June Produces Kentucky’s Slowest Sports Betting Month
The Kentucky Horse Racing and Gaming Commission reported that online and retail sportsbooks integrated to accept $150.3 countless wagers in June, down 17.1% from May. It was the very first real summertime slowdown month for Bluegrass wagerers as the NBA and NHL covered up their seasons and MLB presented the majority of significant betting events.
Gross earnings fell 27% month-over-month to $15.8 million while the 10.5% hold, seventh most affordable all-time, dropped almost 1.5 points from May.
Adjusted profits of $15.4 million in June led to $2.2 million in taxes paid to the Commonwealth.
Impressive very first half
Despite the lower figures in June, the quantity wagered in Kentucky all-time exceeded $2 billion while operators have actually taken more than $250 countless earnings and filled Kentucky's coffers with $35.3 million in tax income.
Kentucky sports wagering has likewise created a manage of $1.2 billion and revenue of more than $143.9 million in the first six months of 2024. Operators have actually delighted in an 11.6% hold year-to-date.
Battle of the bigs
Online sports betting accounted for $145.7 countless Kentucky's overall manage in June.
DraftKings created the highest quantity of betting in the Commonwealth with a $56.6 million manage. The online operator's hold fell just shy of double digits, allowing FanDuel to rake in the most earnings in June on a $47.3 million manage.
FanDuel had a win rate above 14% for the 3rd successive month and posted the state's best hold.
June was a strong month for bet365, which recorded 3rd location in online deal with and was the only other sportsbook to reach $1.2 million in . Caesars got to $9.1 million in wagers while BetMGM wasn't far behind with an $8.2 million manage while also enjoying a 9.3% hold.
ESPN BET had the second-highest win rate for June at 10%, but the PENN Entertainment-owned sportsbook mustered simply the sixth-best handle and made half of BetMGM's total revenue.
Fanatics wasn't far behind with a deal with of $4 million, and Circa produced a 13% hang on a manage of $805,833 in its first full month because launching in Kentucky in May.
Churchill Downs dominates
Retail sports wagering produced a handle of $4.6 million in June, below May's $5.8 million. Brick-and-mortar shops integrated for an 11.3% hold.
Churchill Downs made up much of Kentucky's quantity wagered, accounting for $2.3 million at its Kambi-operated sportsbook. Turfway Park ended up second with a manage of $821,930 while Red Mile created $782,285 in bets.