Kentucky Sports Betting Market Reaches $2.39bn in First Year
In its first year of regulated sports betting, Kentucky saw $2.39 billion in wagers, according to the Kentucky Horse Racing Commission (KHRC). The state’s sports betting market, which launched in September 2023, made $272 million in adjusted gross revenue.
Online vs. Retail Betting
Online betting was the clear winner in Kentucky, with $2.3 billion in bets online, generating $264.3 million in adjusted gross revenue.
Retail sportsbooks saw $87.1 million in bets, producing $7.8 million in adjusted gross revenue.
After player winnings and federal excise tax, Kentucky collected $37.7 million from online sports betting and $756,517 from retail.
Market Leaders and Key Players
Flutter Entertainment-owned FanDuel led the online sports betting sector, followed closely by DraftKings.
Other notable performers in the market include BetMGM, Bet365, and ESPN Bet.
On the retail side, Churchill Downs, in partnership with Kambi, emerged as the leading operator.
August Results and Monthly Trends
In August, the KHRC reported online sportsbooks in Kentucky took $151.4 million in bets, a 17.1% increase from the previous month. $147 million of that was online, $4.4 million was retail.
But despite the growth in handle, adjusted gross revenue for the month was $11.8 million, down 21.9% from $15.1 million in July.
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