Connecticut legal online sports betting generated a handle of $174 million in April 2025. That’s a decline of 12.6% from nearly $200 million that sportsbooks produced in March 2024.
Key Takeaways
- The Connecticut online sports betting handle has dropped by 12.6% month-on-month to $174 million in April 2025
- All three sportsbooks saw sports betting handles decline month-on-month
- FanDuel Sportsbook bucks the trend with a significant improvement in month-on-month revenues
Three sportsbooks operate Connecticut online sports betting: DraftKings, FanDuel, and Fanatics.
FanDuel, which is partnered with the Mohegan Tribe, had the most significant handle in April 2025, seeing $76.6 million in bets, accounting for 44% of the state total. That was a decline of 11.6% from March 2025.
Meanwhile, the Mashantucket Pequot Tribal Nation partnered with DraftKings Sportsbook, which generated a sports betting handle of $65 million, a 13.2% drop.
Fanatics Sportsbook, the partner of the Connecticut Lottery, brought in $32.5 million, falling from $37.6 million the month prior.
Revenues paint positive picture amid handle drop
While Connecticut sportsbooks will be disappointed that the sports betting handle dropped in April, it’s hardly a surprise considering the drop-off in popular sports.
The majority of March Madness is played in April, while the NBA regular season is in full swing. The NBA playoffs start at the back end of April, reducing the number of NBA games for betting.
Therefore, it’s not surprising that the betting handle dropped month-on-month. Other states like Michigan, where the handle dropped from $487.1 million to $426.9 million, and New York, with a fall from $2.4 billion to $2.1 billion, experienced similar declines.
However, DraftKings and Fanatics' minor revenue declines will provide positives for operators, and FanDuel will be delighted to see an increase month-over-month in revenues.
FanDuel’s revenues increased from $5.2 million to $7.3 million despite a fall in sports betting handle. Meanwhile, DraftKings’ revenues declined from $5.2 million to $5.1 million despite bringing in almost $10 million less in handle.
The numbers for Fanatics' Connecticut online sports betting painted a similar picture, with its $2.1 million in April 2025 revenues only an 11.8% fall from the month prior.
Connecticut betting handle falls amid Kalshi investigation
The April 2025 sports betting handle figures will add more urgency to the current investigation from the Connecticut Department of Consumer Protection into Kalshi.
The federally regulated predictions market allows players to profit from sports and pop culture predictions, effectively eating into the market of regulated sportsbooks.
While there is no date for this investigation, CT sportsbooks will hope for a positive result to help protect market share and continue producing healthy revenue figures.
