December proved to be another challenging month for Kansas sportsbooks. And its not a great way to end the year. The Kansas Lottery recently reported gross revenue of $15.2 million from retail and online sportsbooks. This represents a decline of more than 50% year-over-year and 56% month-over-month. Adjusted revenue totaled $8.8 million, reflecting a 56% drop from December 2023.
The hold on a $261.3-million handle was just 5.85. This was the third lowest of 2024, behind only February and October. February traditionally poses difficulties for sportsbooks due to the Super Bowl, while October 2024 was one of the most customer-friendly NFL months sportsbooks have ever experienced. You can track the trends in your sportsbook with the help of a good pay per head sportsbook service.
In the latest sports betting news, the latest sports wagering report for Colorado is in, and it looks like betting activity is decreasing.
When it comes to sports betting, the handle depends on the sports calendar- so during months will less sports events, we can expect the betting handle to decrease. These betting resources can help you learn more about it.
This seems to be the case in Colorado, as the latest report from the Colorado Division of Gaming states that the handle has gone down from March. April’s total monthly sports betting handle is at $509.5 million, 14% lower than that of March’s handle.
Despite the month-on-month decrease in handle, the market is still performing well as April’s handle is 21.95% higher than that of April 2023. With a generous bump in handle from last year, the industry is still growing. If you want to check your sportsbook’s numbers, use a pay per head service to gain access to a good bookie management software. They will have features that will help you generate your sportsbook’s reports.
Casino and sports betting operator PENN completed its Barstool Sports acquisition. In exchange for $388 million, it acquired the remaining share in Barstool Sports. Also, it is the second phase of its acquisition of the brand. Initially, PENN acquired a 36 percent stake in Barstool Sports in February 2020.
PENN CEO and president Jay Snowden said Barstool is a reputable sports media brand with a loyal audience. Thus, it provides the gambling company with a marketing funnel for new customer acquisition. Also, the company can use the brand for cross-selling opportunities across its interactive division.
Snowden said theScore's reach could propel the brand and the parent company's integrated gaming and media business to new heights. According to casino reviews and news sites, PENN would use its proprietary technology to enhance Barstool's product offering.
Norway wants to introduce DNS blocking to ban offshore gambling platforms from offering their services to local customers. Lawmakers have discussed the measure for more than a decade. Thus, the pipe dream could turn into reality soon.
The minister of culture, Anette Trettebergstuen, supports the proposed measure. Also, she hopes to ban offshore betting sites from 2024. Previous ministers of culture rejected the proposal. However, Trettebergstuen believes it can make it difficult for offshore companies to reach local players.
Norsk Tipping, Norway's gambling website, is supposed to be protected by blocking the DNS of offshore gambling sites. It has the monopoly of the market in the country. Also, lawmakers will introduce the new measure this fall. Once approved, it will be implemented on January 1, 2024.
In April, the Louisiana sports betting handle declined despite hosting the NCAA Final Four games. According to basketball betting reports, sportsbooks got $208.3 million in wagering.
The April handle was a 10.5 percent decrease from March's $232.7 million handle. Also, it was a 12.6 percent decrease from the 238.4 million in February. Retail sports betting launched in the state in November 2021. Online sportsbooks launched in January 2022.
New Orleans facilitated the Final Four at the Caesars Superdome toward the start of the month.
In April, Chairman Ronnie Johns of the LGCB told sports betting bookie software experts that new players made 10,500 geolocation hits in New Orleans during the end of the week.
While it seems it forestalled as steep of a handle drop as found in different states from March to April, it didn't support Louisiana market development.
Louisiana Sports Betting Handle Declined in April
Louisiana sportsbooks held only 2.9 percent for $6.1 million in gross income. That income is wealthy the $30.1 million, or 13% hold, the sportsbooks accomplished in March.
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