Connecticut Sports Betting Handle and Revenue Fall in February
Sure, the Super Bowl is a gigantic betting day. But that’s the only football game of the month (even the Pro Bowl has stopped pretending to be a real game) plus February only has 28 days, so it’s normal for handle to drop off from January levels.
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Connecticut Betting Handle at $136.5 Million
The handle, or amount wagered, at Connecticut sportsbooks for February was $136,508,300, down 18.6% from January’s total of $167.67 million.
Of that total, as always, the vast majority (93.9%) of bets were placed online at sports betting apps in the Constitution State. The mobile sports betting handle fell 17.8% in a month-over-month comparison, from about $156 million in January to $128.2 million last month. The retail sportsbook wagers fell 28.6%, from just over $11.6 million to about $8.3 million.
The taxable gaming revenue was $8,550,500 in February, with $7.94 million of that coming from online sportsbooks. That was down 38.7% from January ($13.96 million). The state revenue share fell by the same percentage, from about $1.92 million to $1.18 million.
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Connecticut Sports Betting, February vs. January
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Sports betting Breakdown in Connecticut
Connecticut has three online operators, but two dominate.
The Mashantucket Pequot Tribe, partnered with DraftKings Sportsbook, just barely led the state in sports betting handle for the month at nearly $57.69 million. The Mohegan Tribe (FanDuel) accounted for $57.18 million.
But in revenue, the Mohegan, connected to the Mohegan Sun Casino in Montville, was tops in Connecticut sportsbook revenue for February at $4.85 million, with the Foxwoods Resort Casino in Ledyard (associated with the Mashantucket Pequot Tribe) bringing in almost $2.59 million.
The third online entity in the state is the Connecticut Lottery, which uses the PlaySugarHouse app that is run by the BetRivers Sportsbook. That operator brought in $504,256 in revenue from $13.35 million in handle.
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March Should See Increase
The sports betting landscape in Connecticut should see improvement in March thanks to the NCAA Basketball Tournament.
The University of Connecticut is the rare school to have an outstanding history in both men’s and women’s basketball (an even rarer athletic program to do so without also being a football power).
The Huskies have won four men’s NCAA national championships, tied for sixth all-time. The UConn women, led by legendary coach Geno Auriemma, own the record with 11 national titles.
So it’s little wonder UConn hoops draws big fan interest and wagering action.
The women’s team, seeded second in the Seattle 3 Region, opens its bid for an even dozen national championships Saturday with a first-round matchup against No. 15 seed Vermont (3 p.m. Eastern, ABC). The Huskies are +1200 at FanDuel Sportsbook to win it all, tied for second on the odds board (along with Indiana and Stanford) behind the defending national champion and prohibitive favorite, South Carolina (-210).
On the men’s side, Connecticut is at +2000 with FanDuel to win the national title, tied for ninth-best odds with Big East rival Marquette. The Huskies are seeded fourth in the West Region and are 9.5-point favorites at FanDuel for their first-round game against No. 13 seed Iona on Friday (4:30 p.m., TBS).
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Connecticut Online Casino Mixed
The online casino handle in February was $945,353,517 in the Constitution State, up 2.2% from January ($924,595,284).
However, revenue fell 3.8%, from $24.18 million in January to $23.275 million last month. The state revenue share was $4,190,084, a 3.7% drop from January ($4,352,814).
