Kentucky reports $2.39bn sports wagering handle for FY 2023/24

Combined figures from online and retail sports wagering have been released by the KHRC.

• Retail wagering was eclipsed by online by over $2bn 

• The release of this report marks Kentucky’s first ever full year financial period 

The Kentucky Horse Racing Commission (KHRC) has released its full year 2023/24 sports wagering figures for the period beginning September 2023 and ending August 2024, revealing a wagering handle of $2.39bn.  

Online sports wagering displayed a complete dominance over retail, as the report details a breakdown of $2.3bn wagered online, compared to a figure of £87m wagered on sports at retail locations in Kentucky. DraftKings took the most wagers and winnings for the online category, with figures hitting $895m and $792 respectively. However, FanDuel led the way in adjusted gross revenue (AGR), reporting $105.9m. With regard to retail, Kambi reported a figure of $49.8m wagered for the 12-month period.  

Figures released by the commission also confirm a total AGR figure of $272m for combined online and retail sports wagering in the Bluegrass State, which initially legalized sports betting in March 2023.

Turning towards the monthly figures, total spending rose by 17% to a figure of $151.4m in August compared to statistics from July – with online wagers reaching $147m. However, AGR fell by 22% from a figure of $15.1m in July to $11.8m in August.  

It has been a busy first full year of sports betting regulation for Kentucky, with players already having wagered $250m in the first six months of the market’s opening. Now, the Bluegrass State will turn over into its second year as we near the conclusion of 2024.  

Will Underwood

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