Kansas Lottery has reported a 16.1% reduction in handle from June 2023 to July 2023 coupled with substantial revenue growth of 42.2%
The state conformed to the seasonal US sports betting trend, with disappointing July handle but significant revenue growth. Overall sports betting revenue (before federal excise tax and promotional deductions) rose 42.2% from $8.3 million in June to $11.8 million in July.
Retail sportsbooks took $2.2 million in wagers, with Barstool at the Hollywood Casino taking 77.3% of all retail wagers. This was a decline of 31.2% on June 2023, where $3.2 million was wagered and Barstool held 68.8% retail market share by bet volume. June revenue also declined by $0.1 million in a retail capacity, showing Kansas online sports betting as the significant revenue growth driver.
Despite a 16.6% decrease in handle from $95.0 million in June to $79.7 million in July, revenue before federal excise and promotional deductions from online sportsbooks grew 50.6% to $11.5 million from $7.9 million. This was owing to an overall increased hold, with the overall hold for July standing at an impressive 14.4% compared to a more normal June hold of 8.7%.
Tax delivered to the state was also up 70.8%, at $683k from $400k. Total tax contributions in FY22 were $5.9 million from Kansas sports betting.
DraftKings showed dominance in July’s market share figures. The handle breakdown for online sportsbooks in KS was as follows:
- DraftKings: $35.2 million (45.4% market share)
- FanDuel: $22.7 million (29% market share)
- BetMGM: $7.6 million (9.8% market share)
- Caesars: $7.6 million (9.8% market share)
- Barstool/Penn: $3.7 million (4.8% market share)
- PointsBet: $0.6 million (0.8% market share)
Six months ago, DraftKings held 39.8% market share, and FanDuel 37.7%. FanDuel’s market share has evidently dropped significantly in Kansas, with Caesar’s and DraftKings the two operators gaining most market share in the period.