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

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

However, the most affordable hang on gross profits produced yet in the Bluegrass State led to just $20.2 million in earnings, a 38% reduction 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 final full month of the routine season. Bettors moneyed in, leading to a 6.9% hold on gross income that was down 5 points from November.

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

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

Exceeding projections

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

When sports wagering very first started in the Bluegrass State in 2023, authorities predicted $23 million in yearly tax revenue. In 2024 alone, the state gathered $39.3 million. Kentucky has filled its coffers with almost $55 million in 15 months of operation.

DraftKings almost generates $1 billion

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

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

The online sportsbook completed 2024 with the highest handle, falling less than $2 million shy of $1 billion in the quantity wagered for the year.

FanDuel generated a greater profit margin in December, receiving $9.1 countless gross earnings on a $95.4 million handle. FanDuel's 9.5% hold was the highest amongst all 8 online operators, and the online sportsbook completed second in yearly manage with $862 million in 2024.

No other sportsbook reached $1 million in revenue during 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 deal with 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 profited $7.2 million for the year.

Retail fails again

Brick-and-mortar sportsbooks took a nearly $52,000 loss on a $7.6 million deal with in December. Adjusted earnings finished $70,000 in the red.

It's the second time in 3 months that retail sports wagering operators took a loss. In October, 3 of the 8 shops reported adjusted revenue numbers in the red.