Horse Racing Betting Surge Amid Kentucky Sportbook Success
Transcript
00:00Mhm. Especially for people who are interested on betting on horse racing
00:06is that Jim really no demise for any sports betting. In fact, not just small
00:11percentage rises in sports betting, but pretty significant rises across a lot
00:15of the major operators like draft kings and fan duel. I mean, I mean, Jim,
00:19sometimes we could do a story and paint a narrative if this was only five or
00:2210%. But I mean, I'm looking at these numbers. This is 30 30 40% revenue.
00:28Yeah. So the Kentucky market has been been solid since they launched there in
00:34september in june $145.7 million that was bet and that pushed that total
00:41market past that $2 billion mark in total handle since september. If you
00:48recall, the retail sports books opened up on that that opening night of the
00:53NFL season last september and then the online sports books, the sports betting
00:59apps, they followed a couple weeks later towards the end of september. But all
01:03in all, over $2 billion bet in Kentucky from september through june and those
01:11percentages there were the market share that each of the operators has draft
01:17kings has the largest market share of handle there with 39% bet MGM and bet
01:233 65 keep going back and forth for that third and fourth position with roughly
01:286% of the market ESPN bet a couple of a couple of percentage points below that
01:35with 4.5%. And what we've seen from bet 3 65 and some of these other markets,
01:41especially in the midwest, like Ohio, where they're really starting to cement
01:45themselves as, you know, that third or fourth player in those markets,
01:50obviously behind those top two fan duel and and draft kings like we see in just
01:57about every single market across the country. But in these markets, these,
02:00you know, we'll call them smaller markets. Uh, bet 3 65 does seem to be
02:05growing in popularity. Uh, Churchill downs on the retail side, the most
02:11popular uh, retail in person sports book in Kentucky, $32.1 million in
02:19bets at Churchill does. And I found that interesting, um, mostly because
02:23they do shut that sports book down at points throughout the year when they
02:28have these marquee horse racing events. I recall around the Kentucky Derby in
02:33the lead up to the Derby and even a few days past the Derby with all of the
02:38preparations and all of the luxury seating that they have there, that
02:42sports book was was closed for at least two weeks, if not more so for them to
02:48still be tops in the retail market there. Uh, Churchill downs is in
02:53Kentucky. I thought that was pretty impressive, Craig.