The Connecticut State Department for Consumer Protection has released its latest monthly revenue report from showing that online gambling operators reported combined revenues of $42.4 million for the month of November.
The latest figures represent a decrease of 8.2% compared to the $46.2 million reported in the month of October.
Online Casino Gaming
Online casino gaming revenues came to $32.7 million for November, an increase of 5.2% against the $31.1 million reported in the previous month. Wagers for the month totaled $1.2 billion, up from the $1.14 billion reported in October.
The Mashantucket Pequot Tribe and its online partner DraftKings were the market leaders for the month of November generating $19.4 million in revenue from $755.8 million in wagers. Mohegan Sun and its partner FanDuel followed with just over $13 million in revenue from $467.7 million in wagers.
State taxes from online casino gaming for the month of October came to $5.8 million.
Another Record Month for Sports Betting
Sports betting operators reported taking in over $205.7 million in wagers during November, an 8.5% increase compared to the previous month and a year-on-year increase of 24.6%. Of this figure, $192.5 million came through online sportsbooks. Both figures are all-time Connecticut sports betting records breaking the previous records which were set in October.
Despite a record breaking handle, retail and mobile sportsbooks combined to generate just $10.29 million in revenues during the month of November. This marked a 36.8% decrease from the previous month and a 27% drop year-on-year. Online sports betting revenues came to just over $9.7 million.
State taxes from sports betting came to $1.4 million.
Year-to-Date Sports Handle, Revenues & Taxes in Connecticut
| Period | Total Handle | Sportsbook Revenue | Win % | Adjusted Win | Adjusted Win % | State Taxes |
|---|---|---|---|---|---|---|
| Jan 2023 | $167,673,044 | $17,562,322 | 10.47% | $13,958,469 | 8.32% | $1,919,290 |
| Feb 2023 | $136,508,300 | $10,866,536 | 7.96% | $8,550,500 | 6.26% | $1,175,694 |
| Mar 2023 | $159,997,579 | $16,509,118 | 10.32% | $13,496,875 | 8.44% | $1,855,821 |
| Apr 2023 | $126,683,869 | $13,146,672 | 10.38% | $10,608,950 | 8.37% | $1,458,730 |
| May 2023 | $109,421,369 | $14,926,294 | 13.64% | $11,966,495 | 10.94% | $1,645,394 |
| Jun 2023 | $91,414,677 | $8,879,045 | 9.71% | $6,993,293 | 7.65% | $961,577 |
| Jul 2023 | $91,512,897 | $10,624,363 | 11.61% | $8,838,636 | 9.66% | $1,215,353 |
| Aug 2023 | $91,316,807 | $9,251,937 | 10.13% | $7,470,338 | 8.18% | $1,027,171 |
| Sep 2023 | $180,954,946 | $18,784,334 | 10.38% | $14,899,707 | 8.23% | $2,048,710 |
| Oct 2023 | $189,626,160 | $18,969,777 | 10.00% | $16,313,761 | 8.60% | $2,243,142 |
| Nov 2023 | $205,736,989 | $11,479,571 | 5.57% | $10,299,870 | 5.00% | $1,416,233 |
| Totals | $1,550,846,637 | $150,999,969 | 10.02% | 11217899.45% | 8.15% | $16,967,115 |
Ciaran has been working within the Gambling Industry as a deep analyst since 2019. His deep knowledge and understanding of all the gambling regulations, and processes makes him a true asset, and an always valuable point of view for Gambling Industry News, allowing us to cover every topics from a brand new perspective.