Kansas has solidified itself as one of the hottest new sports betting markets in the country, smashing handle records for the third straight month in November. According to official data released this week, the total handle (amount wagered) hit $260.9 million last month, surpassing October’s record high of $249.7 million by 4.5%.
The November handle also represented a monumental 40% year-over-year increase compared to November 2021 when Kansas sports gamblers wagered $186.4 million. Fueled by surging interest in mobile and online wagering options, a whopping $251.7 million of last month’s handle came from digital platforms. Retail sportsbooks across the state accounted for the remaining $9.2 million.
While handle reached all-time highs once again, statewide revenue fell just short of the October benchmark. Sportsbooks won $8.9 million in November, a 38.2% decrease from the prior $14.4 million record. However, on a year-over-year basis, November 2022 revenue still increased 11.3% over the $8.0 million won in November 2021, highlighting the immense growth still occurring month-to-month.
Online sportsbooks drove the bulk of revenue as well, generating $8.2 million. Retail sportsbooks won $753,778 in November to account for the remainder. With the popularity of mobile betting continuing to accelerate, industry analysts expect the retail segment’s contributions to continue declining in both relative and absolute terms.
Boot Hill Casino/DraftKings Maintains Market Dominance
The partnership between Boot Hill Casino and DraftKings has emerged as the clear market leader since Kansas launched regulated sports betting earlier this year. Building on their enormous success, the duo led the way again last month by processing an incredible $109.6 million handle and winning $4.2 million in statewide revenue.
Hot on their heels, Kansas Star Casino and FanDuel secured their place as Kansas’ second most prolific operator. They handled over $80 million in November action, resulting in $2.8 million in total revenue. Although still significantly smaller than the top two, BetMGM also fared well in its debut Kansas month after launching its mobile app in partnership with Kansas Crossing Casino. BetMGM handled $24.1 million in November bets, earning $962 thousand in corresponding revenue.
On the retail side, Hollywood Casino Kansas Speedway ranked as the top revenue producer thanks to its on-site Barstool Sportsbook. $6.3 million was wagered at Barstool last month, resulting in $528 thousand in total win. Kansas Star and FanDuel took second place in retail with $1.7 million handle and $174,148 revenue. Kansas Crossing and Caesars rounded out the top three with $463 thousand handle and $51 thousand revenue.
All told, the State collected $892,968 in taxes on last month’s sports betting activity. The bulk came from online wagering, which contributed $817,590 in tax revenue. Retail chipped in an additional $75,378.
As 2023 approaches, Kansas appears poised to continue breaking every sports betting record in the books. Industry analysts expect the total handle could eventually reach up to $1.5 billion next year as the market further matures. Kansas has already proven itself one of the nation’s most bettor-friendly jurisdictions with incredibly competitive pricing, innovative engagement incentives like free-to-play jackpots, and new entrants like BetMGM just getting started. 2023 could be Kansas’ biggest year yet.
