Kansas sees sports betting handle up 4% in November, surpassing the quarter billion mark

Last month, the Kansas Lottery reported a betting handle of $260.9 million for the state's sports wagering industry, marking a 4% increase compared to October's $249.7 million. However, despite this growth in betting activity, net revenue decreased from $14.3 million to $8.9 million.

Kansas Sportsbook paid out $242.9 million in winnings, leaving them with a 6.9% profit margin, down from October's 10.2% and September's 8.3%. Additionally, the increase in promotional dollars offered by operators contributed to a reduction in the final tax revenue.

Retail sports betting also saw an increase, with the state's four sportsbook totaling $9.2 million in November, up from October's $8.8 million. Hollywood Casino led the pack with 68% of the statewide total, slightly down from October's 71%.

In the online sports betting vertical, ESPN BET, taking over Barstool's brand in Kansas, recorded a rise in wagers from $9 million in October to $21 million in November. This increase was boosted by a jump in promotional spending, which rose from $100,000 in October to $6.3 million in November, exceeding the combined spend of DraftKings ($3.6 million) and FanDuel ($2.2 million).

DraftKings maintained its lead among Kansas sports betting apps with $109.5 million in wagers, while FanDuel came in second with $80.1 million. BetMGM recorded $24.1 million, followed by ESPN BET with $21.5 million and Caesars with $12.7 million. 

Although PointsBet experienced a considerable decrease in betting activity, this was anticipated following its handle's substantial increase of over 300% in October. The brand's betting volume in November was $3.6 million, a decline from October's $8.6 million, yet it remained nearly twice as high as the $1.9 million handle recorded in September.