Kansas Betting Revenue Soars Year-over-Year in February

February was a busy month for sports betting operators in Kansas. While licensed retail and online sports wagering suppliers in the state posted an increase in their revenue and betting handle year-over-year, the results from last month fell behind the figures posted a month earlier, in January, data released by the Kansas Lottery reveals.

In total, the combined retail and online sports betting spending in February halted at $203 million. This result marked a slight increase year-over-year when compared to the February 2023 result of $194 million. However, the spending on sports betting failed to reach the $239.6 million result reported for January this year.

Not unexpectedly, the revenue reported by the retail and online betting operators last month was a far cry when compared to January’s results. In January, the betting operators posted $14.3 million in revenue, a result that plummeted to $3.1 million last month.

Online Betting Takes the Lion’s Share of Revenue and Wagers

A breakdown of the total betting handle reported in February reveals that online wagering was responsible for the majority of the wagers. This comes as no surprise considering the popularity of online/mobile betting across the country. Last month, online betting operators posted $193.9 million in betting handle. On the other hand, the retail wagering sector saw $9.2 million in betting handle for the same period.

The $193.9 million betting handle reported by licensed online operators in Kansas translated to $3,049,912 in revenue. Both results marked a decrease when compared to January when the betting handle for online operators skyrocketed to $228.1 million while revenue was $13.7 million.

However, year-over-year, the betting handle increased by nearly $10 million, while the revenues soared from the $35,916 result from February 2023.

Considering the $3 million in revenue posted by online operators last month, the state’s share was $304,991. The collected tax was a far cry from the whopping $1,366,463 collected in January.

Similarly, the retail handle of $9.2 million from February was below the $11.5 million result from January. Revenue posted by retail betting operators in Kansas last month was only $5,025, bringing in $503 for the state. In contrast, at the start of the year, in January, licensed retail betting operators posted $668,086 in revenue while the state collected $66,809.

DraftKings Posts Highest Handle, Revenue for February

Three online betting operators posted revenue last month. DraftKings, in collaboration with Boot Hill, posted $87.7 million, the highest betting handle for February. The result translated to nearly $2 million in revenue.

The second-highest betting handle was reported by FanDuel and Kansas Star, with a total of $58.5 million. Considering the betting handle, the duo posted $885,938 in revenue last month.

The third operator that reported revenue in February was Caesars together with Kansas Crossing. The duo reported $11.2 million in betting handle, a result that brought $198,496 in revenue.