The sports betting industry could prove to be a huge deal in the state of Kansas. With a population of just under 3 million, Kansas has a low tax rate on sports betting revenue at 10% and ranks 35th among U.S. states in terms of population. Once sports betting sites open in Kansas this fall, however, the state may turn out to be a thriving market.
When the Kansas sports betting market fully rolls out, the variety of wagering opportunities available to punters will be a major plus. There is potential for 12 Kansas betting apps to launch, as each of the four state-run casinos – Hollywood in Kansas City, Boot Hill in Dodge City, Kansas Star in Mulvane, and Kansas Crossing in Pittsburg – can form partnerships with up to three sports betting apps.
Sports Betting Industry In Kansas
It’s worth noting that just eight online sportsbooks were licensed in New York State as of this spring, despite the fact that the state has become the largest online sports betting market in the country. There were only nine in Illinois, seven in Louisiana, and seven in Illinois.
It’s true that some states have more than a dozen online sportsbooks available, but that’s usually because they have a lot more people. Since 90 percent of all sports wagers are placed online, Kansas has a great head start. There will be no in-person registration requirements like in Nevada or prohibitions on wagering on college sports played within the state of Kansas like in New Jersey.
Although retail wagering accounts for a relatively small share of the sports betting industry as a whole, all four state-owned casinos in Kansas will have sportsbooks within the next few years.
The online aspect, however, is the most important factor. New bettors can take advantage of specials at online sportsbooks in Kansas that aren’t available at traditional betting establishments. It’s possible to get a risk-free wager of $1,000 with a BetMGM Kansas bonus code, and a wager of $1,500 with a Caesars Sportsbook Kansas promo code. Not only do they have partnerships lined up, but so do other industry heavyweights like FanDuel Kansas and DraftKings Kansas.
Bettors in Missouri could benefit from this too. Per the Iowa Racing and Gaming Commission, the Hawkeye State brought in $8.7 million in tax revenue from sports betting in 2021, with a slightly larger population than Kansas and a lower tax rate on sports betting revenue (6.75 percent).
Even though West Virginia has a smaller population than Kansas and the same tax rate of 10%, the state lottery reported nearly $550 million in wagers and $4.78 million in taxes collected in 2021. However, West Virginia is surrounded on all sides by states that allow sports betting.
Since Missouri will not be approving a sports betting measure until 2022, the Sunflower State can expect a large influx of visitors from Missouri, particularly those interested in wagering on the Kansas City Chiefs. Its southern neighbor, Oklahoma, also prohibits sports betting, and its northern neighbor, Nebraska, is waiting for legislation that would restrict retail wagering to authorized horse tracks.
Kansas is not slated to take New York’s place any time soon. There is a large and growing market of Missouri residents interested in NFL betting, college football betting, and March Madness betting, so bookmakers have to compete to attract them.
It appears betting might be active in the state by the time the NFL season kicks off this year, as hoped. FanDuel and DraftKings have both released pre-registration sign up offers this week, and sports betting is expected to launch in Kansas in less than a month.
A reliable source in the business world has informed Actionnetwork that additional operators are planning to join them the following week. After Kansas passed its sports betting bill in April, Action Network reported that operators were targeting the first week of the NFL season.
“We’ve done what we need to do to get this moving to try to meet the start date of the NFL football regular season,” David Moses, chairman of the Kansas Racing and Gaming Commission, said at a regulatory meeting on Friday,
The Kansas Lottery’s proposed rules for businesses were unanimously approved by the commission at their meeting on Tuesday. Sports betting was legalized in Kansas by Gov. Laura Kelly in May, and both groups are responsible for putting the law into effect.
Despite a provision in the law allowing the lottery to issue temporary regulations by the end of August, no operators have been approved as of yet.
After completing regulations to submit to the commission, Kansas Lottery Executive Director Stephen Durrell declined to provide a start date earlier this week. “We are hopeful this will be soon so we can launch sooner rather than later,” he said.