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Sports technology company believes Kansas will make more revenue than expected with sports betting bill

Sports technology company believes Kansas will make more revenue than expected with sports betting bill
Published: May. 12, 2022 at 10:19 PM CDT
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TOPEKA, Kan. (WIBW) - One sports technology and data company representative said the state stands to cash in.

Kansans will soon be able to take their money to casinos, restaurants, and bars offering sports betting. Sportradar’s Head of Government Affairs and former Michigan State Representative Brandt IdenBrandt Iden said the move could bring more outside bettors to the sunflower state.

A representative from RLM Public Relations said 98% of U.S. sportsbooks run on Sportradar data. Sportradar captures every data point from every major US professional and college game. They said Sportradar is the world’s largest sports technology and data company by revenue and volume of data.

“Absolutely fantastic, it’s been great to see it,” said Iden.

Kansas Governor Laura Kelly signed House Substitute for Substitute for Senate Bill 84 into law legalizing sports wagering, saying “This is another mechanism that casinos, restaurants, and other entertainment venues can now utilize to attract Kansans to their establishments.”

Iden agrees.

“I think it 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 spot.”

The state will collect a 10% tax on each bet with 80% of the revenue put into a fund to attract major sports teams, like the Chiefs, to Kansas.

It’s projected to bring in $10 million according to Iden who said that number is low.

“They’re going to come from Missouri, place their wagers in Kansas so I think that $10 million, now I don’t know much bigger it’ll be, but it’ll be a lot bigger than what the early revenue estimates are.”

It will be several months before you can place your bets. The law directs the State Lottery to adopt rules and regulations regarding the advertisement of sports wagering by January 1.

Iden said the state is pushing for a big market with different locations for people to go to.

“I think that’s probably what the legislators were thinking that this gives those mom-and-pop businesses and others the ability to sort of compete and bring new people in the door with this is as an option. People that want to come in and watch a game and bet at the same time on the kiosk.”

The opposition has said this bill could lead Kansans down the path to addiction. Iden and legislators have said during the process this would direct Kansans already betting to safely do it inside the borders.

“I was excited to pass sports wagering in Kansas, it’s something that Kansans are already doing, and it will bring additional tax revenue to our state to help with our needs,” Senator Rob Olson, Chair of the Senate Federal and State Affairs Committee, said. “My constituents have pushed for this legislation for years, and now, the next time we have a significant sporting event in our state, Kansans will be able to bet on their hometown team.”

“We have heard from our constituents for years about the need for a sports wagering program here in Kansas, both for the value it will bring to their lives and for the revenues it will generate for our state,” Senator Oletha Faust-Goudeau, Ranking Member of the Senate Federal and State Affairs Committee, said. “I’m proud to have contributed to this package that will do just that and revitalize my community by creating jobs in Wichita.”

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