Kentucky’s Sports Betting Market Declined in June

Market Slows as Off-Season Comes

The latest figures from the Kentucky Horse Racing Commission show that the total handle for the state’s eight licensed sports betting operators reached $150.3 million, marking a 17% drop from May.

Online betting continues to dominate Kentucky’s sports betting landscape, accounting for $145.7 million of the total handle in June.

Despite the lower handle, online operators still generated considerable revenue, with an adjusted gross revenue (AGR) of $14.9 million, translating into $2.1 million in state excise tax contributions.

However, this was a decrease from May, when the AGR for online operators stood at $20.5 million, accompanied by $2.9 million in excise tax.

DraftKings Leads the Market in Kentucky

DraftKings continues to hold the top spot among Kentucky’s sports betting operators, maintaining its lead for the eighth consecutive month. The Boston-based company reported an online handle of $56.6 million for June, with adjusted gross revenue of $5.2 million.

FanDuel followed closely behind DraftKings with an online handle of $47.3 million and higher adjusted gross revenue of $6.5 million.

Bet365 managed to secure the third-highest online handle with $15.6 million and $1.1 million in adjusted gross revenue.

BetMGM and Caesars were closely matched, with Caesars slightly ahead in June with a $9 million online handle compared to BetMGM’s $8.1 million.