In July, Kentucky Sportsbooks had a hold of just under 12%

Yesterday, the Kentucky Horse Racing Commission reported $15.4 million in gross sports betting revenue for July. The seven retail sportsbooks and eight mobile operators combined for a hold of just under 12%. That was Kentucky’s fourth consecutive month with a double-digit hold and the eighth time in their 10 months of full legal sports wagering. Kentucky’s hold was 11.9% in July and fell just short of their all-time high, 12%. Their betting handle was $129.3 million in July, down 14% from June. In the time that Kentucky sports betting has been open to the public, they’ve wagered more than $2.26 billion. September 7, 2023, was the first day that retail sportsbooks accepted legal wagers in Kentucky. Online operators did the same three weeks later. Kentucky was able to collect $2.1 million in tax receipts to lift their year-to-date total to $21.9 million.

What sportsbooks were the most profitable in Kentucky this past July?

In the United States, FanDuel and DraftKings compete to be the top sportsbook. Kentuckians favor FanDuel and that proved true in their July figures. FanDuel mobile sportsbooks accounted for 40% of overall gross operator revenue in July. They collected $6.2 million from a $42.1 million handle. This was the fourth consecutive month that FanDuel had a hold of 14% or higher to surpass $100 million in winnings since launching in Kentucky. DraftKings was able to beat FanDuel for the highest handle as they saw $48 million wagered in July. Additionally, DraftKings had a 12.2% hold to collect $5.9 million in revenue. It was DraftKings’ third time in 2024 they had a hold of 12% or better.

Bet365 claimed $1.3 million from the $14.8 million handle. They had a hold of 8.5% which was slightly higher than their year-to-date mark. For the third consecutive month, bet365 was able to surpass $1 million in winnings. Fanatics Sportsbook had a hold of 10.3% in July from a $4.4 million handle to collect $441,900 in revenue. It was the first time since January that Fanatics had a double-digit hold. BetMGM had a $6.5 million handle and a 6.4% hold to collect $405,700 in revenue. Kentucky’s seven retail sportsbooks had an 11.2% hold in July, good enough for $436,300 in gross winnings from a $3,9 million handle.