After the July revenues reached $35.6 million, the Connecticut online gambling market saw another significant jump. From $35.6 million, the revenues rose to $37.9 million. It’s a small number overall and a small rise compared to many other legal online gambling states, but this is a significant upgrade for a state the size of Connecticut.
This is seen in the fact that this month’s revenues are now the third highest in the state’s history. The second highest was in March 2024, at a whopping $44.3 million, a 28.1% rise from March 2023.
The all-time record was set in May 2024, when the state reported revenues of $46.3 million, an increase of 41.3% compared to May 2023.
As for August, the $37.9 million in revenues was a 51.5% increase compared to $28.2 million earned in the same month in 2023. This is one of the state’s largest year-over-year increases.
Breakdown in numbers for the state’s two casinos
For those unaware, Connecticut has only two licensed online casinos – DraftKings and FanDuel Casino. As per the state’s laws, the casinos are required to have land-based partners, and DraftKings’ partner is Foxwoods Resort Casino, while FanDuel’s is Mohegan Sun Casino. Technically, the FanDuel is Mohegan Sun Online Casino, powered by FanDuel software.
As is usually the case in Connecticut, DraftKings led the charge with $20.6 million in gross online casino gaming revenues for August. This was a sizable rise from the $19.1 million earned in July.
FanDuel earned $17.1 million in August, higher than the $16.2 million earned in July.
Naturally, the state has to take a cut, which is 18% in Connecticut. In other words, it earned almost $6.8 million in total, or around $3.7 million from DraftKings and around $3 million from FanDuel.
It’s worth noting that the state actually has two more gambling operators, but their revenues are negligible, which is why you’ll rarely see them counted. These two operators are the Mohegan Tribe On-Reservation and the Mashantucket Pequot Tribal Nation.
When did the market go live in Connecticut?
Connecticut is home to around 3.6 million people, according to 2023 estimates. A significant portion of that population is free to gamble in online casinos because the legal gambling age in the state is 21.
The legal online gambling market was introduced on May 27, 2021, when Governor Ned Lamont signed HB 6451 into law, making both online gambling and sports betting legal in Connecticut.
The market went live a couple of months later, on October 19, when DraftKings and FanDuel opened their virtual doors to players from the state. Since then, the market has remained largely unchanged but has been growing steadily.
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