Horse Racing Betting Surge Amid Kentucky Sportbook Success

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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.