Connecticut Sports Betting Continues to Grow with December Increase
The Connecticut sports betting market continued to grow in December, reaching $150.1 million in handle for the month. The December total was 13.9% more than November’s handle of $131.7 million.
Online sports betting made up the majority of the handle at $143.6 million for an increase of 12.6% from November’s $127.5 million.
Retail sports betting produced $6.5 million of the handle, up 55.5% from November’s $4.2 million.
Connecticut’s sports betting total taxable gaming revenue was $6.7 million for December ($6.3 million online, $396,051 retail), a decrease of 46.4% from November’s $12.5 million ($11.7 million online, $816,828 retail).
At 13.75%, Connecticut has one of the lower tax rates on mobile sports betting in the northeast. By comparison, both New Hampshire and New York’s tax rate is 51%, while the nationwide average is 11%.
State revenue share from sports betting was $929,336 in December, a decrease of 45.7% from November’s $1.7 million.
Connecticut Sports Betting, December vs. November
|Total handle||Mobile handle||Revenue|
|Change||Up 13.9%||Up 12.6%||Down 46.4%|
Mobile Sports Betting in Connecticut
Connecticut has one of the country's newer online sports betting markets after it went fully live on Oct. 19, following a soft launch on Oct. 12.
Residents have three online sportsbooks at their disposal, including DraftKings, FanDuel and SugarHouse.
DraftKings gained access through a partnership with the Mashantucket Pequot Tribe, while FanDuel is partnered with the Mohegan Tribe. The Connecticut Lottery Corporation selected Bet Rivers and its SugarHouse sportsbook as its sports betting partner, giving its citizens three sports betting options.
“This is an exciting moment for our state and our tribal partners,” Gov. Ned Lamont said in a media release when online sports betting went live in the state. “Connecticut has proven to be a leader when it comes to the gaming economy going back decades, and that legacy will continue with the launch of these new online options for all eligible residents. I am very proud to say that I placed the first legal, in-person sports wager in our state’s history just two weeks ago, and I encourage those who want to participate in placing wagers to do so responsibly. I extend my gratitude to the staff at the Department of Consumer Protection for their efforts over the last several months to make this possible, particularly since this is one of the fastest state implementations of online gaming and sports wagering of any state in the nation.”
Connecticut Online Casino
Online casinos in Connecticut recorded a handle of $814.9 million during December, up 17.9% from November’s $691.3 million.
December’s online casino total taxable gaming revenue was $16.3 million, an increase of 17.3% from November’s $13.9 million. The state’s December revenue share from online casino gaming was $2.9 million, 16% more than November’s $2.5 million.
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