Tag: Retail sports betting

Taking a look at some of the latest monthly US state sports betting results, iGB analyses a year-on-year revenue increase in Kansas in April and a decline in Washington DC despite handle holding steady.

Total market revenue in Kansas increased 13.0% to $10.4m (£8.2m/€9.6m). However, April was not so positive for DC, with revenue down 59.5% to $526,689 from last year.

Starting in Kansas, not only was revenue up year-on-year, it was also 46.5% ahead of $7.1m in March this year. Online betting accounted for $10.3m of all revenue, with retail’s share at just $79,989.

In terms of spending, total handle for Kansas in April hit $192.1m. This is 44.4% more than last year but behind March’s state-wide handle of $252.9m.

Players spent $185.9m betting online during the month, with a further $6.2m wagered at retail sportsbooks.

Total tax for the month reached $1.0m, with almost all of this coming from online betting.

DraftKings and Boot Hill out in front in Kansas

Taking a look at each op..

Sports betting handle in Iowa increased 21.4% year-on-year to $209.5m (£167.2m/€194.5m) in April, while the state also reported higher revenue for the month.

Player spending in April is comfortably clear of the $172.6m wagered in Iowa in the same month last year. However, the April total fell short of March’s total spend of $272.4m and also behind the $220.6m bet in February.

Of the total wagered in April, $196.6m was bet online and $12.9m via retail sportsbooks across Iowa.

An increase in player spending helped push revenue to $16.5m. This is 17.0% more than last year but a drop of 9.3% from $18.2m in March.

Online sports betting generated $15.7m in revenue during April, while retail drew $812,305.

Total player winnings for the month reached $192.3m, including $180.9m from online and $12.1m retail. As for tax, this amounted to $1.1m.

Who is winning in Iowa?

As has been the case for some time, FanDuel and partner Diamond Jo Dubuque remain out in front in Iowa. During April, the ..

Consumer sports wagering spend in Colorado increased 20.0% year-on-year to $593.1m (£475.7m/€556.8m) in March, while the state also reported a rise in revenue.

Handle was some way clear of the $494.4m bet during March last year. It was also 10.5% higher than the $537.0m wagered by Colorado players in February this year.

Online betting accounted for $589.3m of all sports bets placed during the month. A further $3.7m was wagered with retail sportsbooks across Colorado in March.

The hike in handle also led to higher revenue. For March, gross gaming revenue from sports in the state hit $45.0m. This is 27.1% ahead of $35.4m in March 2023 and 74.4% higher than February’s $25.8m haul.

Revenue from online betting amounted to $44.9m during the month, with retail’s share at just $165,764.

Basketball wagers hit $299.0m in March

Basketball was again the sport of choice among bettors in Colorado during March. In total, players spent $299.0m wagering on basketball, of which $297.2m was bet on..

Consumer spending on sports betting in Arizona amounted to $637.5m (£508.4m/€595.6m) in February, up 4.6% year-on-year, while gross revenue also hiked 55.9%.

Handle for February was some way clear of the $609.3m bet in the same month last year. However, it was 9.8% behind the $706.4m wagered in Arizona in January of this year.

Of the total spent during the month, $631.2m was bet online and $4.6m at retail sportsbook facilities across Arizona. An additional $1.6m was spent betting with limited event wagering (LEW) operators.

Turning to revenue, gross event wagering revenue for the month amounted to $53.0m. This was up from $34.0m in February 2023 but 23.5% short of January’s $69.3m record.

Online betting accounted for $52.7m of gross revenue, retail wagering $290,523 and LEW operators just $64,746.

Adjusted gross revenue tops $28.0m in February

In terms of adjusted figures for the month, these are reported after accounting for free bets and promotions.

Operators handed out $25.1..

Sports betting revenue in Rhode Island fell 22.5% year-on-year to $3.1m (£2.5m/€2.9m) in March despite players spending more money on wagering.

Total handle for the month stood at $44.9m, up 8.2% higher than $41.5m in March last year. It is also 15.7% ahead of the $38.8m bet in Rhode Island in February 2023.

Of this total, $37.0m was wagered online, while the remaining $7.8m was bet at land-based sportsbooks. Twin River processed $5.6m of all retail bets, with Tiverton Casino taking a total of $2.2m.

In terms of revenue, this was higher month-on-month, but only marginally. The March total was 6.9% higher than the $2.9m generated in Rhode Island in February this year.

As to where revenue came from, online betting accounted for $2.5m of the monthly total. In contrast, retail betting generated just $604,093 in monthly revenue.

Twin River posted $386,363 in retail sports betting revenue, while Tiverton Casino reported $217,730.

Players won a total of $41.8m from wagering on sports ..