Connecticut Exceeds $1 Billion in Casino Revenue; Sports Betting Dips
The first full year for Connecticut online casinos ended in record fashion.
Connecticut saw a month-to-month increase in online casino handle and revenue for December, setting a new landmark and surpassing $1 billion in a month for the first time.
Meanwhile, there were slight declines across-the-board month-to-month in sports wagering in the state.
Billion-Dollar Barrier Broken in Connecticut
For December, online casino handle, including mobile slots real money options, was about $1.003 billion, up 11.0% from November ($903.75 million).
The last month of 2022 saw Connecticut join the ranks of states recording more than $1 billion in a month for online gaming. Connecticut launched mobile sports betting and iGaming in October 2021.
December’s online casino total taxable gaming revenue was $22.68 million, up 4% from November ($21.82 million) in money derived from options such as online blackjack and other card games, plus online roulette and slots.
Connecticut’s state revenue share from online casino in December was $4.089 million, up 4.1% from November ($3.927 million).
The Constitution State is one of six markets offering the best online casino options. The others are West Virginia, New Jersey, Pennsylvania, Delaware and Michigan. Those states all have made online poker legal, as has Nevada.
Sports Betting in Connecticut Down But Still Steady
Regarding sports betting, the December total sports betting handle in Connecticut was almost $160.27 million, down 2.9% from November (nearly $165.03 million).
The Connecticut November sports betting revenue report was good news for the state as a record $165 million was wagered. That broke the mark of $164.17 million set in October. So though December ended a string of consecutive record month, the state still exceeded $160 million in sports betting handle for the third straight month.
The portion of the handle bet at mobile gambling apps was $149.73 million, down 3.1% from November ($154.45 million). December’s retail sports betting handle was almost $10.54 million, down slightly, 0.3%, from November ($10.57 million).
Total taxable gaming revenue from sports betting was about $12.63 million last month ($11.63 million from online, $994,889 from retail), which was down 10.6% from November ($14,126,454). Connecticut’s revenue share was $1,736,006 (almost $1.6 million from online, $136,797 from retail), down 10.6% from November ($1,942,387).
During the calendar year just concluded, Connecticut recorded about $1.52 billion in handle, with the vast majority (about $1.42 billion) coming from mobile sports betting options. The state garnered $105,637,048 in revenue from wagering on sports.
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