Kentucky Sports Betting Revenue Nearly Triples in September
In September 2024, Kentucky saw its second-highest month for sports betting revenue, totaling $45.6 million—a 287.6% increase compared to August.
Financial Performance of Kentucky’s Sports Betting Market in September
September proved to be a successful month for sportsbooks in Kentucky, with sports betting revenue soaring compared to August.
The total betting handle reached $255.863 million in September, a 69% increase from August’s $151.409 million.
Sports betting revenue for September amounted to $45.640 million, marking a substantial 287.6% jump from August’s $11.775 million. This was the second-highest monthly revenue on record, trailing only October 2023. The rise is attributed to the return of the NFL regular season and college football, which traditionally drive high betting interest.
Mobile betting dominated the handle, accounting for $246.571 million of September’s total.
DraftKings Maintains Market Dominance in Kentucky
DraftKings retained its market leadership, generating over $100 million in handle for the fourth time in 12 months. The operator’s revenue reached $13.5 million in September, marking its third-highest result in history, with a 13.5% hold.
FanDuel was the second-largest revenue generator, posting $12.8 million. The runner-up’s handle was $82.2 million, with a 15.6% hold.
Bet365 ranked third, generating a handle of $22.6 million, surpassing the $20 million mark for the second time. Bet365’s revenue was $2.1 million, achieving over $2 million for the third time, with a 9.3% hold.
Caesars secured fourth place in revenue with $1.5 million, a handle of $11.2 million, and a 13.8% win rate. BetMGM followed with $1.4 million in revenue, a $12.6 million handle, and an 11.2% win rate.
Fanatics reported its best month in Kentucky, reaching $848,200 in revenue with a $9.7 million handle and an 8.8% hold. ESPN BET saw a slight uptick in handle to $6.7 million, achieving a high 12.5% hold and generating $831,900 in revenue.
Circa Sports recorded a handle of $1.5 million, but a low 2.8% hold limited its revenue to $43,000.
These figures indicate that Kentucky’s sports betting market is primarily led by a few major players, with DraftKings and FanDuel at the forefront. Nonetheless, smaller operators like Bet365, Caesars, and BetMGM also show strong performance.
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