It took nine months for Connecticut sportsbooks to collect more than $1 billion in wagers in 2023.
The Connecticut Department of Consumer Protection reported $148.6 million in total sports betting handle for June, which helped the Nutmeg State eclipse the $1 billion mark for its year-to-date betting handle three months faster than it did last year.
Sports betting in Connecticut has already amassed 29.1% more wagers than the first six months of 2023.
Connecticut sportsbooks also beat their June 2023 handle by 62.5% despite declining month-over-month by 9.2% from May’s $163.6 million total.
June’s wagering activity grossed the three state sports betting operators $14.8 million in revenue on a 9.96% cumulative hold. Only February and March had lower monthly hold percentages in 2024 so far. Double-digit hold percentages were hit in January, April, and May as well.
State coffers enjoyed $1,695,681 in tax contributions from last month’s action, a sizable $734,000+ year-over-year increase in the month of June.
Dog Days?
June is not particularly renowned for its sports calendar, and thus, sportsbooks always expect a lull as the summer heats up. June’s handle was the lowest of 2024 for Connecticut sports betting, and also the lowest mark since August 2023.
Online sportsbooks in Connecticut collect the lion’s share of bets every month, and June was no different. The three online sports betting sites hauled in $141.84 million in online wagers and reaped $14.16 million in revenue on a 9.98% overall hold. Online sports betting in Connecticut should top $1 billion in online wagers after July’s reports come in since the June handle brought the year-to-date total to $975.4 million.
The state’s online operators have now generated $100.66 million in revenue through the first six months of 2024, good for a 10.32% overall hold.
Connecticut’s retail sportsbooks nabbed the other $6.72 million of the overall betting handle for the month, and had a 9.52% hold that drove over $639,500 in retail sports betting revenue.
These marks bring the year-to-date total for retail handle, revenue, and hold to $47 million, $4.82 million and 10.26%, respectively.
Sportsbooks breakdown
Small state, small market.
Connecticut online sports betting features FanDuel, DraftKings, and Fanatics taking all of the action.
Fanatics officially entered the Connecticut sports betting scene in December when it took over for PlaySugarHouse as the Connecticut Lottery’s online sports betting partner. Fanatics inched closer to the $100 million handle milestone with its $14.6 million online handle in June.
DraftKings beat out FanDuel in terms of handle, but faltered to its biggest rival in the revenue column.
FanDuel’s 12.26% hold in June helped it clear $50 million in gross gaming revenue from Connecticut sports betting through the first six months of 2024.
| Operator | June Handle | Revenue |
|---|---|---|
| DraftKings | $68.67 million | $5.7 million |
| FanDuel | $59.11 million | $7.25 million |
| Fanatics | $14.6 million | $1.22 million |
Both FanDuel and Fanatics achieved month-over-month revenue jumps.
Retail sports betting in Connecticut
By virtue of its partnership with the Connecticut Lottery, Fanatics is cashing in on the Connecticut retail sports betting action.
The XL Center only garnered $282,731 of June’s retail handle while the CT Lottery and Fanatics grabbed $6.44 million.
The latter has now hauled in $4.53 million in year-to-date revenue with the addition of the more than $624,000 it generated last month.