Kentucky Sportsbooks Enjoy Double-Digit Holds in First Two Months of 2024 

Online sports betting remained a significant driver of wagering in the Bluegrass State, contributing $444.7 million to the two-month handle.

Brad Senkiw - News Editorat Covers.com
Brad Senkiw • News Editor
Apr 16, 2024 • 17:39 ET • 4 min read
Reed Sheppard D.J. Wagner Kentucky Wildcats NCAAB
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Kentucky’s online and retail sports betting operators produced a combined handle of $465.5 million and nearly $60 million in profits for the first two months of 2024.

The Kentucky Horse Racing Commission reported a January handle of $257.1 million, down 2.6% from December 2023, but a 14.9% hold led to $38.2 million in adjusted gross revenue.

February generated 19.% less with a handle of $208.4 million while another double-digit hold of 10.3% produced $21.5 million in monthly revenue. 

The Bluegrass State filled its coffers with more than $5 million in the two months combined.

Post-launch progress

Online sports betting continued to drive wagering in Kentucky, accounting for $444.7 million of the two-month handle and $1.3 billion of the total handle since sports betting launched in late Sept. 2023. 

The Bluegrass State’s overall tax haul has reached $23.9 million from sixth-month revenue of $169.3 million.  

DraftKings leads online operators  

Operator January Handle Revenue
DraftKings $92.5 million $13.6 million
FanDuel $85.1 million $15.3 million
Caesars $21.8 million $2.8 million
ESPN BET $15.8 million $1.06 million
Operator February Handle Revenue
DraftKings $78.85 million $8.3 million
FanDuel $66 million $7.7 million
Caesars $17 million $2.1 million
bet365 $13.2 million $965,203

DraftKings has asserted itself as the top operator for online sports betting in Kentucky, but not by much. It generated a January handle of $92.5 million in January, down 6% month-over-month, and revenue totaling $21.9 million for the two months.  

FanDuel wasn’t far behind in January with an $85.1 million handle, but the gap widened in February as DraftKings brought in nearly $13 million more in handle. However, FanDuel generated more profits, thanks to an 18% hold in January that equaled $15.3 million in revenue.  

Caesars finished third in handle for both months while ESPN BET took fourth in January with $15.8 million in the amount wagered. However, bet365 answered in February, eclipsing ESPN BET with a handle of $13.2 million. 

Retail up & changes to regulation 

The handle for brick-and-mortar sportsbooks accounted for $11 million in January and another $9.8 million in February, both up from the $8.6 million wagered at retail shops in Dec. 2023.

Beginning this summer, sports betting in the Bluegrass State will become regulated by the Kentucky Horse Racing and Gaming Commission, a corporation assigned by the General Assembly after it overrode a governor’s veto late last week.  

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