June Produces Kentucky’s Slowest Sports Betting Month

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The Kentucky Horse Racing and Gaming Commission reported that online and retail sportsbooks integrated to accept $150.3 million of wagers in June, down 17.1% from May. It was the first true summer slowdown month for Bluegrass wagerers as the NBA and NHL wrapped up their seasons and MLB provided most of major wagering events.


Gross revenue 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 earnings of $15.4 million in June resulted in $2.2 million in taxes paid to the Commonwealth.


Impressive first half


Despite the lower figures in June, the amount bet in Kentucky all-time exceeded $2 billion while operators have hauled in more than $250 countless revenues and filled Kentucky's coffers with $35.3 million in tax profits.


Kentucky sports betting has actually likewise created a manage of $1.2 billion and revenue of more than $143.9 million in the first 6 months of 2024. Operators have delighted in an 11.6% hold year-to-date.


Battle of the bigs


Online sports betting accounted for $145.7 countless Kentucky's total manage in June.


DraftKings produced the greatest amount of wagering in the Commonwealth with a $56.6 million deal with. The online operator's hold fell simply shy of double digits, allowing FanDuel to rake in the most revenue 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 best hold.


June was a solid month for bet365, which recorded 3rd place in online manage and was the only other sportsbook to reach $1.2 million in profits. Caesars got to $9.1 million in wagers while BetMGM wasn't far behind with an $8.2 million deal with while also taking pleasure in a 9.3% hold.


ESPN BET had the second-highest win rate for June at 10%, but the PENN Entertainment-owned sportsbook summoned just the sixth-best deal with and made half of BetMGM's total revenue.


Fanatics wasn't far behind with a handle of $4 million, and Circa produced a 13% hold on a deal with of $805,833 in its very first complete month considering that launching in Kentucky in May.


Churchill Downs dominates


Retail sports a manage 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 amount wagered, representing $2.3 million at its Kambi-operated sportsbook. Turfway Park completed second with a manage of $821,930 while Red Mile produced $782,285 in bets.