Connecticut Online Gaming and Sports Betting Bounce Upward in March
March Madness didn’t last long for the Connecticut men’s basketball team, with the Huskies being upset in the first round of the NCAA Basketball Tournament by No. 12 seed New Mexico State on March 17.
But March still had a bit of magic for Connecticut gaming.
The Connecticut online gaming market grew by more than 10% in March compared to February and the state’s sports betting handle increased even more, by more than 20%.
Here are three takeaways from March in Connecticut.
Online Gaming Continues Upward Trend
March was the best month yet for iGaming in the state, according to numbers reported by the Connecticut State Department of Consumer Protection.
March online casino handle was $820,907,308, up 10.4% compared to the $743.9 million in handle for February.
That March total also bettered the $814.8 million recorded in December, the previous high mark.
The Mashantucket Pequot online license (MPI Master Wagering) set its new monthly high with $537.9 million in handle last month.
The online casino total taxable gaming revenue was up 6.9% in a month-over-month comparison, rising from $17,138,741 in February to $18,319,714 in March. The state revenue share was $3,297,724 in March.
Sports Betting Handle, Revenue Bounce Back
The total sports betting handle in March was $140,747,137, up 21.7% from February, when it was $115,619,953. Of that total, $131.9 million was wagered online last month, or 93.7%. The handle did not quite reach the highs of December and January ($150 million and $158 million, respectively) but March still represented a nice rebound from the previous month.
The total taxable gaming revenue from sports betting was $7,545,967 in March ($6,718,358 online, $827,609 retail), more than double February’s $3,647,385. The March state revenue share was $1,037,570.
Connecticut Sports Betting, March vs. February
|Total handle||Mobile handle||Revenue|
|Change||Up 21.7%||Up 21.3%||Up 106.9%|
Those sports betting figures surely got a boost from the popular and successful Connecticut Huskies women’s basketball team.
Unlike their men’s counterparts, UConn made a deep run during March Madness, reaching the NCAA Tournament final before losing 64-49 to South Carolina on April 3. UConn was looking to extend its record of 11 women’s basketball national championships; in fact, the loss to the Gamecocks was the first in an NCAA final for coach Geno Auriemma in 12 tries.
Since mobile sports betting launched in the state last fall, more than $750 million has been wagered in Connecticut.
Connecticut Gaming Market Keeps Growing
Connecticut is one of a small number of states to offer real money online gaming. When it launched last year, it joined New Jersey, Delaware, Michigan, Pennsylvania and West Virginia.
And the market in Connecticut continues to progress.
In early March, Inspired Gaming announced that it would introduce its online gaming products in the state via a deal with DraftKings Casino.
And in February, FanDuel opened its permanent sportsbook at the Mohegan Sun Casino in Uncasville.