The start of the 2024 football season produced the best sports betting month in Connecticut's history.
The Connecticut Department of Consumer Protection reported that online and retail sportsbooks generated a record handle of $214.4 million in September, besting December 2023’s $212 million and closing in on $1.5 billion year-to-date. The amount wagered in September increased 18.4% year-over-year.
Operators also set an all-time mark with gross revenue of $26.6 million, up 45% from September 2023 and about $1.7 million more than the previous high set in January. The adjusted revenue of $22.3 million was also the best in Connecticut’s history.
September’s profits came from an impressive 12.4% hold, up two points year-over-year. Connecticut operators have enjoyed double-digit win rates in six out of the last 10 months.
With the NFL and college football overlapping with the final month of the MLB regular season, action jumped 65.9% month-over-month while gross revenue rose 94.7% from August.
The Nutmeg State filled its coffers with $3.1 million, pushing the 2024 tax revenue total over $18 million.
FanDuel sets new record
| Operator | September Handle | Revenue |
|---|---|---|
| DraftKings | $90.8 million | $10.3 million |
| FanDuel | $81.2 million | $11.7 million |
| Fanatics Sportsbook | $32.9 million | $3.3 million |
The three online Connecticut sports betting operators accounted for 95.5% of the total handle, reaching $204.9 million and producing $25.4 million in revenue.
That was helped greatly by FanDuel, which finished second with an $81.2 million handle but set a new state record by a single online operator with $11.7 million in revenue, thanks to a 14.5% hold.
DraftKings generated the top handle with $90.8 million, and an 11.3% hold led to $10.3 million in revenue, a new monthly high for the operator and up 113% from the $4.8 million collected in August.
Fanatics Sportsbook produced its best month in the Nutmeg State since launching late last year, reporting a September handle of $32.9 million with revenue of $3.3 million.
Brick-and-mortar action increases
Retail sportsbooks combined to generate $9.5 million in wagers during September. A robust 13% hold led to $1.2 million in revenue.
The Connecticut Lottery hauled in $1.2 million in revenue on a $9.1 million handle, up 60% month-over-month. The XL Center brought in $462,267 in wagers, which led to $66,255 in revenue from a 14.4% hold.
