Kentucky ended 2024 with an 11% year-over-year boost in sports betting action.

The Kentucky Horse Racing and Gaming Corporation reported that $293 million was bet in December 2024, the second-highest manage behind November 2024's $301.7 million. This marked the fourth consecutive month with action surpassing $250 million.

However, the most affordable hang on gross profits produced yet in the Bluegrass State resulted in just $20.2 million in earnings, a 38% decrease from December 2023 and down almost 45% month-over-month.

Similar to October, when Kentucky's online and retail operators produced a 7.7% hold, NFL favorites had excellent success in the last complete month of the regular season. Bettors cashed in, leading to a 6.9% hang on gross earnings that was down five points from November.

The adjusted income of $19.5 million came on a 6.7% hold, likewise the most affordable ever in Kentucky.

The Bluegrass State carried in $2.9 million in tax income, down from the $5 million gotten in November.

Exceeding forecasts

Kentucky's first full year of sports wagering created $2.6 billion in wagers and $283.7 million in gross income from a 10.7% hold. Adjusted income reached $276.9 million behind a double-digit win rate.

When sports wagering first began in the Bluegrass State in 2023, officials projected $23 million in yearly tax earnings. In 2024 alone, the state collected $39.3 million. Kentucky has actually filled its coffers with almost $55 million in 15 months of operation.

DraftKings nearly generates $1 billion

Legal online sports betting created $285.5 million in wagers and $20.3 million in gross earnings throughout December.

DraftKings nearly matched its record-setting November with a December deal with of $111.7 million, down about $700,000 from the previous month. Gross revenue fell from $15 million to $8.7 million month-over-month.

The online sportsbook finished 2024 with the greatest manage, falling less than $2 million shy of $1 billion in the amount wagered for the year.

a higher profit margin in December, receiving $9.1 countless gross profits on a $95.4 million handle. FanDuel's 9.5% hold was the highest among all eight online operators, and the online sportsbook finished second in annual manage with $862 million in 2024.

No other sportsbook reached $1 million in income throughout December. bet365 finished third with a $23.9 million manage while BetMGM, Caesars, and Fanatics Sportsbook all reached $13 million.

Circa Sports lost over $800,000 on a handle of $6.8 million to end at a loss for 2024. On $6.7 million in wagers, ESPN BET created a 3.2% hold in December but still benefited $7.2 million for the year.

Retail falters again

Brick-and-mortar sportsbooks took a nearly $52,000 loss on a $7.6 million handle in December. Adjusted profits ended up $70,000 in the red.

It's the 2nd time in three months that retail sports betting operators took a loss. In October, three of the eight stores reported adjusted revenue numbers in the red.