Kentucky sports betting handle reaches new record in November
Players in Kentucky spent $301.7m on sports bets in the eleventh month of 2024.
US.- The Kentucky Horse Racing Commission (KHRC) has reported that the state’s sportsbooks took $301.7m handle in November, up 6.8 per cent compared to November 2023 and up nearly 10 per cent compared to October 2024 ($275m). It is the first time the state has surpassed $300m in monthly handle since launching sports betting in September 2023.
In total, sportsbooks generated $36.6m in gross revenue for the month, pushing Kentucky’s year-to-date revenue over $260m. The state collected $5m in taxes from November’s betting activity, bringing total tax revenue for the year to $36m.
DraftKings claimed the top spot among mobile operators reporting $15m in revenue from $112.4m in wagers. FanDuel followed with $13.2m in revenue from $100m in bets while bet365 held onto third place with $26.1m in handle and $2.9m in revenue. Kentucky’s retail sportsbooks also showed growth in November. Churchill Downs, working with Kambi, led the way with $3.6m in handle.
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.
Players bet $2.3bn online and $87.1m at retail sportsbooks. Online betting generated $264.3m in adjusted 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.
