Kentucky, the fifth state where the Las Vegas-based sportsbook has expanded its operations.
It is the Colorado and Iowa in addition to their home state of Nevada.
Circa’s entry into the Bluegrass State gives Kentucky eight mobile operators, and it is the first new mobile sportsbook after the commonwealth launched with seven digital operators Sept. 28.
What kind of impact can Circa have? 3r4y3g
As we (@CircaSports) approach the five year anniversary of our initial opening and launch in 2019, I’m very excited to share we are now live (as of 8am PST) in our fifth state, Kentucky! We look forward to the chance to EARN your business 🤝https://t.co/innHzmpqld pic.twitter.com/SoED0nLnLc
— Jeffrey Benson (@JeffreyBenson12) April 1, 2024
Kentucky averaged $269.2 million in mobile handle in its first three full months of action, but that may skew higher when the Kentucky Horse Racing Commission releases January figures.
While FanDuel for the bulk of online sports betting as expected, nobody among the other five has been able to distinguish itself as a No. 3 option to bettors.
BetMGM all failed to reach a $20 million handle in either November or December, while Fanatics was last in that quintet with a combined $11 million in those two months. Circa Sports relies more on accepting high-limit bets and its price points than promotional credits and bonuses, which often results in a lower hold than most other sportsbooks.
The overall hold on gross revenue for the first three-plus months of wagering in Kentucky was 12.6% — 80% above the 7% industry standard. That is a stark contrast to Circa’s mobile sportsbook in Illinois, where it has a 1.4% win rate against $38.7 million in completed events handle through January since launch.
Circa, though, is also averaging $404 per wager via its sports betting app in the Land of Lincoln without taking any parlay wagers there.
