• About Us / Contact
  • Responsible Gambling
This site contains commercial content
SportsHandle
  • US Sports Betting
    • Arizona
    • Arkansas
    • Colorado
    • Connecticut
    • Delaware
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Louisiana
    • Maine
    • Maryland
    • Massachusetts
    • Michigan
    • Mississippi
    • New Jersey
    • New Mexico
    • New York
    • Ohio
    • Oregon
    • Pennsylvania
    • Tennessee
    • Virginia
    • West Virginia
    • Wyoming
  • Pending States
    • California
    • Florida
    • Georgia
    • Missouri
    • North Carolina
  • Canada
    • Ontario
    • British Columbia
    • Alberta
  • Sportsbook Apps
    • FanDuel
    • BetMGM
    • Caesars
    • PointsBet
    • BetRivers
  • Tools
    • Sportsbook Bonuses Explained
    • Sports Betting Revenue Tracker
    • Sports Betting Podcasts
    • Partnership Tracker
    • Expected Value
    • Sports Scores And Odds Apps
    • Sports Betting Twitter
    • Guide To ‘Risk-Free’ Bets
  • News
No Result
View All Result
SportsHandle
  • US Sports Betting
    • Arizona
    • Arkansas
    • Colorado
    • Connecticut
    • Delaware
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Louisiana
    • Maine
    • Maryland
    • Massachusetts
    • Michigan
    • Mississippi
    • New Jersey
    • New Mexico
    • New York
    • Ohio
    • Oregon
    • Pennsylvania
    • Tennessee
    • Virginia
    • West Virginia
    • Wyoming
  • Pending States
    • California
    • Florida
    • Georgia
    • Missouri
    • North Carolina
  • Canada
    • Ontario
    • British Columbia
    • Alberta
  • Sportsbook Apps
    • FanDuel
    • BetMGM
    • Caesars
    • PointsBet
    • BetRivers
  • Tools
    • Sportsbook Bonuses Explained
    • Sports Betting Revenue Tracker
    • Sports Betting Podcasts
    • Partnership Tracker
    • Expected Value
    • Sports Scores And Odds Apps
    • Sports Betting Twitter
    • Guide To ‘Risk-Free’ Bets
  • News
No Result
View All Result
SportsHandle
No Result
View All Result

Kansas King Of Consistency In Sports Wagering Handle

In December, for the third month in a row, operators took in between $180 million and $190 million in handle

Chris Altruda by Chris Altruda
January 11, 2023
in Industry
Kansas scenic

Shutterstock

Share on FacebookShare on Twitter

The Kansas Lottery reported on Wednesday sports wagering handle of $182 million for December, the third consecutive month the Sunflower State finished between $180 million and $190 million.

The figure was a 2.3% dip compared to the $186.3 million in wagers accepted in November. Kansas finished the calendar year at $718.8 million in accepted wagers since launching in September, with more than 95% of that handle coming via online and mobile betting.

Bettors showed some improvement in the final month of the year, as the 9.3% win rate on gross revenue was the lowest of the four months. Operators reported $16.8 million in gross revenue, down 11.7% from November as the hold shed nearly one full percentage point.

The state was eligible to tax $10.3 million in adjusted revenue for the month, but when counting losses and carryover permitted to operators from previous months, that total shrunk to $9.6 million. Still, there was enough to post the first monthly $1 million tax bill as the overall total since launch nearly doubled to just shy of $2.1 million.

BetMGM surprise leader in promotional spend

December #SportsBetting 🧵for #Kansas via @Kansas_Lottery. Mobile Han/Rev/WR by operator (2/2)@CaesarsSports $9.58M/$817.6K/8.54%@PointsBetUSA $2.95M/$119.3K/4.05%@BetMGM $25.5M/$1.99M/7.82%

6/x #GamblingTwitter

— Chris Altruda (@AlTruda73) January 11, 2023

Overall promotional spend in December among the state’s six mobile operators ticked slightly higher to $6.8 million, and it was BetMGM that had the biggest outlay at more than $2.6 million. No other operator reached $2 million in promotional credits and bonuses, with FanDuel a distant second at $1.9 million. The strategy does appear to have provided some benefits for BetMGM, which was a strong third in handle at $25.5 million.

The aggressive play, though, also means BetMGM has been working with a negative net AGR from the jump and has yet to make a tax payment. Despite posting nearly $2 million in gross revenue for December, its adjusted revenue for the month was $675,000 in the red, pushing its overall total to minus-$2.7 million.

DraftKings led in handle and revenue in convincing fashion, with its 11.7% win rate leading to $7.6 million from $65.1 million handle. The Massachusetts-based book has cleared $7 million in gross revenue in each of the four months of action while posting a minimum hold of 9.2% each month.

FanDuel was brought down a peg by Sunflower State bettors, limited to a 7.9% hold that was nearly six percentage points lower compared to November and the sportsbook’s first in single digits. It did have an all-time high in handle at $54.3 million, leading to $4.3 million in gross revenue.

The stratification of handle by mobile operator has hardened significantly as Barstool Sportsbook, Caesars Sportsbook, and PointsBet ranked fourth through sixth, respectively, once more. Barstool is the only other book to reach eight figures in handle in Kansas, accepting a record $13.8 million in wagers, though Caesars again flirted with the mark by coming within $400,000 of $10 million for the second straight month.

Both had holds just over 8.5% for December as Barstool claimed $1.2 million in gross revenue and Caesars $820,000. PointsBet’s gross revenue of $120,000 was nearly matched by its promotional spend of $114,000, which, along with other deductions, resulted in an overall slight loss in adjusted revenue.

