The Kansas Lottery reported unprecedented success in the state’s sports betting industry, with operators setting all-time records for monthly revenue. In October, the operators recorded over $249.7 million in wagers, indicating a 31.5% increase from the previous year and a 13.9% increase from September.
Since the launch of sports betting in Kansas in September 2022, a total of $1.6 billion has been wagered, with an all-time figure of $2.3 billion. The month of October alone generated revenues of $25.4 million, setting a new state record for adjusted gross revenue (AGR) at $14.3 million. Online sportsbooks contributed significantly to this, generating $13.1 million in revenue, while retail sportsbooks recorded $1.2 million.
The success of the sports betting industry also translated to increased tax revenues for the state. October saw tax collections of $1.4 million, surpassing the previous record of $1.02 million set in December 2022. Since the launch of sports betting, the industry has contributed over $9.2 million in taxes.
Online sports betting dominated the market, accounting for 96.4% of all wagers in October. DraftKings emerged as the market leader, with a handle of over $114.3 million, representing 47.4% of all online wagers throughout the month.
The year-to-date figures for sports betting in Kansas are equally impressive, with a total handle of $1.6 billion and revenues of $63.4 million. These figures reflect the continued growth and success of the sports betting industry in the state.
Overall, the latest report highlights the significant economic impact and growth potential of sports betting in Kansas, with online platforms playing a major role in driving revenues and tax contributions. As the industry continues to thrive, it is poised to become an integral part of the state’s economy, generating substantial revenues and tax contributions for years to come.