Sports News

Kentucky sports handle hits $1.36bn in 6 months of legalization

A new report has revealed that Kentucky sports enthusiasts have spent 1.36 billion dollars on sports betting.

The Bluegrass State legalized online sports wagering only six months ago. The report states that the customers spent 1.30 billion dollars on online betting and 57.3 million dollars on retail sportsbooks.

In terms of revenue, the state’s regulated market generated 169.3 million dollars in six months alone. Online betting generated 163.8 million dollars, while retail betting generated 5.6 million dollars.

Some of the major sports betting sites USA are already operating in Kentucky. Thus, it is no wonder that players generated 1.35 billion dollars in winnings from sports betting alone. The winning amount resulted in 23.8 million dollars in state taxes.

Turfway Park and FanDuel are the two clear standouts in the Kentucky online betting market. The operators hit 62.8 million dollars in revenue from 478.6 million dollars in bets.

DraftKings, another prominent player in online sports betting, closely followed the two winners. Despite placing 499 million in bets, the operator generated 61.1 million dollars.

Seeing how fierce the competition is between DraftKings and FanDuel, the news generated a loud buzz in the market. According to the latest FanDuel review, the operator is closely competing with DraftKings, Caesars, and Red Mile in the Kentucky market.

Caesars and Red Mile have generated 8.9 million dollars in revenue from 81.6 million dollars in total wagers. When it comes to the retail market, Red Mile and Caesars have generated revenue of 3.2 million dollars from 19.3 million dollars in wagers.

In February alone, the state generated 210 million dollars in sports betting. Out of this, 198.6 million dollars were generated online and 9.8 million dollars in retail. The numbers are expected to surge more as time goes on.

Edna Boykin

Edna Boykin started her career as a financial news writer. And, she was withal active in stock trading. From the commencement of her vocation, she is passionate about online poker games. As she likes to play poker and roulette, she knows the casino industry exhaustively. She recently joined Times of Casino as a news writer. She regularly contributes in-depth breaking stories and news updates of the casino industry.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button