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Kentucky online sportsbooks collect $175.5 million handle in May

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Sports Betting

2024-07-12

Kentucky online sportsbooks collect $175.5 million handle in May

The Kentucky Horse Racing Commission has reported a sports wagering total of $181.4 million in handle in May, with $175.5 million online sportsbooks and $5.8 million in retail.

DraftKings collected the highest handle of $69.9 million, followed by FanDuel with $59.0 million and Bet365 with $15.6 million. However, FanDuel led the way in adjusted gross revenue, reporting $9.5 million, while DraftKings collected $7.2 million and Bet365 $1.2 million. Total AGR was about $21.2 million, including $20.5 million from online sportsbooks and $635,992 collected by retail venues.

May’s totals resulted in almost $3 million in excise tax paid to the state, which goes toward public education, pension programs and other state causes. Kentucky gaming tax is calculated from AGR at the rate of 9.75 percent for retail sportsbooks and 14.25 percent for online wagering.

1Legal sports betting was launched in Kentucky in September, so no year-on-year figures are available. However, May’s figures were down slightly from April, where handle reached $180.8 million and AGR was $22.8 million.

The Bluegrass State is home to eight online sports betting operators after Las Vegas-based operator Circa Sports launched this year in partnership with Cumberland Run in Corbin.

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