Kansas Lottery has reported overall handle of $98 million for the month of June. Net revenue across both retail and online was just shy of $4.2 million.
It’s an alarming handle figure, and down over 50% since March’s peak of $206.3 million. Although this is broadly consistent with handle trends across the United States given the country’s propensity to gamble exclusively on the big American sports, it’s still a huge drop.
Revenue dropped 53% month-over-month as operators hold decreased to just 4.2% in June.
As is trend for the course, 96.7% of bets for June were taken online for Kansas sports betting. Retail took just $3.2m in wagers, with Barstool’s sportsbook at Hollywood Casino taking 71% of June’s wagers. This was followed by FanDuel’s book at Kansas Star, with Caesar’s and DraftKings taking comparatively little in retail handle.
The picture online continues to be the battle between DraftKings and FanDuel. In seemingly vintage DraftKings fashion, the brand took 45% of all wagers but only reported revenue (post promotional dedductions and the like) of $1.3 million (32.5%). This is contrast to FanDuel who took 27.4% of handle with $26.3 million, but reported higher revenue than DraftKings, reporting 49.3% of the state’s total revenue for online wagering.
Jostling for third and fourth position are BetMGM and Caesar’s although due to promotional play during the player acquisition period, BetMGM online has yet to report net positive revenues.
Kansas competes in the casino landscape with several tribal casinos in Northeastern Oklahoma, but with legalized sports betting may also be feeling a benefit of being ‘legislatively ahead’ of Oklahoma sports betting and OK online casino.