Kansas July Sports Betting Bucks Trend With Improved Handle
Kansas July Sports Betting Bucks Trend With Improved Handle
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The latest data reveals a surprising surge in sports betting activity in the state of Kansas with the handle closing July 2024 up 50% year-over-year.
As is the case in many legal sports betting states, July is often a challenging month for the industry in Kansas. With a sparse sports calendar, sportsbooks typically face a significant drop in betting volume and revenue during this period. However, the latest figures from the Kansas Lottery suggest that this year’s summer slump may not be as pronounced as in previous years.
According to the data, the Kansas sports betting market generated a total handle of $203.0 million in July 2024, up 53.1% from the same period in the previous year.
While the handle numbers were impressive, the revenue generated by Kansas sportsbooks during July was slightly more modest. The state’s sportsbooks reported a total revenue of $9.199 million, representing a 34.7% increase from the previous year. The overall hold rate for the month stood at 7.54%, the second-worst performance of the year so far.
The Kansas sports betting market is primarily driven by online platforms, with the state’s six online sportsbooks accounting for the vast majority of the handle and revenue. In July 2023, the online segment generated $118.8 million in wagers, while the four retail sportsbooks collected a total of $3.23 million.
Among the online sportsbooks operating in Kansas, DraftKings and FanDuel emerged as the clear leaders, each achieving eight-figure handles and seven-figure revenues. BetMGM also performed well, boasting the highest hold rate at 11.3% and generating $964,426 in revenue.
