Connecticut Sets New Revenue Record in November Sports Betting
Connecticut’s sports betting industry continues to thrive, with the state reporting a record high of $30.3 million in gross hold on a $228.2 million handle for the month of November. This marks a significant increase from the previous month’s revenue of $26.6 million. The $25.5 million in adjusted revenue is a 147% year-over-year increase and an all-time high for the Nutmeg State.
The state’s three online sportsbooks and two retail wagering sites contributed to the impressive numbers, with FanDuel leading the way with a record $13.1 million in gross revenue. DraftKings also performed well, generating $11.8 million in revenue. Overall, the three online sports betting operators accounted for $218 million of the total November handle.
In addition to the success of online sports betting, retail sportsbooks in Connecticut also saw positive results, with a combined revenue of $10.1 million in November. The Connecticut Lottery’s partnership with Fanatics accounted for a significant portion of the retail wagers, totaling $9.8 million. The XL Center also contributed to the revenue, generating over $62,000 on a more than $372,000 handle.
Overall, Connecticut’s sports betting industry is booming, with operators reporting a 13.3% hold on gross revenue and a record 11.2% win rate on adjusted revenue. The state’s coffers were filled with $3.5 million in revenue for the month, showcasing the growing popularity and success of sports betting in the Nutmeg State.
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