Connecticut betting and igaming revenue reaches $25.0m in MarchPublish Date:2022/4/22 0:31
Connecticut's betting and igaming market reported month-on-month revenue growth in March.
Gross gaming revenue for the market reached $25.0m (£19.1m/€23.0m) in March a 45.4% rise from $17.2m posted in February. Year-on-year comparisons are not yet available, as legal online gambling did not launch until October of last year.
Gross gaming revenue (GGR) in Connecticut is calculated after promotions are deducted. Before these deductions, revenue came to $30.1m, a month-on-month rise of 39.4%.
Online casino was the main draw for consumers in the state, with players wagering $568.3m with FanDuel and DraftKings. Before deductions from promotions, revenue totalled $22.6m, falling to GGR of $18.6m after bonuses and free bets were taken out.
The Mashantucket Pequot Tribal Nation, which operates Foxwoods Casino and is partnered with DraftKings for online betting and gaming, retained top spot in the market with $10.2m in online casino revenue after promotional deductions.
Consumers wagered $540.3m via Foxwoods and DraftKings, though $32.2m of this sum was credited as promotional bets.
The Mohegan Tribe, which operates Mohegan Sun and is partnered with FanDuel, posted igaming revenue of $8.1m, having processed $271.6m in online casino wagers. A total of $903,992 in promotional coupons and credits were recorded for the month.
Turning to sports betting, combined revenue from online and retail GGR for the month was $7.5m after promotional deductions. Prior to deductions, sports wagering revenue was $9.8m, while total handle for March was $140.7m.
Online sports betting GGR after promotions was $6.7m, while for the retail market, which did not have any promotional offers, GGR reached $827,609.
Mohegan Sun and FanDuel claimed first place in the online betting vertical, posting $3.5m in GGR after promotional deductions. This was ahead of the Foxwoods-DraftKings on $2.5m and the Connecticut Lottery, partnered with Rush Street Interactive, with $717,667.
In terms of player spending, DraftKings and Foxwoods processed $61.5m in total bets for the month, with $829,706 credited as promotional bets. Players staked $56.3m in wagers via Mohegan Sun and FanDuel, $1.2m of which were promotional credits, and the CT Lottery $13.2m, with $307,246 noted as promotional.
The CT Lottery’s retail betting operation processed $8.8m in bets for March, and posted $827,609 in GGR for the month.