Handle growth drives revenue up in Kansas
Starting in Kansas, total revenue from online and retail sports betting in August hit $6.6m (£5.0m/€5.9m). This is 37.5% ahead of August last year, but 28.3% less than in July.
Online betting drew $6.5m of all revenue in August, with retail’s share at just $123,489.
Spending-wise, total handle for August topped $147.0m. This is some 55.7% ahead of last year and 20.5% higher than July.
As for hold, total hold for the Kansas market in August was 4.5%. Online hold also hit 4.5%, with retail at 3.0%.
DraftKings remains the one to beat in Kansas
Looking to operators in Kansas, DraftKings continues to lead the online market. Partnered with Boot Hill Casino, DraftKings posted $3.0m in revenue off $67.7m in bets, a 4.4% hold.
FanDuel again placed second with $2.6m off $43.8m in handle via its partnership with Kansas Star, meaning a 5.9% hold. BetMGM and Kansas Crossing rounded off the top three with $522,062 from $10.6m, resulting in a 5.0% hold.
Retail-wise, FanDuel and Kansas Star took $115,190 off a $778,142 handle. DraftKings was the only other operator to post revenue, albeit only minimal. ESPNBet took the most bets ($2.7m) but posted zero revenue.
Tax-wise, Kansas collected $657,288 in total from sports betting. Almost all this – $644,939 – came from online wagering.
Connecticut betting handle tops $123.0m
Switching attention now to Connecticut, sports betting gross gaming revenue edged up 8.2% year-on-year to $10.6m. This, however, is 32.9% behind July’s total this year. Retail wagering added a further $875,821 in revenue.
As for handle, online spend hit $123.0m, up 34.7% from August 2023 and a slight rise from July’s $121.8m total. Players also wagered $11.1m at retail sportsbooks.
Total hold for the online market in August hit 8.6%, with retail at 7.9%.
FanDuel and partner Mohegan Sun maintained the lead in the online market. The partnership heralded $5.1m in gross revenue from $53.0m in bets, meaning a 9.6% hold. Fanatics and CT Lottery Corp led the retail sector with revenue of $846,837 off $5.7m, resulting in a 14.9% hold.
Looking to igaming in Connecticut, gross gaming revenue amounted to $37.9m. This is a rise of 51.6% from last year. This comes as players spent a total of $1.24bn in August.
DraftKings and partner Foxwoods drew the most revenue at $20.6m, off $679.1m in total bets.
Mixed results for Delaware in August
Finishing off in Delaware, sports betting revenue in August reached just $702,075. This is 125.6% more than last year but 34.7% less than July’s total.
In terms of handle, players spent a total of $10.3m betting on sports. Again, this is higher than last year by 329.2% – helped by the Delaware Lottery rolling out its new online sportsbook in January.
This means a total market hold of 6.8% for the month.
Delaware Park, which works with Rush Street Interactive and BetRivers, remains the clear market leader in Delaware. For August, it posted $413,697 in sports betting revenue off a $6.4m handle, suggesting a 6.5% hold.
As for igaming in Delaware, total revenue for August was $5.6m. This is 427.3% ahead of last year and 11.5% more than July this year. In total, players wagered $164.3m
Breaking this down, online video games generated a total of $3.7m from $89.7m in bets. Internet table games drew $2.0m in revenue off $74.6m.
As was the case with sports betting, Delaware Park also led in igaming with $3.1m of the monthly revenue total.
Original article: https://igamingbusiness.com/sports-betting/kansas-connecticut-delaware-sports-betting-august/
