The $163.6 million handle is a 49.6% year-over-year increase from May 2023’s wagering activity.
That’s the Connecticut sports betting market. Despite being one of the smallest states in the U.S., the Nutmeg State still touted a $1.762 billion handle in 2023. So far through 2024, sports betting in Connecticut is well ahead of that billion-dollar pace. a statewide betting handle of $163.6 million for May, which is a 49.6% year-over-year increase from May 2023. This puts the total Connecticut sports betting handle at $873.8 million year-to-date, which is a 24.
State coffers pocketed $1.97 million in tax income as well, which brings the year-to-date tax contribution from sports betting in Connecticut to more than $10.4 million. The small-but-mighty moniker applies to the amount of options bettors have in the Nutmeg State, too. There are only three online sportsbooks in Connecticut, but that trio churned $16.16 million in revenue from a $155.55 million total online handle in May thanks to a 10.39% hold.
Fanatics looks to be a couple of months away from breaking the $100 million YTD handle mark. It’s currently sitting at a little less than $75 million, potting $5.54 million in YTD revenue. There are just two operators of Connecticut retail sportsbooks that collected $8.1 million in bets in May and generated just north of $990,600 in revenue.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Famed Sports Agent Calls Sports Betting a 'Ticking Time Bomb'Leigh Steinberg pens opinion piece asking leagues to 'install stricter guidelines and stronger oversight to protect players.'
Read more »
Pennsylvania’s May Sports Betting Handle Rises 19% Year-Over-YearThe Keystone State saw an 8.3% drop in month-over-month action, but revenue rose 4.4% in May thanks to a 10.5% hold by operators.
Read more »
New Jersey Sports Betting Revenue Dips in MayFor May 2024, the Garden State saw profits fall 4.2% year-over-year and 26% month-over-month on a $838.9 million handle.
Read more »
Vermont Sports Betting Handle Hits New Low in MayThe Green Mountain State accepted $12.6 million in wagers last month, a 26% decline from April.
Read more »
New Jersey casino and sports betting revenue was nearly $510 million in May, up 8.3%New Jersey’s casinos, horse tracks that take sports bets and their online partners won nearly $510 million from gamblers in May, an increase of 8.3% from a year earlier. Figures released Friday by state gambling regulators show that New Jersey's internet gambling industry continued its strong performance with its second-best month ever.
Read more »
Kansas Sports Betting Handle Rises 43% Year-Over-Year in MayDespite sports betting action being down 10% from April in the Sunflower State, the year-over-year handle jumped significantly.
Read more »