The latest monthly revenue report from the Kansas Lottery has revealed that the state’s licensed sports betting operators set all-time records across the board as they took in over $249.7 million in wagers during October.
According to the report, sports betting handle increased by 31.5% year-on-year and by 13.9% compared to the month of September. This was the highest recorded handle since Kansas sports betting launched in September 2022. So far this year, Kansans have wagered $1.6 billion while the all-time figure now sits at $2.3 billion.
Record Revenues and Taxes
Revenues for the month came to $25.4 million while adjusted gross revenue (AGR) set a new state record at $14.3 million. Of that figure, $13.1 million was generated by online sportsbooks while retail sportsbooks recorded $1.2 million in revenues. The year-to-date revenue figure for sports betting now stands at $63.4 million.
October saw the state collect $1.4 million in taxes, the highest total in a single month beating the previous record of $1.02 million recorded in December 2022. Since sports betting launched, the industry has now generated more than $9.2 million in taxes.
Online Sports Betting Market Share
Online sportsbooks accepted over $240.9 million representing 96.4% of all wagers throughout the month and another all-time record. Meanwhile retail sportsbooks took in just over $8.7 million.
DraftKings was the market leader with a handle of over $114.3 million representing 47.4% of all online wagers throughout the month.
| Operator | Casino Partner | Handle | Revenue |
|---|---|---|---|
| DraftKings | Boot Hill | $114,302,631 | $6,290,286 |
| FanDuel | Kansas Star | $67,429,289 | $4,778,299 |
| Barstool | Hollywood | $9,082,701 | $484,365 |
| BetMGM | Kansas Crossing | $20,776,501 | $1,592,410 |
| Caesars | Kansas Crossing | $20,649,456 | $0 |
| PointsBet | Kansas Crossing | $8,672,101 | $0 |
| Totals | $240,912,679 | $13,145,360 |
Year-to-Date Sports Handle, Revenues & Taxes in Kansas
| Period | Total Handle | Sportsbook Revenue | Win % | Adjusted Sportsbook Revenue | Adjusted Win % | State Taxes |
|---|---|---|---|---|---|---|
| Jan 2023 | $206,060,734 | $15,105,189 | 7.33% | $5,991,876 | 2.91% | $598,745 |
| Feb 2023 | $194,034,469 | -$845,377 | -0.44% | -$7,945,175 | -4.09% | $1,134 |
| Mar 2023 | $206,287,094 | $20,975,191 | 10.17% | $9,113,472 | 4.42% | $911,159 |
| Apr 2023 | $132,981,289 | $14,636,899 | 11.01% | $9,197,202 | 6.92% | $919,720 |
| May 2023 | $120,323,444 | $14,550,824 | 12.09% | $8,873,901 | 7.38% | $887,390 |
| Jun 2023 | $98,125,865 | $8,195,048 | 8.35% | $4,094,258 | 4.17% | $409,425 |
| Jul 2023 | $79,715,016 | $9,644,263 | 12.10% | $6,831,761 | 8.57% | $683,176 |
| Aug 2023 | $94,415,479 | $7,662,828 | 8.12% | $4,843,673 | 5.13% | $484,366 |
| Sep 2023 | $219,293,493 | $18,155,498 | 8.28% | $8,060,963 | 3.68% | $806,097 |
| Oct 2023 | $249,711,810 | $25,404,712 | 10.17% | $14,370,289 | 5.75% | $1,437,030 |
| Totals | $1,600,948,693 | $133,485,075 | 8.72% | $63,432,220 | 4.48% | $7,138,242 |
Ciaran has been working within the Gambling Industry as a deep analyst since 2019. His deep knowledge and understanding of all the gambling regulations, and processes makes him a true asset, and an always valuable point of view for Gambling Industry News, allowing us to cover every topics from a brand new perspective.