Connecticut Gambling Industry revenue shatters Oct records

October 2023 Heralds a New Era for Connecticut’s Gambling Industry as Online Gaming and Sports Betting Reach Record-Breaking Heights

The Connecticut State Department for Consumer Protection’s latest monthly revenue report reveals a remarkable surge in online gambling activity. With operators generating a staggering $46.2 million in total revenue during October 2023. This figure represents a significant 34.7% increase year-on-year and a 5.2% increase compared to the previous month. Maintaining and highlighting the industry’s continued growth trajectory.

Online casino gaming contributed significantly to the overall revenue. Generating $31.1 million for October, an increase of 2.6% against the $30.3 million reported in September. This upward trend is further supported by the growth in total wagers, which reached $1.14 billion in October. A slight increase from the $1.12 billion reported in September.

DraftKings, in partnership with the Mashantucket Pequot Reservation, remains Connecticut’s online gaming market leader. Generating $18.7 million in revenue from $688.3 million in wagers. FanDuel and Mohegan Sun follow closely behind, generating $12.3 million in revenue from $458.8 million in wagers.

These impressive results underscore the success of Connecticut’s regulated online gambling market. Which has attracted a growing number of players seeking a diverse range of casino games and sports betting options. The industry’s commitment to innovation, coupled with the state’s strong regulatory framework. Placed Connecticut as a frontrunner in the rapidly evolving online gambling landscape.

FanDuel and Mohegan Emerge as Frontrunners in Connecticut’s Gambling Industry

The Connecticut sports betting market experienced a remarkable surge in October 2023. With operators reporting a staggering $189.6 million in wagers, a significant 15.5% increase from the previous year. This impressive growth is largely attributed to the popularity of online sportsbooks. Which handled $177.1 million, or 93.7%, of the total wagers.

FanDuel and Mohegan emerged as the market leader, collectively generating $7.6 million in revenue. Closely followed by DraftKings and Mashantucket, with $6.3 million. This strong performance propelled Connecticut’s sportsbooks to an all-time high. Record-breaking revenues of $16.3 million in October, marking a remarkable 29.3% increase from the same period last year. Notably, online sports betting revenues alone reached just over $15.0 million, setting another state record.

The surge in sports betting activity also generated a substantial $2.2 million in state taxes. The highest since the inception of Connecticut sports betting in October 2021. This significant contribution highlights the growing trend and the positive impact of sports betting on the state’s economy.