Connecticut sports betting handle up in March

After suffering a heavy blow in February, Connecticut’s sports betting handle was back up last month thanks to March Madness. Bettors in the state wagered $140.7 million on sports through March, an increase of 21.7% from the $115.6 million handled in February.

Of the total amount wagered through the month, $131.9 million came from online customers, up by 21.2% from $108.8 million in February. The amount wagered through mobile sportsbooks represents 93.7% of the total handle for March. The retail sector reported $8.8 million in handle for the month, an increase of 29.4% from the $6.8 million posted in February.

The report published by the Department of Consumer Protection also shows that the three operators licensed to offer legal sports betting in Connecticut combined to post $7.5 million in gross revenue during the month of March. Compared to February’s $3.6 million, the hold for March was up by 108.3% month-on-month.

Online licensees reported $6.7 million in gross wins for the month, while the retail sportsbooks owned by the state Lottery generated $827,609 in taxable revenue.

The tax revenue generated by the industry also saw a massive increase in March as Connecticut received $1.03 million in payments from operators for the month, up from $501,516 in February. Online sportsbooks contributed $923,774 to the state coffers, with the retail sector generating $113,796.

DraftKings tops online handle as FanDuel leads in revenue

Just like in previous months, DraftKings was the sportsbook of choice for the majority of Connecticuters during the month of March. The operator reported $61.5 million in mobile handle for the month, up from $48.9 million in February. The sportsbook’s taxable revenue was $2.5 million, up from $2.3 million in February.

FanDuel Sportsbook came a close second after handling $56.3 million worth of sports wagers during the month, an increase of 19.0% from February’s $47.3 million. When it comes to revenue, however, FanDuel was the market leader in the state after reporting $3.5 million in gross wins for the month.

PlaySugarHouse had the third-highest sports betting handle at $22.9 million. The operator’s total betting handle for February was $19.5 million, indicating an increase of 17.4% month-on-month. The licensee’s online app accounted for the lion’s share of the total handle for March at $14.1 million, as retail customers wagered $8.8 million.

Connecticut has three licensed sportsbooks. DraftKings operates in the state through a partnership with the Mashantucket Pequot Tribal Nation, which owns Foxwoods Resort Casino in Ledyard. FanDuel and PlaySugarhouse are licensed under the Mohegan Tribe and state Lottery, respectively.

iGaming handle tops $800m

Connecticut’s online casino handle also saw a month-on-month increase in March.

The state’s internet gaming sector reported $820.9 million in handle for the month, up from $743.9 million in February.

DraftKings was the top operator in the sector with $537.9 million in wagers and $10.2 million in gross wins. FanDuel reported $280.6 million in wagers and a hold of $8.1 million.

Online gaming generated $3.3 million in tax revenue for the state during the month of March, up from $3.1 million in February.

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