Kansas Sees Year-on-Year Increase in Online Sports Betting Revenues
Online sports betting revenues in Kansas experienced a rise in May, increasing by 9.9% year-on-year to reach $9.6 million. This growth marks an improvement from the $8.7 million recorded in May 2023.
Surge in Betting Wagers
The rise in revenue can be attributed to a substantial increase in sports betting wagers. In May, the total handle amounted to $164.1 million, representing a 42% year-on-year increase from $115.6 million in the previous year.
As a result of the increased betting activity, Kansas’ state share in tax collections also saw a rise. The state collected $961,175 in taxes from sports betting in May, up from $874,385 in the same period last year.
Month-on-Month Comparisons
Despite the year-on-year growth, month-on-month comparisons with April showed a decline across all key metrics. Revenue and tax collections decreased by 6.9%, while the total handle fell by 11.7%.
Retail sports betting also contributed to the overall handle and revenue in Kansas. In May, retail sports betting generated $8.1 million in handle, $155,888 in revenue, and $15,589 in tax collections.
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