Kentucky Sports Betting Hits $301.7 Million Handle in November
Kentucky’s sports betting total wagers hit a record-breaking $301.7 million in November. This marks a 6.8% increase from the same time last year and the first time the state has surpassed $300 million in monthly handle since launching sports betting in September 2023.
A Strong Rebound After October Slump
After a rough October, where revenues dropped 61% year-over-year, November brought a much-needed boost. Adjusted revenue jumped by 75% compared to October, and the handle saw nearly a 10% increase.
One of the biggest factors driving November’s turnaround was the rise in the hold percentage—the share of bets sportsbooks keep as revenue—which climbed from 8% in October to 12.3% in November.
This gave online platforms a significant boost, while retail sportsbooks rebounded from a $78,000 loss in October to a $685,000 profit in November.
In total, sportsbooks generated $36.6 million in gross revenue for the month, pushing Kentucky’s year-to-date revenue over $260 million. The state collected $5 million in taxes from November’s betting activity, bringing total tax revenue for the year to $36 million.
Top Online Performers
Online sportsbooks continued to dominate the market, with several operators delivering standout performances:
- DraftKings led the pack with a record $112.4 million handle. The platform generated $15 million in gross revenue—up nearly $7 million from October—thanks to a strong 13.3% hold rate.
- FanDuel also had a huge month, topping $100 million in handle and joining DraftKings as the only two operators to cross $1 billion in total wagers in Kentucky. FanDuel earned $13.2 million in revenue, landing the second spot.
- bet365 comfortably held onto third place with $26.1 million in handle and $2.9 million in revenue, achieving an 11% hold rate.
- BetMGM posted over $15 million in handle and matched bet365’s 11% hold.
- Caesars Sportsbook handled $14.3 million in bets.
- Fanatics Sportsbook saw solid numbers, surpassing $10 million in handle and bringing in over $1 million in revenue.
Not every operator had a stellar month. ESPN BET fell short with less than $8 million in handle and a win rate under 8%. On the other hand, Circa Sports posted a 10.5% hold rate on $3.2 million in wagers, showing solid efficiency in its smaller handle.
Retail Sportsbooks Bounce Back
Kentucky’s retail sportsbooks also showed growth in November. Churchill Downs, working with Kambi, led the way with $3.6 million in handle.
Turfway Park followed with $2.7 million, while Red Mile saw $1.9 million in wagers.
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