Connecticut Records Impressive Betting Figures in October 2023
LISTEN TO THIS ARTICLE:The Connecticut State Department for Consumer Protection has posted its monthly revenue report for October, showing an improvement in online gaming and sports betting figures.
The state posted a sports betting handle of $189.6m for October, an increase of 15.5% compared to the same month last year. From the total figure, online betting contributed 93.7% at $177.1m, while the remainder came from retail.
The licensed sportsbooks in the state generated $16.3m in revenues, a 29.3% year-on-year rise. Online sports betting accounted for just over $15.0m of the total revenue.
FanDuel and Mohegan led the market, generating $7.6m in revenue, while DraftKings and Mashantucket followed closely behind with $6.3 million.
Connecticut saw its highest tax revenue from sports betting in this month, totaling $2.2 million since it launched its sports betting market in October 2021.
Online Gaming Revenue Reaches $1.14bn
Regarding online gaming, total wagers amounted to an impressive $1.14bn, a slight uptick from the previous month’s reported $1.12bn. Operators generated $46.2m in online gaming revenue, an increase of 34.7% year-on-year and a 5.2% increase compared to September.
Online gaming winnings during October reached $31.1m, up 2.6% from the previous month's reported $30.3m.
DraftKings, alongside its partner, the Mashantucket Pequot tribe, continues to dominate Connecticut's online gaming market, with $18.7m in revenue from $688.3m in wagers. Following closely behind, FanDuel and Mohegan Sun secured $12.3m in revenue from $458.8m in wagers.
Related: Connecticut’s Tribal Casinos Stand against Indoor Smoking
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