states where DraftKings leads the competition in legal sports betting handle and revenue. September reinforced that hierarchy as DraftKings and BetMGM recorded the highest monthly growth compared to the competition. Compared to August, BetMGM’s online action rose 85% and DraftKings' grew 76%.
On the retail side, ESPN BET saw more action ($6.2 million) than the other three sportsbooks combined ($2.8 million). Remarkably, ESPN's retail handle wasn't much lower than its online action. That spread will need to grow if the Penn Entertainment-owned sportsbook wants to compete in Kansas, which like most states sees the vast majority of its bets placed online.
| Operator | Sept. Online Handle | Net Revenue |
|---|---|---|
| DraftKings (Boot Hill) | $119.2 million | $9.3 million |
| FanDuel (Kansas Star) | $69.8 million | $5.4 million |
| BetMGM (KS Crossing) | $19.5 million | $1.9 million |
| Fanatics Sportsbook (KS Crossing) | $11.4 million | $51,000 |
| ESPN BET (Hollywood) | $10 million | $0 |
| Caesars Sportsbook (KS Crossing) | $9.6 million | $856,000 |
