Kentucky followed several other states with a record November. The Kentucky Horse Racing and Gaming Corporation recently reported a monthly $301.7 million handle, the most since sportsbooks launched in September 2023. The previous $288 million high came in the first full month of wagering last October. November's handle is also a 6.8% increase year-over-year.
Bluegrass State online and retail books added $36.6 million in gross revenue to their yearly total of more than $260 million. Hold rose 64.7% while $35.9 million in adjusted revenue increased 66.3% from last November.
The 11.9% was up more than four points year-over-year. The state filled its coffers with $5 million, bringing its yearly tax revenue haul to over $36 million.
Month-over-month improvement
October was a rough month for Kentucky sports betting operators. Sportsbooks suffered a 61% year-over-year revenue drop and a win rate below 8%. November produced a strong bounce-back. The handle was up nearly 10%, while adjusted revenue jumped 75% month-over-month.
Retail books went from a $78,000 October revenue loss to a $685,000 November gain. Online books saw their hold rise from 8% to 12.3% during a record-high handle.
DraftKings sets new mark
| Operator | November Handle | Revenue |
| DraftKings | $112.4 million | $15 million |
| FanDuel | $100.1 million | $13.2 million |
| bet365 | $26.1 million | $2.9 million |
| BetMGM | $15.2 million | $1.7 million |
| Caesars | $14.3 million | $1.3 million |
| Fanatics Sportsbook | $11.7 million | $1 million |
DraftKings set a Kentucky record with a November $112.4 million handle. The online operator also hauled in $15 million in gross revenue, up nearly $7 million from October, thanks to a 13.3% hold.
FanDuel also surpassed $100 million in handle while joining DraftKings as the only two online books to generate $1 billion in wagers all-time in Kentucky. FanDuel finished second in revenue with $13.2 million.
bet365 easily held onto its third-place finish with $26.1 million wagered and $2.9 million gained. BetMGM went over $15 million in handle and joined bet365 with 11% holds.
Caesars generated $14.3 million in wagers while Fanatics Sportsbook was the only other operator to go over $10 million in handle and $1 million in gross revenue. ESPN BET generated less than $8 million in wagers and produced a win rate below 8% while Circa Sports enjoyed a 10.5% hold on a $3.2 million handle.
Bluegrass State news and notes
Circa Sports nearly had a great December start. A Kentucky bettor sweated out a $3.1 million wager on a Philadelphia Eagles' win over the Carolina Panthers on Dec. 8. The 22-16 victory netted the bettor $442,800 from the moneyline bet.
Bluegrass State sports bettors have a new option in 2025. Prime Sports gained an operating license earlier this month, now the ninth online sportsbook in Kentucky. Prime Sports, offering no limits and an old-school bookmaking approach, hopes to launch before the Kentucky Derby in May.
