Sports Betting Handle Stays Unchanged in Connecticut For August as Revenue Drops

Connecticut sportsbooks saw revenue dip in August while sports betting handle remained largely unchanged month over month. FanDuel re-emerged as the top online sportsbook with DraftKings just behind in second place.

Last Updated: Sep 19, 2023 8:45 AM ET Read Time: 4 min
Connecticut Huskies NCAA College Football
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For most legal sports betting states, July is one of the worst months for action, while August sees an uptick for the upcoming football season. But that was not the case in Connecticut as last month’s numbers did not improve.

The Connecticut Department of Consumer Protection reported an August handle of $91.2 million. In the past three months, the Nutmeg State has seen its wagers largely unchanged. June’s handle was $91.4 million and July’s was $91.5 million.

The state’s brick-and-mortar betting market improved from July’s all-time low of $5.9 million in wagers, but August’s $6.4 million is now the state’s second-worst reported handle on the retail side.

To make matters worse, bettors improved on their luck in August, which hurt sportsbook revenue and, as an extension, the state's tax bill. Connecticut’s sportsbooks, both online and retail, announced roughly $8.9 million in unadjusted revenue, well short of July’s $10.3 million. A hold of 9.7%.

The state’s tax haul was slightly above $1 million, while July’s tax hit $1.2 million. DraftKings contributed the most in taxes ($406,000), which is the first time this year that they beat rival FanDuel ($400,000) in revenue. Retail revenue was unchanged despite the uptick in action. 

FanDuel back on top

After DraftKings led the state in handle in July, FanDuel narrowly returned as the most popular operator. FanDuel saw $37.6 million in wagers versus DraftKings’ $37.1 million. FanDuel also led the way in revenue, although their tax bill ended up lower after promotional credits

SugarHouse was again a distant third in both categories after reporting $10.1 million in wagers and $100,000 in payments to the state.  

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