More Than $8 Million in Kentucky Sports Betting Tax Revenue Last Two Months

Sep 30, 2023; Lexington, Kentucky, USA; Kentucky Wildcats wide receiver Barion Brown (7) celebrates after the game against the Florida Gators at Kroger Field. Mandatory Credit: Jordan Prather-USA TODAY SportsThe Kentucky Horse Racing Commission released sports betting revenue reports for January and FebruaryThe state reported more than $465.48 million in sports betting handle over the two monthsThe state took in more than $8 million in sports betting tax revenue

The waning moments of the NFL season were profitable for Kentucky and the state’s sports betting operators.

The Kentucky Horse Racing Commission released sports betting handle and revenue reports for both January and February. According to the commission, customers bet more than $465.48 million in online and retail sports betting handle over the two months, which including the NFL playoffs and Super Bowl.

This translated to more than $8 million in sports betting tax revenue for the commonwealth.

Kentuckians Flock to Sportsbooks for NFL Playoffs

The Kentucky Horse Racing Commission took several months to report the January and February numbers, releasing them on April 16. The March sports betting numbers have yet to be released by the commission.

In January, Kentucky sports bettors bet $246,060,027 online and $11,048,203 in retail sportsbooks for a total of $257,108,230 for the month.

The operators reported the following online sports betting handle totals for the month:

DraftKings (Cumberland Run): $92,517,689FanDuel (Turfway Park): $85,144,561Caesars Sportsbook (Red Mile): $21,840,025bet365 (Sandy’s): $14,775,771BetMGM (Sandy’s): $11,035,182ESPN BET (Ellis Park): $15,776,033Fanatics (Oak Grove): $4,970,767

For the month, Kentucky reported $5,193,552 in online sports betting tax revenue. FanDuel Kentucky was the most profitable operator for January, as it generated $2,187,182 in online sports betting tax revenue for the commonwealth.

The operators generated the follow tax revenue totals for January:

FanDuel: $2,187,182DraftKings: $1,933,050Caesars Sportsbook: $405,407bet365: $270,271BetMGM: $167,564ESPN BET: $151,834Fanatics: $78,244

In terms of retail sports betting, bettors placed $11,048,203 at retail sportsbooks and generated just $171,742 in retail sports betting tax revenue for January.

Super Bowl Draws Less, But February Still Profitable

January sports betting outdrew February, but the Super Bowl month was still a profitable one for Kentucky.

The Kentucky Horse Racing Commission reported $198,568,947 in online sports betting handle for the month. DraftKings led the way in the state in terms of online handle with $78,854,644 for the month.

The operators generated the following online sports betting handles for February:

DraftKings: $78,854,644FanDuel: $66,032,930Caesars Sportsbook: $17,021,878bet365: $13,166,382BetMGM: $9,146,066ESPN BET: $9,901,176Fanatics: $4,445,872

The state took in nearly $3 million in online sports betting tax revenue for the month, totaling $2,958,535 in online sports betting tax revenue for February. DraftKings narrowly edged out FanDuel as the most profitable operator in the state, totaling $1,183,839 in online sports betting tax revenue compared with FanDuel’s $1,101,565.

Here are the online sports betting tax revenue totals for the month:

DraftKings: $1,183,839FanDuel: $1,101,565Caesars Sportsbook: $302,373bet365: $137,541ESPN BET: $107,984BetMGM: $107,369Fanatics: $17,864

In terms of retail sports betting, bettors placed $9,806,655 at retail sportsbooks and generated just $70,433 in retail sports betting tax revenue for February.