Kentucky ended 2024 with an 11% year-over-year boost in sports wagering action.
The Kentucky Horse Racing and Gaming Corporation reported that $293 million was bet in December 2024, the second-highest handle behind November 2024's $301.7 million. This marked the 4th successive month with action going beyond $250 million.
However, the least expensive hold on gross earnings produced yet in the Bluegrass State caused only $20.2 million in profit, a 38% decline from December 2023 and down almost 45% month-over-month.
Similar to October, when Kentucky's online and retail operators produced a 7.7% hold, NFL favorites had terrific success in the last complete month of the routine season. Bettors cashed in, causing a 6.9% hang on gross earnings that was down five points from November.
The adjusted income of $19.5 million came on a 6.7% hold, also the lowest ever in Kentucky.
The Bluegrass State took $2.9 million in tax income, below the $5 million gotten in November.
Exceeding projections
Kentucky's first full year of sports betting produced $2.6 billion in wagers and $283.7 million in gross earnings from a 10.7% hold. Adjusted revenue reached $276.9 million behind a double-digit win rate.
When sports betting very first started in the Bluegrass State in 2023, officials forecasted $23 million in annual tax income. In 2024 alone, the state gathered $39.3 million. Kentucky has actually filled its coffers with nearly $55 million in 15 months of operation.
DraftKings nearly generates $1 billion
Legal online sports betting generated $285.5 million in wagers and $20.3 million in gross earnings during December.
DraftKings almost matched its record-setting November with a December manage of $111.7 million, down about $700,000 from the previous month. Gross revenue fell from $15 million to $8.7 million month-over-month.
The online sportsbook completed 2024 with the greatest deal with, less than $2 million shy of $1 billion in the quantity wagered for the year.
FanDuel generated a greater profit margin in December, receiving $9.1 countless gross income on a $95.4 million manage. FanDuel's 9.5% hold was the greatest among all eight online operators, and the online sportsbook finished second in yearly manage with $862 million in 2024.
No other sportsbook reached $1 million in revenue throughout December. bet365 completed third with a $23.9 million manage while BetMGM, Caesars, and Fanatics Sportsbook all reached $13 million.
Circa Sports lost over $800,000 on a manage of $6.8 million to end at a loss for 2024. On $6.7 million in wagers, ESPN BET generated a 3.2% hold in December however still profited $7.2 million for the year.
Retail falters once again
Brick-and-mortar sportsbooks took a nearly $52,000 loss on a $7.6 million manage in December. Adjusted revenue finished $70,000 in the red.
It's the 2nd time in 3 months that retail sports wagering operators took a loss. In October, 3 of the eight shops reported adjusted income numbers in the red.
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Kentucky's Sports Betting Handle Stays High, Revenue Drops In December
trenawhitty798 edited this page 2026-04-28 11:52:35 +02:00