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 first true summer downturn month for Bluegrass gamblers as the NBA and NHL wrapped up their and MLB presented most of major betting events.
Gross profits fell 27% month-over-month to $15.8 million while the 10.5% hold, seventh most affordable all-time, dropped nearly 1.5 points from May.
Adjusted revenue of $15.4 million in June led to $2.2 million in taxes paid to the Commonwealth.
Impressive first half
Despite the lower figures in June, the quantity bet in Kentucky all-time surpassed $2 billion while operators have transported in more than $250 countless earnings and filled Kentucky's coffers with $35.3 million in tax profits.
Kentucky sports betting has actually also generated a deal with of $1.2 billion and earnings of more than $143.9 million in the first 6 months of 2024. Operators have actually enjoyed an 11.6% hold year-to-date.
Battle of the bigs
Online sports betting accounted for $145.7 countless Kentucky's overall handle in June.
DraftKings generated the highest quantity of betting in the Commonwealth with a $56.6 million manage. The online operator's hold fell simply shy of double digits, permitting FanDuel to rake in the most earnings in June on a $47.3 million manage.
FanDuel had a win rate above 14% for the third successive month and posted the state's finest hold.
June was a strong month for bet365, which caught 3rd location in online deal with and was the only other sportsbook to reach $1.2 million in revenue. Caesars got to $9.1 million in wagers while BetMGM wasn't far behind with an $8.2 million manage while also taking pleasure in a 9.3% hold.
ESPN BET had the second-highest win rate for June at 10%, however the PENN Entertainment-owned sportsbook summoned just the sixth-best deal with and made half of BetMGM's total profits.
Fanatics wasn't far behind with a handle of $4 million, and Circa produced a 13% hang on a deal with of $805,833 in its very first complete month since launching in Kentucky in May.
Churchill Downs controls
Retail sports betting produced a deal with of $4.6 million in June, below May's $5.8 million. Brick-and-mortar shops integrated for an 11.3% hold.
Churchill Downs comprised much of Kentucky's quantity wagered, representing $2.3 million at its Kambi-operated sportsbook. Turfway Park completed second with a deal with of $821,930 while Red Mile generated $782,285 in bets.