Kansas Continues Midwest Sports Betting Dominance
The Kansas sports betting numbers are in for the month of November and this market just continues to put up better numbers than were expected. Kansas is a state that still has a pretty small sports betting market, but it’s not small when looking at the numbers that are rolling in.
The Kansas sports betting handle for the month of November was $186.4 million, and it was the third straight month that the state was over $160 million. Total sports betting handle actually dipped from the October numbers, but they were still impressive for such a small market.
Gross revenue for the month of November was more than $19 million, but the state is still limited in the amount of revenue due to the promotional offers from sportsbooks. Those bonuses and promotions are going to tail off soon, and that will allow Kansas to bring in even more money.
Kansas sportsbooks had a profitable month in November as they were able to win over 10% of the wagers that were placed. The national average continues to be right around seven percent, and Kansas sportsbooks are performing much better than that.
DraftKings Setting the Tone
Every time that a new state launches sports betting, the biggest names in the industry are trying to take control. That has been the case in Kansas as well, and it’s the two biggest names in sports betting that have been on top.
DraftKings Sportsbook once again led the state of Kansas when it came to the total sports betting handle, and they have also been able to post the highest revenue in the state. FanDuel Sportsbook was second on the list in both categories, but that’s shocking based on what has happened in other states.
BetMGM has been in third place in both categories and Kansas is still a state without a ton of competition at this point. There are still sports betting licenses available, and those are going to be claimed in 2023.
Will Missouri Provide a Threat
The fact that the state of Kansas has gotten off to such a fast start is due to Missouri not yet legalizing online sports betting. Kansas and Missouri appeared to be in a battle to legalize the industry first, but it ended up being a one-state race in the final few days.
Missouri lawmakers are once again attempting to get this industry legalized and a number of bills have been prefiled for the 2023 legislative session. There is no guarantee that a bill will be passed as Missouri lawmakers have repeatedly fought back against the issue.
Kansas City shares both Missouri and Kansas and that is where most of the betting is being done. If Missouri were to launch sports betting at some point in 2023 then you would see a significant dip in the Kansas sports betting numbers.