Connecticut Sports Betting Sees Record Handle in December, but Revenues Take a Hit
Connecticut’s online sports betting market closed out in December with mixed results. While the total handle hit a record $232.9 million, up 6.83% from November, gross gaming revenue (GGR) dived.

Operators reported $11.4 million in GGR, reflecting a steep 52.35% drop compared to the previous month. The overall hold rate for December came in at 6.02%, well below November’s 13%, as bettors enjoyed a winning month.
How Did Operators Perform?
Connecticut’s three sportsbooks—DraftKings, FanDuel, and Fanatics Sportsbook—all saw higher betting activity, but revenues told a different story due to the lower hold rates:
DraftKings:
- Handle: $90.4 million (down 1% from November).
- Revenue: $4.13 million, a 58% decrease.
- Hold: 5.62%, down sharply from November’s 13%
FanDuel:
- Handle: $107.8 million (up 9.5%).
- Revenue: $5.47 million, a 50% drop.
- Hold: 6.22%, compared to about 13% in November.
Fanatics Sportsbook:
- Handle: $34.7 million (up 22%).
- Revenue: $1.83 million, a 43% decline.
- Hold: 6.45%, down from November’s 13.5%.
Why the Revenue Drop?
December’s lower revenues weren’t unique to Connecticut—it was part of a broader trend across the U.S. sportsbooks. Bettors had a great month, thanks largely to NFL and college basketball favorites delivering predictable wins, which meant bigger payouts for players and smaller profits for operators.
On top of that, the average hold rate dropped significantly across the board. December’s 6.02% hold rate in Connecticut was a stark contrast to the healthier 13% seen in November, making it a tough month for sportsbooks even with a higher handle.
A Growing Market with Challenges
Despite the revenue dip, the increase in total wagers shows that Connecticut’s sports betting market is thriving. Players wagered over $232 million in December, with Fanatics Sportsbook seeing the largest month-over-month growth at over 22%. These highlight the market’s steady growth and player engagement.
However, the revenue drop shows the unpredictable nature of sports betting, where even strong player participation doesn’t always translate into profits for operators.
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