Kansas Sports Betting: Year in Review
As we keep track of various betting markets in our Pay Per Head Blog, we take a look at the Kansas Sports Betting Market as they celebrate their first year in the industry. For those who vaguely remember, Kansas sportsbooks went live last September 1, 2022. Since then, sportsbooks in the state have a total handle of $1.5 billion. This gives the state $5.8 million in taxes.
The betting numbers that the sportsbooks are seeing is quite remarkable, considering that the state has no pro sports team. In fact, if you comb through gambling software news, you will find it rare to read that sports betting revenue taxes are being used to attract a pro sports team. Because Kansas uses majority of the tax revenue from wagering in a program to get a pro team to stay in the state.
If course, you do have Kansas college sports, which has a huge following in the state. Kansas State and the University of Kansas are both widely successful in their basketball campaigns the previous season. In addition, Kansas State’s football team finished second in their conference.
Kansas Sports Betting Moving Forward
Of course, those who use a PayPerHead software know how important it is to look at the betting trends. It helps you plan your sportsbook operation appropriately. It can also help you with marketing strategies, like offering promotions specific to events, and so on. For Kansas, we are seeing a huge jump in handle, which brings August’s numbers to $94.4 million. This is 18.4% higher than July’s $79.7 million.
Out of the total handle, $90.6 million come from online sportsbooks. Revenue, however, drops for the month to just $4.8 million. This is 29.4% lower than July’s $6.8 million. It is perfectly normal to see fluctuations in either the handle or revenue. In this case, there is nothing to worry about, especially since sportsbooks are still going to earn from betting this month.
With football season coming in, it will not be surprising to see more wagers come in, especially for college football. The NFL season starts Week 1 currently, and we have months of a full calendar of football to earn money from. Kansas numbers could easily increase as we head on to the busiest part of the year.