The Sunflower State couldn’t keep its momentum from the end of 2023 to the first month of 2024.
The Kansas Lottery reported a January handle of $239.6 million, a 7.7% month-over-month drop, and adjusted revenue of $14.3 million, a decrease of 28.5% from December.
With college football’s bowl season and NFL regular season wrapping up, the NFL playoffs, NBA, college basketball, and NHL didn't hit as hard with Kansas bettors.
However, the January handle was up 16.2% year-over-year while revenue was nearly double from the same month in 2023, and the Sunflower State surpassed $3 billion in wagers since the start of sports betting in Sept. 2022.
Kansas operators paid out $1.4 million in taxes in January, down considerably from the $2 million from Dec. 2023.
The monthly handle could improve in February coming off Super Bowl LVIII, but revenue will likely take a major hit with the Kansas City Chiefs winning it all.
DraftKings records top online handle
Online sports betting made up 95% of the Sunflower State’s overall handle and enjoyed a 9.1% hold in January.
DraftKings led Kansas’ six mobile operators with a handle of $96.8 million while FanDuel was second at $77.3 million, but FanDuel’s 11.4% hold was tops in the state.
ESPN BET, which handed out 76% fewer promotional credits than the previous month, gave BetMGM a real run for third. BetMGM accepted $21.2 million in wagers while ESPN BET generated a $20.3 million handle but posted a win rate of 2.2%.
Caesars placed fifth and produced $10.6 million in wagers to finish ahead of Fanatics’ handle of $1.9 million.
Poor hold dooms retail sportsbooks
Retail sports betting made little impact on revenue in Kansas, despite an $11.5 million handle that was up a million dollars from December. A 1.1% hold led to just $121,000 in profits at brick-and-mortar shops.
Nearly $9 million of the retail wagers were placed at Hollywood Casino while Kansas Star Casino was the only other sportsbook to record reach $1 million in handle.
