Kansas Sports Betting Handle Hits $192 Million For April

The Kansas Lottery has reported sports betting handle of $192.1 million for the month of April, however the sports betting handle represents a 24% decline from the previous month’s figure of $252.9 million. But the decrease is not entirely unexpected with certain months typically seeing higher levels of activity than others. But, the April 2023 handle is a substantial 44% increase compared to the same period in the previous year.

The April sports betting data reveals a clear dominance of online wagering, with online bets totalling $185.9 million, or approximately 97% of the total handle. In contrast, retail bets accounted for a relatively smaller portion, reaching $6.2 million. This trend reflects the growing preference among Kansas bettors for the convenience and accessibility of online sports betting platforms.

Among the licensed sportsbook operators in Kansas, DraftKings, partnered with Boot Hill Casino, emerged as the market leader in net revenue, generating $5.1 million. FanDuel, another prominent player, reported $45.8K in retail revenue and $4.9 million in online revenue, finishing second behind DraftKings in terms of online settled wagers at $60.7 million.

However, not all operators experienced positive results in April. BetMGM, ESPN BET, and Fanatics did not generate any net revenue, as they held more money than they paid out. These operators utilized the state’s net carryover deduction to reduce their tax liability, a strategy that allowed them to maintain a presence in the market despite their financial challenges.

The overall sports betting revenue in Kansas for the 2024 financial year to date has reached an impressive $98 million, with the handle rising to $2.05 billion. Of this handle, $1.96 billion was wagered online, while $89.5 million was gambled at land-based locations. The state’s tax revenue from sports betting has also grown, standing at $9.8 million for the 2024 fiscal year.