In April, the Connecticut Department of Consumer Protection released figures on the state’s combined online and retail sports wagering handle. The data reveals a notable 20.8% decrease compared to the previous month.
Betting Handle Overview:
The combined online and retail sports wagering handle in Connecticut for April was $126.7 million.
This represents a significant drop of 20.8% from the $160 million reported in March.
Mobile vs. Retail Betting:
Mobile sports betting accounted for the majority, with a handle of $118.3 million.
This figure reflects a 21.2% decrease from March’s $150.2 million but shows an encouraging 8% year-on-year increase.
The retail sports betting handle was $8.3 million, down 14.6% from March but up by a substantial 19% compared to April 2022.
Gross Gaming Revenue (GGR):
Connecticut’s gross gaming revenue for April was $13.1 million.
While this marks a 20.4% decrease compared to the previous month, it represents a noteworthy 42.1% year-on-year increase.
Tax Contributions:
The state’s general fund received $1.45 million in taxes from the sports betting industry in April, which is close to the previous month’s collection of $1.85 million.
Performance of Top Operators:
Mobile sports betting operator FanDuel led the way with a handle of $57.2 million, revenue of $6.4 million, and a win rate of 11.2%.
DraftKings followed closely with $49.8 million in sports wagers and $4.8 million in revenue.
SugarHouse reported a handle of $11.4 million and revenue of $871,700.
The Connecticut sports betting market experienced a significant 20.8% decline in its handle in April compared to the previous month. While mobile betting remains dominant, the retail sector also showed promising year-on-year growth. Despite the monthly decrease in gross gaming revenue, Connecticut’s general fund continued to benefit from tax contributions. Leading operators like FanDuel, DraftKings, and SugarHouse maintained a strong presence in the state’s betting landscape. As the market continues to evolve, these statistics provide valuable insights into the dynamics of Connecticut’s sports betting industry.