Connecticut Sets New Record for Internet Casino Revenue in May

This represents a 41.3% increase compared to the $32.8 million reported in May 2023. It marks the sixth consecutive month where revenue has exceeded $40 million, continuing a positive growth trend in the state’s iGaming industry.

Betting Handle Achieves New Heights

In addition to the revenue record, the betting handle also reached an all-time high of $1.37 billion, maintaining a streak of nine consecutive months with over a billion dollars in wagers. Year-to-date, the betting handle totals $6.58 billion, reflecting a 32.4% increase from the previous year.

The impressive performance of Connecticut’s internet casino industry generated $7.1 million in taxes for the month. So far this year, local licensees have contributed $33.3 million in taxes, significantly surpassing the $23.1 million collected during the same period last year.

Dominance of FanDuel and DraftKings

FanDuel and DraftKings continued to dominate the Connecticut market. FanDuel reported a record handle of $617.2 million, up 44.8% year-on-year, driven by increased marketing and promotional efforts.

This handle translated into $20.8 million in gross revenue, marking a 43.9% year-on-year increase and just shy of its record $21.4 million set in March 2024.

DraftKings posted a handle of $753 million, a 28.5% year-on-year increase. Despite strong promotional spending, DraftKings’ promotions were slightly less effective than FanDuel’s.

Nevertheless, DraftKings achieved $25.4 million in revenue, maintaining a streak of nine consecutive months with over $20 million in revenue and nearly breaking its own revenue record.