DraftKings, FanDuel Dominating Kentucky Sports Betting

Sep 30, 2023; Lexington, Kentucky, USA; Kentucky Wildcats running back Demie Sumo-Karngbaye (0) (L) celebrates with defensive lineman Deone Walker (0) (R) during the third quarter against the Florida Gators at Kroger Field. Mandatory Credit: Jordan Prather-USA TODAY SportsThe Kentucky Horse Racing Commission released sports betting numbers for November and DecemberDraftKings and FanDuel have dominated the state since it launched sports betting in SeptemberBet365 is proving to be popular in Kentucky

Better late than never.

The Kentucky Horse Racing Commission yesterday released the state’s November and December sports betting totals, showing Kentucky has handled $855.7 million in online sports bets and $36.6 million in retail bets since the state launched betting in September.

FanDuel and DraftKings have accounted for more than 76% of Kentucky’s total online sports betting handle.

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Bet365 Holding Its Own in Bluegrass State

The domination of FanDuel and DraftKings is not surprising, but a surprising operator has claimed a spot on the pedestal. Bet365 had accounted for the third highest online sports betting handle since launch with $65.7 million and $12.5 million in adjusted gross revenue. The operator has reported nearly a 20% hold in the Bluegrass State, topping both FanDuel (12.1%) and DraftKings’ (11.9%) hold rates so far.

Bet365 has contributed $1.7 million to the state in online sports betting tax revenue so far.

However, it’s unclear as to what bet365 and every other online operator has spent in promotions in the state, as the Kentucky Horse Racing Commission has amended the reports to no longer show those totals.

Newcomer ESPN BET has reported $39.5 million in online sports betting handle since launch and $5.3 million in adjusted gross revenue. ESPN BET officially launched in state in November and opened as Barstool Sportsbook when Kentucky opened its sports betting doors in September.

Kentucky Sports Betting Totals for November and December

Here are the Kentucky online sports betting handle totals for the month of November.

DraftKings: $101,927,829ESPN BET: $17,604,082Fanatics: $5,454,167Caesars Sportsbook: $14,950,556Bet365: $18,195,436BetMGM: $12,415,481FanDuel: $101,976,465

Adjusted gross revenue totals for November:

DraftKings: $8,227,431ESPN BET: $2,728,520Fanatics: $276,742Caesars Sportsbook: $725,541Bet365: $2,359,397BetMGM: $1,018,595FanDuel: $5,792,432

Here are the Kentucky online sports betting handle totals for December:

DraftKings: $98,494,781ESPN BET: $19,041,402Fanatics: $5,593,800Caesars Sportsbook: $14,140,031Bet365: $15,783,029BetMGM: $9,291,421FanDuel: $92,958,694

Historic Kentucky Sports Betting Totals

Here are the Kentucky online sports betting handle totals for each operator since the state’s September launch:

DraftKings: $327,595,765ESPN BET: $39,584,511Fanatics: $15,735,684Caesars Sportsbook: $43,302,985Bet365: $65,698,459BetMGM: $36,419,373FanDuel: $327,403,195

Here are the total adjusted online sports betting gross revenues for each operator:

DraftKings: $39,179,348ESPN BET: $5,384,709Fanatics: $1,190,878Caesars Sportsbook: $4,086,374Bet365: $12,532,581BetMGM: $4,620,834FanDuel: $39,687,552