Total market revenue in Kansas increased 13.0% to $10.4m (£8.2m/€9.6m). However, April was not so positive for DC, with revenue down 59.5% to $526,689 from last year.
Starting in Kansas, not only was revenue up year-on-year, it was also 46.5% ahead of $7.1m in March this year. Online betting accounted for $10.3m of all revenue, with retail’s share at just $79,989.
In terms of spending, total handle for Kansas in April hit $192.1m. This is 44.4% more than last year but behind March’s state-wide handle of $252.9m.
Players spent $185.9m betting online during the month, with a further $6.2m wagered at retail sportsbooks.
Total tax for the month reached $1.0m, with almost all of this coming from online betting.
DraftKings and Boot Hill out in front in Kansas
Taking a look at each operator, DraftKings and partner Boot Hill Casino continue to lead the online market. Revenue from the partnership hit $5.1m in April after players bet $84.3m.
FanDuel, partnered with Kansas Star, posted revenue $4.9m off $60.7m in bets. Caesars and Kansas Crossing was the only other partnership to post revenue, with this hitting $277,103 from a $6.6m handle.
Kansas Crossing also has online arrangements in place with BetMGM and Fanatics, but neither generated any revenue in April. The situation was similar for ESPN Bet and Hollywood, which took $14.0m in bets but did not report revenue.
In terms of the financial year to date, total sports betting revenue in Kansas amounted to $98.0m. This includes $93.5m from online wagering and $4.6m retail sportsbooks.
Spending-wise, players wagered $2.05bn, with $1.96bn bet online and $89.5m at land-based locations. As for tax, the state collected a total of $9.8m.
DC revenue down despite level handle
Turning attention to DC, revenue was down year-on-year and also fell 62.4% from $1.4m in March of this year.
As for handle, players wagered a total of $14.5m during April. This was level with the same month last year but 5.7% behind $15.7m in March 2024.
Analysing each operator’s performance, GambetDC led the way. Players spent $6.9m and, after taking off $6.5m in winnings, this suggests revenue of $394,224. This was despite the brand ceasing operations in mid-April after being taken over by FanDuel.
Incidentally, FanDuel reported $194,236 in revenue off $550,751 during its first few weeks of activity.
Elsewhere, Caesars, which led in March, ended up posting a $165,196 loss for April from a $6.9m handle. Meanwhile BetMGM generated $226,880 in revenue from $3.1m in total bets, while Grand Central posted $55,614 off $317,770.
Cloakbook made $2,800 in total revenue from an $18,090 handle, Sports & Social $11,071 off $47,541, and Grand Central H Street $2,554 from $30,966. The sportsbook at Ugly Mug made a loss of $614 from $447.
To find out more about FanDuel’s entrance into DC and the departure of Gambet, click here to read our US editor Jill R. Dorson’s expert analysis.
Original article: https://igamingbusiness.com/sports-betting/kansas-revenue-rises-dc-reports-decline/
