In July, the Connecticut Department of Consumer Protection released key statistics on the state’s sports betting scene, showcasing stable betting handles and a notable surge in revenue. The report also highlights the competitive landscape among key players, with DraftKings leading the way. Additionally, Bragg Gaming Group’s recent collaboration with FanDuel in Michigan and Connecticut brings an exciting array of gaming content to players in both states.
Connecticut’s July Sports Betting Overview:
Connecticut’s sports betting handle in July remained robust at $91.5 million, holding steady compared to June’s $91.4 million. However, the real highlight was the revenue generated, reaching $10.3 million—a significant 20% increase from June’s $8.6 million. This positive trend was fueled by both retail and online sportsbooks, indicating a thriving market.
Retail Performance and Key Players:
Despite recording the lowest wagers since its launch, retail operators contributed significantly to the overall performance. DraftKings emerged as the front-runner with a handle of $39.9 million, marking a notable 15% increase. In contrast, FanDuel experienced an 11% decline with a handle of $36.3 million. The Connecticut Lottery-operated SugarHouse reported $9.2 million in bets.
Tax Payments and Market Dynamics:
Tax payments in July amounted to $1.2 million, reflecting the positive impact of increased revenue from DraftKings and the state’s retail locations. DraftKings’ remarkable 47% revenue surge compared to June played a pivotal role in this financial boost. The overall retail market witnessed an impressive 163% increase, underscoring the sector’s resilience and growth potential.
Bragg Gaming’s Expansion with FanDuel:
Bragg Gaming Group’s recent foray into Michigan and Connecticut with FanDuel signifies a strategic move in the expanding iGaming landscape. The integration of Bragg’s proprietary content and Remote Games Server (RGS) technology enhances the gaming experience for FanDuel players in both states.
Gaming Content and Partnerships:
FanDuel players now have access to a curated selection of games, including Atomic Slot Lab, Indigo Magic, and Spin Games. Bragg’s extensive portfolio, featuring games from Powered by Bragg partner studios like Bluberi, Incredible Technologies, Galaxy Gaming, Sega Sammy Creation, and King Show Games, will gradually roll out in the coming months. This collaboration aims to elevate the gaming offerings, providing a diverse and engaging experience for players.
Connecticut’s sports betting market continues to show resilience and growth, with July’s figures highlighting steady handles and a substantial increase in revenue. The competitive dynamics among key players, particularly the rise of DraftKings, contribute to the market’s vibrancy. Meanwhile, Bragg Gaming Group’s strategic collaboration with FanDuel adds a new dimension to the gaming landscape in Michigan and Connecticut, promising an exciting array of content for players to explore.