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.
Kansas Sportsbooks Report Drop in Revenue in December
December is typically a high-volume month, featuring NFL games, college football postseason, NBA action, and college basketball. It has also historically been favorable for Sunflower State sportsbooks. In December 2023, Kansas posted an 11.8% win rate, while December 2022 saw a 9.3% win rate. Your win rate can give you insight into making money at an online casino as well as it would with your sportsbook.
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Bettors wagered slightly more year-over-year, with the handle increasing by less than 1%. However, December's handle was down 10% compared to November. The state, meanwhile, collected $886,113 in tax revenue for December.
Year in Review
Kansas concluded its second full year of sports betting with a 2024 handle of $2.54 billion, a 21% increase from the $2.1 billion reported in 2023. Kansas sportsbook operators generated $216.7 million in gross revenue, an 18.8% improvement over the previous year.
Despite a lower edge in December, the 2024 hold of 8.6% matched the win rate from 2023. The state brought in $12.7 million in sports betting tax revenue for 2024. This surpasses the previous year's total by $600,000. We also saw an all-time monthly revenue high in September ($34.1 million), only to surpass it in November ($34.8 million). Incidentally, this also marked the highest handle ever recorded in the state at $291 million.
Online sports betting accounted for $252.8 million of December's total handle. Retail sports betting contributed $8.4 million to December's handle but paid out $137,980 more than it brought in. The state's four brick-and-mortar sportsbooks combined for $1 million in revenue in December 2023.
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