[Purpose] The purpose of this study is to explore the determinants of sports betting revenue maximization by analyzing data from Keirin racing, one of the major sports betting events in Korea. Through this research, we aim to propose strategic management that can be formulated and implemented to maximize revenue from the supplier's perspective. Specifically, we examine the relationship between the level of players, races, and minimum odds per win on revenue to draw implications for maximizing revenue in the sports betting industry. [Methods] The study analyzes the data of 7,219 races and corresponding sales, conducted at Gwangmyeong Speedom from January 3, 2020, to August 18, 2024. Variables related to individual athletes, as shown on the race card, and race-level variables that represent the gap between athletes and the competitive intensity were used as independent variables for the race revenue. Specifically, factors considered important in cycling races, such as total score, win rate, alliance rate, and trifecta rate, were analyzed, as well as the gap between the 7 athletes in each race. This included the Herfindahl-Hirschman Index (HHI) for total score, win rate, alliance rate, and trifecta rate, as well as the gaps in rankings (1st-2nd, 2nd-3rd, 3rd-4th, 4th-5th, 5th-6th, 6th-7th). [Results] Higher average overall scores (β= .38, p < .001) and smaller performance gaps among players within the same race were associated with increased sales. Considering that higher average overall scores generally lead to higher sales, and that there are three distinct race categories in cycle racing (General, Excellent, and Special), we conducted a regression analysis by race category. The empirical analysis showed that, while there were some specific differences across race classes, in general, the higher the average overall score and the smaller the difference in past performance between players in the same race, the higher the revenue. In addition, regression analysis by race level showed that the relationship between minimum odds per win and revenue also tended to increase as the minimum odds per win increased, and this was more evident at higher race levels. This indicates a possible positive relationship between the perceived competitiveness of the race and customers' expected returns. [Conclusion] This study is expected to serve as a significant reference for the establishment of management strategies to increase the value of the sports industry, as it suggests an organizational system that can increase the revenue of keirin racing, one of the sports betting events.