Hollywood Kansas continues to dominate retail

Runnning Top 10 #SportsBetting handles by state for December:

1 New York $1.63B

2 Maryland $497.1M
3 Iowa $229.9M
4 KANSAS ~$182M <-NEW
5 West Virginia ~$66M
6 OREGON $53.8M <-NEW
7 Delaware $8.2M
8 Montana $7.2M
9 TBD
10 TBD#GamblingTwitter

— Chris Altruda (@AlTruda73) January 11, 2023

Retail wagering at the three locations currently in action totaled $10.8 million handle, and the overwhelming majority of it originated at Hollywood Kansas. The Barstool-powered brick-and-mortar book accepted $8.5 million in bets for December — another month-over-month rise after barely more than half that in September — but finished with just $440,000 in revenue as its win rate plummeted more than six percentage points to 5.2%.

Kansas Star narrowly missed back-to-back months with $2 million handle, finishing about $40,000 short, but it was a much better month than November, with an 18.5% hold resulting in $360,000 in revenue. Boot Hill also had a double-digit hold at 10.1%, keeping more than $30,000 from close to $300,000 bet.

ShareTweetShare
Chris Altruda

Chris Altruda

Chris Altruda has been a sportswriter with ESPN, The Associated Press, and STATS over more than two decades. He recently expanded into covering sports betting and gambling around the Midwest. His Twitter handle is @AlTruda73 and can be reached via email at caltruda@bettercollective.com

Related Posts

(Matt Krohn/USA TODAY)
Sports

Raptors Midseason Review: Jurassic Park May Be Empty For Bettors In 2023 Playoffs

January 27, 2023
nbc skyline
Analysis

New York Poised For $2 Billion Sports Wagering Handle In January

January 27, 2023
Load More

Top Stories

patrick mahomes

Mahomes’ Ankle Speculation Twists Line Movement In Chiefs-Bengals Rematch

January 27, 2023
fanatics-grand-opening

Fanatics Sportsbook At FedEx Field Offers Unique Retail Option In Maryland

January 23, 2023
Shutterstock

Missouri Legislators Lament Exodus Of Bettors To Neighboring States

January 27, 2023
rob gronkowski adam vinatieri

Rob Gronkowski Goes Training Montage Route In Latest FanDuel Spot

January 17, 2023

State Sports Betting Guides

Ohio (U.S. state) flag waving against clear blue sky, close up, isolated with clipping path mask alpha channel transparency, perfect for film, news, composition

Ohio Sports Betting – Where To Play, Bonus Offers And Promo Codes

by Brian Pempus
January 25, 2023

Downtown Detroit at twilight (Shutterstock)

Michigan Sports Betting – Where To Play, Online Sportsbooks, And FAQ

by Brett Smiley
January 27, 2023

VA captial

Virginia Sports Betting – Where To Play, Online Sportsbooks And Bonus Offers

by Brett Smiley
January 17, 2023

nj flag

New Jersey Sports Betting — Where To Play, Online Sportsbooks, And FAQ

by Brett Smiley
October 20, 2022

pa online sportsbooks

Pennsylvania Sports Betting – Where To Play, Online Sportsbooks And Bonuses

by Brett Smiley
October 6, 2022

Canada Sports Betting Guides

Canada Sports Betting – Best Sportsbook Apps & Bonus Offers

British Columbia Sports Betting – Legal Update, Available Sportsbooks, and FAQ

Ontario Sports Betting – Legal Status And Where To Play

gambling therapy
ncpg
igaming ontario
If you or someone you know has a gambling problem, crisis counseling and referral services can be accessed by calling 1-800-GAMBLER (1-800-426-2537) (IL). Gambling problem? Call 1-800-GAMBLER (MI/NJ/OH/PA/WV), 1-800-9-WITH-IT (IN), 1-800-522-4700 (CO), 1-800-BETS OFF (IA), 1-888-532-3500 (VA) or call/text TN REDLINE 1-800-889-9789 (TN).
19+. Please play responsibly. Terms and conditions apply. 
Individuals must be 19 years of age or older to participate in igaming in Ontario. Gambling can be addictive, please play responsibly. If you, or someone you know, has a gambling problem in Ontario and wants help, please visit ConnexOntario or call their helpline at 1-866-531-2600. Operators on this website operate pursuant to an Operating Agreement with iGaming Ontario.

Search Sports Handle

No Result
View All Result
  • About Us / Contact
  • Responsible Gambling

No Result
View All Result
  • US Sports Betting
    • Arizona
    • Arkansas
    • Colorado
    • Connecticut
    • Delaware
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Louisiana
    • Maine
    • Maryland
    • Massachusetts
    • Michigan
    • Mississippi
    • New Jersey
    • New Mexico
    • New York
    • Ohio
    • Oregon
    • Pennsylvania
    • Tennessee
    • Virginia
    • West Virginia
    • Wyoming
  • Pending States
    • California
    • Florida
    • Georgia
    • Missouri
    • North Carolina
  • Canada
    • Ontario
    • British Columbia
    • Alberta
  • Sportsbook Apps
    • FanDuel
    • BetMGM
    • Caesars
    • PointsBet
    • BetRivers
  • Tools
    • Sportsbook Bonuses Explained
    • Sports Betting Revenue Tracker
    • Sports Betting Podcasts
    • Partnership Tracker
    • Expected Value
    • Sports Scores And Odds Apps
    • Sports Betting Twitter
    • Guide To ‘Risk-Free’ Bets
  • News

loading

Please wait while you are redirected to the right page...

Please share your location to continue.

Check our help guide for more info.

share your location