Kentucky's October Sports Betting Revenue Falls 61% Year-Over-Year

This October was not like Kentucky's first full month of sports betting in 2015.


The Kentucky Horse Racing Commission reported $18.8 million in gross income, down 61.3% from October 2023. The current handle of $274.9 million was also a 4.5% decline year-over-year.


Bluegrass State operators turned an 18.6% hold in in 2015's very first big month, however that win rate dropped to 7.7% this year, thanks to more customer-friendly outcomes from NFL favorites covering at a high rate at times in October.


Adjusted earnings of $20.5 million was down 62.1% year-over-year and 39.1% while October's handle increased 7.5% from September.


Retail sportsbooks reported a $78,000 loss for the month on a $9.8 million handle while online sports betting operators recorded a decent 8% hold on a $265.1 million handle.


The Bluegrass State filled its coffers with nearly $3 million, a far cry from the $7.6 million in tax earnings gotten in October 2023.


DraftKings reaches $1 billion


DraftKings became the first online operator to accept $1 billion bet in Kentucky. The sportsbook has actually accepted $1.1 billion in bets after creating a $102.7 million handle in October.


It's the fourth time since September 2023 that DraftKings has tape-recorded a handle of more than $100 million, and nearly $775 million has come year-to-date. FanDuel will be the next operator to reach that mark as the online sportsbook has actually produced a $994 million manage in Kentucky.


FanDuel includes to income lead


DraftKings held the deal with advantage over FanDuel but lost the profits fight. FanDuel led the Bluegrass State with a 10.6% hold from a $92.3 million manage that produced $9.8 million.


FanDuel likewise leads Kentucky sports betting operators in all-time profits with $131.5 million.


bet365 created a $24.5 million deal with and was the only other online operator to take a minimum of $1 million in revenue. BetMGM produced a hold under 6% that resulted in a 47% month-over-month drop in profits.


Caesars had an even worse go, recovering only 3.4% of the $11.5 million in wagers accepted. Fanatics Sportsbook took in $9.6 million, nearly similar to last month's deal with, however took $300,000 less in October earnings.


ESPN BET produced a 6.3% win rate on a $6.5 million deal with, while Circa Sports suffered an almost $200,000 loss on $5 million in wagers accepted.


Retail concerns


October marks the first losing month for Kentucky's brick-and-mortar sportsbooks. Three of the nine retail operators reported an adjusted profits loss.


Churchill Downs, which is partnered with Kambi, suffered the most, losing $132,480 in adjusted revenue on a deal with of $3.5 million, the largest among brick-and-mortar shops. Turfway Park lost $70,863 while Ellis Park finished October over $50,000 in the red.