Connecticut’s statewide sports betting handle was stagnant month-over-month, but saw a 12.9% reduction in sports betting win from July to August.
Combined retail and online sportsbook operations took handle of $91.3 million for August, down just 0.2% from July where $91.5 million was recorded. However, July’s 11.6% hold was superior to August’s 10.2% thus seeing an overall reduction in betting win for operators.
Connecticut online sports betting failed to grow month-over-month, with wagers taken down 0.8% month from $85.6 million in July to $84.9 million in August. Handle was however up 16.3% year-over-year, rising from $73.0 million in August 2022. Online operators took 93.0% of wagers in August, down slightly from the 93.5% share in July.
Despite an increase in year-over-year wagers taken, CN online wagering experienced a fall in operator win when comparing both monthly and yearly. Win fell 14.1% to $8.4 million from $9.7 million in July. It was also an 8.1% reduction from the $9.1 million recorded in August 2022.
Retail handle experienced the inverse of online, with a month-over-month handle increase of 7.8% from $5.9 million to $6.4 million but a year-over-year decrease of 8.7% from $7.0 million. Operator win stayed constant month-over-month, while year-over-year it decreased 10.7% from $1.0 million to $890,367.
Connecticut online casino exhibited strong growth in August. Win by online casino operators was up 10.6% month-over-month, increasing to $31.2 million in August from $28.2 million in July. It was also a 41.2% rise year-over-year, up from $22.1 million in 2022.
As a state Connecticut does not have any NFL team and as such may not experience as large a wagering uptick as other states in September given the resumption of the National Football League. Undoubtedly though, the lack of premium US sports betting fixtures over the summer has impacted the entire industry, and next month’s revenue report is bound to give a much stronger indication of the state-of-play in US sports betting.