Connecticut Sports Betting Revenue
Online sports betting started in Connecticut on Oct. 19th, 2021. In-person sports betting commenced on Sep. 30
This page tracks and projects the Connecticut sports-betting revenue.
Connecticut Sports Betting Revenue: Month-by-Month Data
The table below will display official figures reported by the state government.
|Month/Year||Betting Handle||Revenue||Hold Percentage||State Tax Revenue|
|Total (since launch)||$186,370,653||$21,558,376||11.6%||$1,709,722|
CT Market Overview
State Population (2020 Census): 3,605,944
Regulator: Department of Consumer Protection
Platforms: Online and retail
Tax Rate: 13.75% on sports betting and fantasy sports; 18% on online casino gambling
The industry is growing and the operators are becoming more efficient and more aggressive.
Connecticut Sports Betting Revenue Expectations
PlayCT projections have the betting handle in the state growing to over $1.5 billion annually and the state bringing in well over $100 million in annual revenue by the third year of operations.
If that’s the case, the annual state tax revenue will grow to about $14 million by 2024.
Connecticut Revenue Challenges
One of the main challenges compared to other states is the relatively small number of licenses available. Connecticut has 15 retail sports-betting locations and only three online operators (DraftKings, FanDuel, and SugarHouse). By comparison, Maryland is offering up nearly 40 retail licenses and 60 online licenses.
That said, DraftKings and FanDuel are industry giants. Anyone looking to place an online wager in the state of Connecticut will find it pretty easy to do so.
Connecticut Revenue Advantages
Connecticut has the distinct advantage of being right next to Massachusetts and Rhode Island (populations of 6.84 million and 1.06 million, respectively), which do not currently offer legal sports betting. Anyone in Boston or Providence looking to make a legal sports bet can drive to Hartford in well under two hours.
Local Pro Teams to Bet On
|Hartford Wolf Pack||Hockey||AHL|
|Hartford Yard Goats||Baseball||AA Eastern League|
More About Connecticut Sports Betting
To learn more about the history and current status of sports betting in the Constitution State, check out SBD’s main Connecticut sports betting page.
The state-by-state sports betting revenue tracker displays up-to-date data for all states that currently offer legal sports betting.