Sports tech company thinks Kansas will generate more revenue than expected from sports betting bill
TOPEKA, Kan. (WIBW) – A representative from a sports tech and data company says the state is ready to cash in.
Kansans will soon be able to deposit their money in casinos, restaurants and bars offering sports betting. Sportradar government affairs chief and former Michigan State Representative Brandt IdenBrandt Iden said the move could attract more outside bettors to the Sunflower State.
A representative from RLM Public Relations said that 98% of US sports betting runs on Sportradar data. Sportradar captures every data point from all major US professional and college games. They said Sportradar is the world’s largest sports data and technology company by revenue and data volume.
“Absolutely fantastic, it was great to see it,” Iden said.
Kansas Governor Laura Kelly signed the House Substitute for the Senate Substitute Bill 84 legalizing sports betting, saying, “This is a different mechanism than casinos, restaurants and other places entertainment can now use to attract Kansans to their establishments.
“I think that puts Kansas on the map. As the second state to pass sports betting this year, but the first in the Midwest for the year, I think Kansas is in a great position.
The state will collect a 10% tax on every bet with 80% of the revenue going into a fund to attract big sports teams, like the Chiefs, to Kansas.
It is expected to make $10 million according to Iden who said that figure was low.
“They’re going to come from Missouri, place their bets in Kansas, so I think $10 million, now I don’t know a lot bigger, but it’s going to be a lot bigger than the first revenue estimates. .”
It will take several months before you can place your bets. The law directs the State Lottery to adopt rules and regulations regarding sports betting advertising by January 1.
Iden said the state was pushing for a big market with different places people could go.
“I think that’s probably what the legislators thought it gives these family businesses and others the ability to compete and bring in new people with this as an option. People who want to come and watch a game and bet at the same time on the kiosk.
The opposition said this bill could lead Kansans down the path of addiction. Iden and lawmakers said during the process that it would order the Kansans to do so safely within the borders.
“I was excited to move sports betting to Kansas, it’s something Kansas is already doing, and it will bring additional tax revenue to our state to meet our needs,” said Senator Rob Olson, chairman of the Senate Federal and State Affairs Committee. mentioned. “My constituents have been pushing for this legislation for years, and now the next time we have a major sporting event in our state, Kansans can bet on their hometown team.”
“We have heard for years from our constituents about the need for a sports betting program here in Kansas, both for the value it will bring to their lives and for the revenue it will generate for our state,” said said Senator Oletha Faust-Goudeau, Ranking Member of the Senate Federal and State Affairs Committee, said. “I am proud to have contributed to this package which will do just that and revitalize my community by creating jobs in Wichita.”
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