Kansas Sees Rebound in Legal Sports Betting Wagers in January, Revenue Takes Steep Drop

January broke a string of three straight months with declining legal sports betting handle, as Kansas once again got back over the $200-million threshold.

Feb 14, 2023 • 08:57 ET • 2 min read
K.J. Adams Jr. Kansas Jayhawks college basketball
Photo By - USA TODAY Sports

The Kansas City Chiefs marched through the NFL playoffs in January, with legal sports betting operators taking it on the chin, and January may also be a preview for February’s Super Bowl-related betting results.

The Kansas Lottery announced yesterday that the state’s retail and online sports betting sites took in $206.1 million in wagers in January, a 12% monthly jump from the $181.9 million generated in December. 

While Kansas sports betting was more popular to start 2023, the sportsbooks did not reap much of the benefit, generating just $7.2 million in revenue — a steep decline (30.1%) from the previous month — for a brutal 3.49% hold rate.

Mobile operators, which generated 95.4% of the wagers, posted just over $7 million in revenue. That's good for a hold percentage of 3.58%, which is significantly lower than December's mobile win rate of 5.6%.

Retail sportsbooks? Did even worse: Kansas has four brick-and-mortar operators and the Kansas Star casino was the only one to make a profit, as the $9.4 million in handle, $145K in revenue, and 1.5% hold were massive drops from December's figures ($10.8 million handle, $788K revenue, 7.3% hold).

Not surprising that as sportsbooks saw a drop in profits... so too did the state coffers. January’s tax bill fell to $598,745, which is a 40% hit compared to December's payments to the state. 

Promos and operator popularity

DraftKings was the most popular sportsbook in the Sunflower State, with $78.2 million in wagers, followed closely by FanDuel ($64.6 million) and then a distant third was BetMGM ($25.1 million). 

The state’s other three operators — Barstool ($20.1 million), Caesars ($15.1 million), and PointsBet ($2.6 million) — brought up the bottom half.

For the sportsbooks willing to offer promos, there was a correlation between customer offerings and monthly handle on their websites.

In January, the order was identical: DraftKings led operators in promo deductions with $2.9 million... and PointsBet was at the bottom with $124,097 in deductions.

Pages related to this topic

Popular Content

Legal Canadian sports betting

Best Canadian betting sites Ontario sports betting
Covers 25 Years Logo Established in 1995,
Covers is the world
leader in sports
betting information.
Covers is verified safe by: Evalon Logo GPWA Logo GDPR Logo GeoTrust Logo Evalon Logo