Kansas Sports Betting Sets Record Handle in October 2024
Kansas sports betting hit a new high in October 2024 with $275.9 million in wagers, up 10.5% from October 2023. That’s 11 straight months of $200 million+ in total bets, thanks to strong online and a full sports schedule.
Kansas Sports Betting: Online Dominance
Online sports betting was 94.5% of all bets in Kansas in October, way higher than the national average.
While the total handle was a record, operator revenue was way down. In October the hold – the percentage of total bets kept by the sportsbooks – was 4.7%, way below industry norms. That means bettors were winning at an unusually high rate, eating into operator profits.
Despite the record handle, operators made $12.97 million, down 49% from October 2023 and 62% from September 2024. The low hold was a big reason for this decline, a reminder of the volatility in sports betting.
Packed Sports Calendar
October is a sports betting bonanza, with big events across multiple leagues:
- NFL and NCAA Football: Both were in season, big time.
- MLB World Series: The end of baseball season meant more high stakes betting opportunities.
- NBA and NHL: The start of these seasons added more options and volume to the betting menu.
The Kansas City Chiefs, perennial Super Bowl contenders, keep local betting interest high. Their success and popularity in Kansas is a big reason for the state’s sports betting numbers.
Kansas sports betting is strong and the market is growing due to digital adoption and the Chiefs. But the revenue decline in October is a reminder of the challenges operators face when bettors win too big.
Next up the NFL playoffs and more NCAA Football. Operators will need to work on hold to stabilize revenue.
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