Connecticut sports betting handle drops to $78.3m in July

Sportsbooks reported a combined $7.7m in betting revenue for July.
Sportsbooks reported a combined $7.7m in betting revenue for July.

According to the Department of Consumer Protection, the sports betting handle was down 18 per cent month-on-month.

US.- The Connecticut Department of Consumer Protection has reported that players in the state wagered $78.3m on sports in July. That’s an 18 per cent decrease compared to June’s $95.4m. The only month with a lower handle was October of 2021, when legal sports betting first launched in Connecticut.

Posting a mobile betting handle of $32.7m, DraftKings led the market in July ahead of FanDuel’s $30.2m. PlaySugarHouse, which is operated by the Connecticut Lottery, had a monthly online sports wagering handle of $10m. DraftKings also led the way in gross revenue with nearly $3.3m.

Connecticut sportsbooks won about $7.7m in July, a hold of about 9.8 per cent. Both figures beat June’s $6.4m in revenue and 6.7 per cent win rate. The state received $860,000 worth of tax revenue from mobile and retail sportsbooks through its 13.75 per cent tax.

Last month, the state’s lifetime betting handle reached $1.08bn, making Connecticut the 18th state to pass the $1bn mark.

See also: Evolution launches its new Connecticut live casino studio

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Connecticut sports betting