Kansas sports betting handle drops 9% in May as DraftKings and FanDuel tussle for market lead
DraftKings racks up biggest handle and revenue during month with online sportsbooks accounting for 96% of overall handle
Kansas total sports betting handle dropped 9.5% on a month-over-month (MoM) basis in May to $120.3m, according to the latest data released by the Kansas Lottery.
Releasing its revenue report for the month, the agency reported retail sports betting handle of just $4.7m, with the state’s four retail sportsbook operators generating revenue of $130,047.
This figure was down 29% in respect of handle on a MoM basis, with revenue enjoying a 7% uptick when measured against April.
Kansas’ six online sportsbooks racked up handle of $115.5m, a figure down 8% MoM, with revenue generated slumping by a more modest 3% to $8.7m in May.
Online sportsbooks now account for just over 96% of Kansas’ total sports betting revenue with the state collecting just $887,390 in tax revenue from both retail and online operators.
Drilling down into these figures, DraftKings and FanDuel continued their tussle for market leadership, as they have done in a number of US states over the year.
DraftKings won the battle in May, racking up handle of $47.9m in the month, generating $4.3m in revenue, ahead of its long-time rival FanDuel, which could only manage $35.3m in handle and $3.4m in revenue over the same period.
The duo were markedly ahead of BetMGM which generated handle of $13.1m in May, but in tandem generated no actual revenue from the Kansas market during the month.
Fellow Kansas Crossing sportsbook operator Caesars was just behind, with $11.3m in handle, but fared better in the revenue stakes, notching up $335,380 in revenue during May.
Barstool Sports racked up $6.5m in handle and $554,403 in revenue during May, ahead of PointsBet which recorded handle and revenue totals of $1.2m and $56,197 respectively during the month.
In respect of year-to-date (YTD) figures, Kansas generated an impressive total of $1.57bn in handle and $54.4m in revenue, with online sportsbooks once again making the biggest contribution, with $1.5bn of the total handle and $50.9m of the overall revenue.
DraftKings has processed $633.5m in wagers YTD, ahead of FanDuel with $462.3m in handle. In respect of revenue, FanDuel edged out its rival, racking up $23.4m in YTD revenue, just ahead of DraftKings with $21m.