Kansas sports betting witnessed year-on-year growth in February, with consumer spending across online and retail surging by 4.6% to $203 million. This was accompanied by a more than 8,405% increase in revenue within the state.
The total handle in February was above last year’s $194.0 million. However, it marked a 15.3% decline from January’s figure of $239.6 million. Of the total handle, online sportsbooks accounted for $193.9 million, while retail facilities saw $9.1 million in wagers.
Revenue for February stood at $3.1 million, a substantial leap from $35,916 generated in the previous year, but a 48.3% decrease from January’s $6.0 million. The bulk of revenue, $3.0 million, stemmed from online betting, with retail sportsbooks contributing a modest $5,025. Kansas also collected $305,494 in taxes during the month.
Among individual operators, DraftKings and Boot Hill Casino emerged as the frontrunners in the online market for February, raking in $2.0 million in revenue from a total of $87.7 million in wagers. FanDuel and Kansas Star, January’s leaders, slipped to second place with $885,938 from $58.5 million wagered. Caesar’s and Kansas Crossing was the only other partnership to generate revenue at $198,496.
On the retail front, DraftKings and Boot Hill led the pack, albeit with a modest $5,025 in revenue from $612,308 in total wagers.
Examining the year-to-date performance, total spending in the fiscal year reached $1.61 billion, comprising $1.53 billion from online betting and $73.6 million from retail facilities. Revenue for the period amounted to $80.5 million, with online betting contributing $76.0 million and retail $4.5 million. The total tax collected during this period reached $8.0 million.
Original article: https://www.yogonet.com/international/noticias/2024/03/18/71309-kansas-sports-betting-sees-46-handle-surge-in-february-massive-revenue-hike
