Kansas Sports Betting Revenue: Insights and Trends Post Legalization

Since legalizing sports betting in 2022, Kansas has become a key state in the Midwest. The Kansas Racing and Gaming Commission reported an annual sports betting revenue of $386.89 million in 2022, followed by $404.36 million in 2023, reflecting a 4.5% year-over-year growth. 

In 2024, Kansas continued its upward trajectory. Between January and October, the KRGC reported a total handle of $2.78 billion, generating $192.89 million in gross gaming revenue (GGR) and $10.39 million in tax revenue.

The highest monthly handle was recorded in October 2024, with an impressive $793.80 million, which also resulted in the highest monthly revenue of $39.07 million. February 2024 recorded the lowest handle, at $140.10 million, reflecting the typical seasonal dip after the NFL playoffs and Super Bowl.

Kansas’s average hold rate for 2024 through October was 6.93%, with monthly hold percentages ranging from 4.17% in February to a peak of 11.02% in July. The state’s tax revenue contributions remained steady, with October 2024 bringing in the highest monthly tax revenue of $3.91 million.

The Kansas sports betting market has licensed six major sportsbooks, including DraftKings, BetMGM, FanDuel, Caesars, ESPN Bet, and Fanatics Sportsbook. These operators have expanded the market by offering diverse and competitive betting options, particularly through mobile platforms, which account for most bets in the state. 

• November 14, 2024: Kansas set a new record for its monthly sports betting handle in October, reaching $275.9 million—a 10.5% increase year-over-year.
• October 11, 2024: Kansas saw a surge in sports betting revenue in September, nearly tripling its August total to achieve $248.8 million in profits.
• September 23, 2024: Underdog Fantasy returned to Kansas with a restructured 'peer-to-peer' format. According to the Kansas Racing and Gaming Commission, the new model "aligns with the intent of Kansas law."
• September 18, 2024: Kansas university professors expressed concerns as Missouri residents prepare to vote on legalizing sports betting this November, citing potential cross-border impacts on Kansas' betting market.

Kansas’ sports wagering market has seen rapid growth since its launch on September 1, 2022, with significant increases in handle, revenue, and tax contributions.

2022 (Partial Year)

In its inaugural year, Kansas’ sports betting handle reached $718.8 million, generating $76.5 million in revenue with an impressive hold rate of 10.75%. Tax collections totaled $2.1 million. Despite only operating for a few months, these figures demonstrated the state’s strong market potential.

2023

Kansas experienced exponential growth in its first full year of operations, with the sports betting handle surging to $2.12 billion—a nearly 200% increase compared to 2022. Sports gambling revenue grew proportionally, reaching $182.4 million, although the hold rate dipped slightly to 8.83%, reflecting the growing competitiveness of the market. Tax revenue soared to $10 million, providing substantial contributions to state programs and reinforcing the economic impact of sports betting.

2024 (January–October)

Kansas maintained its momentum in 2024, with gains in sports betting handle, revenue, and tax contributions. Between January and October, the total handle reached $2.78 billion, surpassing 2023’s total. During this period, gross gaming revenue totaled $192.89 million, with an average hold rate of 6.93%, slightly lower than in previous years. Tax revenue contributions totaled $10.39 million, equaling 2023’s annual total within ten months.

The highest monthly handle was recorded in October 2024, at $793.80 million, and revenue peaked at $39.07 million. The lowest handle was recorded in February 2024, at $140.10 million, reflecting the seasonal dip following the Super Bowl.