Introduction to Kentucky Sports Betting
The Bluegrass State’s online and retail sportsbooks claimed $26 million in gross revenue from a $210 million handle. Kentucky sports bettors wagered 15.6% more money in May compared to the same month in 2024.
Key Takeaways
- Gross revenue increased 21.3% from the previous May.
- The latest hold is the second highest year-to-date and the ninth of at least 12% since wagering began in September 2023.
- FanDuel and DraftKings both made more revenue in May than in April, despite lower handles.
Sports Betting Handle and Revenue
The Kentucky Horse Racing and Gaming Corporation recently reported the handle spike came from $209.6 million in bets during a month dominated by the NBA and NHL Playoffs and MLB. Online and retail sports betting operators already eclipsed a $200 million handle for the fifth time this year, something they only did six times in 2024. Sportsbooks claimed $26.2 million in gross revenue, a 21.3% year-over-year increase from a 12.5% hold, the second highest year-to-date. It’s the ninth time Kentucky sports betting produced a monthly win rate of at least 12%.
Impact on Taxes and Income
The $25.7 million in adjusted revenue led to $3.5 million in taxes for the commonwealth, which generated $18 million in income since the start of 2025.
Basketball and Sports Betting
May’s handle was down about $10 million compared to April. However, U.S. sports betting operators enjoyed great success during the NBA Playoffs, which likely led to a 10.5% month-over-month revenue increase despite lesser action. The last full month of basketball in a state consumed by hoops helped up year-to-date total profit to over $133.5 million. March was the only month during that span operators had a single-digit hold as bettors’ success ran rampant during the NCAA tournament.
Top Operators in Kentucky
Sportsbooks hauled in around 11% more gross revenue during this April and May compared to the same period in 2024, thanks to a run of upsets throughout the postseason. The top two operators, FanDuel and DraftKings, both made more revenue in May than in April, despite lower handles.
Online Operator Performance
Here is a breakdown of the top online operators in Kentucky:
| Online Operator | May Handle | Revenue |
| — | — | — |
| DraftKings | $76.9 million | $9.4 million |
| FanDuel | $68.9 million | $9.9 million |
| bet365 | $20.2 million | $1.9 million |
| Fanatics Sportsbook | $11.2 million | $1.2 million |
| Caesars | $10 million | $727K |
| BetMGM | $9.9 million | $1.1 million |
Online Sports Betting in Kentucky
Online sports betting generated $205 million in wagers and $25.6 million in gross revenue in Kentucky during May. DraftKings led all operators with $76.9 million in May bets and hauled in $9.4 million in profit. However, FanDuel enjoyed a better hold, making $9.9 million in gross income from a $68.9 million handle.
Conclusion
In conclusion, Kentucky sports betting has seen significant growth in recent months, with a 21.3% increase in gross revenue from the previous May. The top operators, FanDuel and DraftKings, have both made more revenue in May than in April, despite lower handles. As the sports betting industry continues to evolve, it will be interesting to see how Kentucky’s market develops and how the top operators adapt to changing consumer behavior.
