Connecticut Sees Slight Dip to Handle, Revenue from Sports Betting in December

The Constitution State saw a slight decrease in monthly legal sports betting handle and revenue — in large part to a decline in FanDuel's monthly gross gaming revenue.

Jared Hochman - Content Operations Manager at Covers.com
Jared Hochman • Content Manager
Jan 19, 2023 • 12:52 ET • 4 min read
Donovan Clingan UConn Huskies college basketball
Photo By - USA TODAY Sports

Recent figures released by the Connecticut Department of Consumer Protection have shown that legal sports betting action for December was a little below the month prior... but still one of the most profitable months all year.

The state's three regulated operators took in just $160.3 million in wagers for December — a 2.8% decrease from November's handle of $165 million.

The three retail and online sports betting sites led to $12.6 million in revenue, which is slightly down from the $14.1 million in November, with the 7.8% hold also marginally down from the prior month's win rate (8.5%).

While the gross gaming revenue for retail betting was virtually the same, the loss in Connecticut sports betting comes from a dip in online betting — which still accounted for 93.4% of handle and 92% of GGR — resulted in $1.7 million worth of taxes paid to the state's general fund.

FanDuel sees dip in revenue

The Connecticut betting scene is still a three-horse race, with FanDuel and DraftKings battling for supremacy — and then SugarHouse (despite being the sole retail operator in the state) lagging well behind, but while FanDuel's numbers were better... the MoM changes weren't as pleasant.

New York-based FanDuel still had a slightly higher handle ($68.6 million vs. $67.8 million) and more GGR ($6.5 million vs. $4.3 million) than the Boston-based DraftKings, but while DK's numbers were comparatively close to November, FD's revenue was almost $1 million lower than last month — an 11% decline. 

SugarHouse's combined handle was $23.8 million in online and retail wagers, with just under $1.9 million in total GGR.

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Jared Hochman Content Operations Manager at Covers.com
Content Manager

Before Jared Hochman joined the Covers team in 2020, he worked for newspaper outlets such as the Chronicle Herald and The Coast, worked in marketing for SkipTheDishes and Vivid Seats, and previously ran a magazine. A journalism graduate from the University of King's College in, Halifax, N.S., "Hoch" brings more than a decade of experience in sports betting, having worked as a freelance handicapper, making appearances on Monumental Sports Network and the Sharp 600 podcast, and now also filling in occasionally as host of Covers' NHL Puck Props. 

Awarded Covers' company MVP for 2023, Jared is an avid bettor of MLB, NFL, NHL, and NBA, while also wagering on some soccer and WNBA. His best advice for sports bettors? Price shop, which is something he does daily across 10 different sportsbook apps.

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