Online casino

Connecticut online casino revenue edged up in April as sports betting plummets

Online casinos in Connecticut saw a slight increase in April compared to March, the best news for the state in a month when numbers for iGaming and sports betting have also declined.

Connecticut launched real-money online casinos in October 2021, as well as mobile and retail sportsbooks.

Here are three takeaways from the April game in Connecticut.

Online gaming revenues are stable

The online gaming industry in general is much less volatile than sports betting, which rises and falls in each market on a monthly basis depending on the sports taking place.

This is reflected in numbers reported by the Connecticut State Department of Consumer Protection.

Total April taxable gaming revenue for iGaming in the Nutmeg State was $18,467,342, an increase of 0.8% from the $18,319,714 reported in March. The share of state revenue rose by the same percentage, from $3,297,724 in March to $3,324,122 last month.

This came despite the handle dropping 7.4% from $820.9 million in March to $760.56 million in April.

Typical sports betting decline for April

A pattern has repeated itself not just among longtime Nevada sports betting bettors, but in the more than 30 states that have made sports betting legal and regulated in the past four years: once March Madness fades , bets too.

This trend continued in Connecticut.

Connecticut Sports Betting, April vs March

Full handle Movable handle Revenue
April $116.465 million $109.441 million $7.187 million
March $140.747 million $131.944 million $7.546 million
Switch Down 17.3% Down 17.1% Down 4.8%

With the NFL in its off-season lull and the NCAA Basketball Tournament offering only Final Four games in April – a popular event for sure, but with game volume nowhere near the same as the early ones tournament rounds – the drop in the month’s handle is not a surprise.

April’s sports betting total was $116,465,199, down 17.3% from March’s $140,747,137. Mobile betting in Connecticut fell by an almost identical amount, dropping 17.1% from $131.9 million in March to $109.44 million in April.

The retail sports betting handle last month was $7,024,573, down 20.2% from $8,802,856 in March.

The revenue and tax share decreased 4.8% month-over-month. Taxable sports betting income was $7.19 million and the state’s share was $988,263 in April.

Connecticut iGaming Expansion

The state added a new iGaming option in Q1 2022 as Inspired Gaming partnered with DraftKings to bring its gaming products online.

Connecticut is one of six states offering online gambling, along with Delaware, West Virginia, Pennsylvania, New Jersey and Michigan. These states as well as Nevada have also legalized online poker.