Kambi is providing insight into its existing tribal sports betting markets.
The sportsbook platform company has released its annual Tribal Sports Betting Report, which details the continued growth of Indian gaming across America. In the report, Kambi evaluated its network of eight tribal partners. Kambi, which launched in 2010, has a portfolio of partners that include Seneca Gaming Corporation, Desert Diamond Casinos, Mohegan Gaming and Entertainment, and Prairie Band Casino & Resort.
“Tribes have shown time and time again they know what it takes to launch successful casinos and sports betting should be no different,” said Kambi Vice President of Sales David M. Bretnitz. “Whether it is retail, online, or both, Kambi is committed to delivering the right experiences to attract U.S. bettors and more importantly provide our tribal partners with the resources necessary to retain them long-term.”
In 2023, bettors using Kambi’s services displayed a strong interest in basketball with the sport making up 44% of the total handle for tribal partners. Football was the next closest sport at 19%. Baseball was close behind with 18% of the handle while soccer and ice hockey both finished with 3%. Other sports made up the remaining 13%.
Last year, Kambi’s tribal partners reported a 128% year-over-year uptick in total handle.
Kambi also reported an influx of wagers on football in 2023 with the sport making up 35% of all bets from its tribal partners. Basketball saw the second-highest rate of bets at 27%, while baseball closed at 20%. Ice hockey finished at 6% with soccer closing at 5%.
Kambi reports retail wagering growth
Last year, the company’s tribal partners posted both handle and wager growth for marquee sporting events at retail sportsbooks.
Super Bowl LVII saw a 112% increase in handle compared to 2022’s Big Game. The fixture, which saw the Kansas City Chiefs beat the Philadelphia Eagles, also posted an 84% year-over-year uptick in the number of bets placed.
In 2023, Kambi’s tribal partners reported a 159% increase in March Madness handle compared to the year prior. The competition’s number of bets placed grew by 63%.
Bettors reinvest using Kambi’s platform
Kambi has found that online tribal bettors reinvest their winnings at a 94% rate within the first 24 hours following a win, while retail bettors reinvest at a 77% rate for the same period.
Kambi’s report details that within the first 10 minutes of a win, online bettors reinvest those winnings at a 62% rate. For retail, 48% of winnings are reinvested within 10 minutes of a win
Kambi is poised to see its tribal partners continue to grow as regulated wagering expands.
