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The sports wagering data for the fiscal year 2023–2024, which spans from September 2023 to August 2024, have been released by the Kentucky Horse Racing Commission (KHRC). A staggering $2.39 billion was wagered over this time span.
The numbers clearly show that sports betting via the internet is preferred over in-person choices. Only $87 million was wagered at physical places; $2.3 billion was wagered online. DraftKings was the clear winner among online operators, with $895 million in bets and $792 million in winnings. With $105.9 million, FanDuel, however, took first place in adjusted gross revenue (AGR). Kambi reported $49.8 million in wages for the retail industry during the course of the full year.
This significant growth reflects Kentucky’s expanding sports betting market, which officially legalized wagering in March 2023. The KHRC confirmed that the combined AGR for both online and retail sports betting reached $272 million.
Examining monthly statistics, total wagering increased by 17% in August, amounting to $151.4 million compared to July’s figures. Online betting alone contributed $147 million to this total. However, the AGR showed a decline, dropping 22% from $15.1 million in July to $11.8 million in August.
The first year of Kentucky’s legalized sports betting has been rather eventful, notwithstanding these variations. Over $250 million was wagered by players in the first half-year after the market’s introduction. The Bluegrass State will begin its second year of legalized sports betting in 2024, bringing with it both benefits and concerns.