A Blockbuster Month for Connecticut's Licensed Gambling Operators
September's Betting and Internet Gaming Revenues Soar in Connecticut
September saw a jaw-dropping surge in betting activities for Connecticut's online casino and sportsbook operators, according to the state's Department of Consumer Protection.
Record-Breaking Betting and Revenue
Last month's online casino bets whopped an astounding $943.5 million, smashing the previous record set in August by a considerable margin. This sum equates to a staggering $24.3 million in gross revenue for the evener-winning licensed gambling operators.
Similarly, sports betting operators reported an impressive $130.5 million in betting handle last month – a substantial 63% increase compared to August. The revenue skyrocketed to a record $12.9 million.
DraftKings Hits a Home Run, While FanDuel Faces a Slump
DraftKings reveled in a boost of nearly 31% in customer activity for their online casino operations in September, bagging $588.4 million and over $14 million in revenue. Conversely, FanDuel experienced a nearly 12% decrease, reporting $351.7 million in online casino activities.
Boosting the State's Tax Revenue
Connecticut's online gambling operators are leaving no stone unturned. In 2022 alone, a staggering $7 billion was wagered through these operators. For the last year, Connecticut operators amassed a total of $246.1 million in gross revenue from online gambling. Meanwhile, sports betting operators reported close to $1.4 billion in the betting handle and netted $114.3 million in gross revenue.
Last month, the state reaped nearly $1.8 million in taxes from sports betting, with the total revenue amounting to $12.3 million since the activity's launch. Online gambling operators added $3.4 million in taxes to the pile, bringing the total taxes collected in the last 12 months to around $35.2 million.
Connecticut's Gambling Landscape
Connecticut was among the American states that legalized sports betting in 2021. The state's retail market launched on September 30, 2021, while online operations commenced on October 12, 2021. These activities are now offered by Tribal casinos, licensed online operators, and the CT Lottery.
- The online casino and sportsbook operators in Connecticut saw a record-breaking surge in betting activities, with $943.5 million in online casino bets and a $12.9 million revenue in September.
- DraftKings saw a boost of nearly 31% in customer activity for their online casino operations last month, generating $588.4 million and over $14 million in revenue.
- FanDuel, on the other hand, experienced a nearly 12% decrease, reporting $351.7 million in online casino activities for September.
- In 2022, Connecticut operators have already amassed a total of $246.1 million in gross revenue from online gambling, with a staggering $7 billion wagered through these operators in that year alone.
- Since the launch of sports betting in Connecticut, the state has reaped close to $1.4 billion in the betting handle and $114.3 million in gross revenue from sports betting, generating nearly $1.8 million in taxes last month and a total of around $35.2 million in taxes in the last 12 months.
