Kentucky sports betting handle drops to $275m in October
The handle dropped 4.5 per cent year-on-year.
US.- The Kentucky Horse Racing Commission (KHRC) has reported that the state’s sportsbooks took a $275m handle in October, down 4.5 per cent compared to October 2023 but up 7.5 per cent compared to September of this year. Some $265.1m was bet online, while $9.8m was bet at retail locations.
Adjusted revenue of $20.5m was down 62.1 per cent year-on-year and 39.1 per cent month-over-month. FanDuel continued to lead in revenue with $9.8m from $92.3m in wagers. DraftKings reported $8.2m of revenue from $102.7m in bets. Kentucky received $3m in taxes, which compares to $7.6m in October 2023.
First year of sports betting in Kentucky
Players in Kentucky spent $2.39bn betting on sports in the state’s first year of regulation. Adjusted gross revenue reached $272m. The state’s regulated sports wagering market launched in September 2023.
Players bet $2.3bn online and $87.1m at retail sportsbooks. Online betting generated $264.3m in adjuster gross revenue and retail wagering $7.8m (after player winnings and federal excise tax). Kentucky collected $37.7m in tax from online sports wagering and $756,517 from retail betting.
