CONNECTICUT POSTS A STRONG START TO LEGAL SPORTS BETTING

Dave Schwab Sports Betting Expert

3 minute read

CONNECTICUT CONTINUES ITS FAST START WITH LEGAL SPORTS BETTING

One of the newest markets for legal sports betting in the US is the state of Connecticut. Retail sportsbooks in Mohegan Sun and Foxwoods Resort Casino first went live on Sept. 30. Legal online betting through mobile sportsbook apps was up and running later in October. November was the first full month for legal sports betting in the state and the numbers were impressive to say the least.

After posting $56.6 million in betting volume in October, in-state sportsbook operators took in $131.7 million in sports bets in the month of November. Online wagers through mobile sports betting apps led the way with a $127.6 million betting handle.

These results make Connecticut one of the biggest mobile markets in the US on a percentage basis. The average monthly mobile handle in states with legal online sports betting accounts for around 90% of the total. In Connecticut, November’s mobile handle reached almost 97%. Tennessee and Virginia are the two states in the US that only offer legal online sports betting in the absence of land-based casinos. Mohegan Sun and Foxwoods are the only two casinos in Connecticut.

FanDuel has a mobile wagering alliance with Mohegan Sun and DraftKings is partnered with Foxwoods. The third sportsbook operator in the state is PlaySugarHouse through a partnership with the Connecticut Lottery Corporation. These are the only three licensed mobile operators in Connecticut.

As compared to other Northeast states with legal sports betting, Connecticut has a favorable tax rate of 13.75% on sports betting revenue. DraftKings gives 51% of its revenue to the state for its monopoly in New Hampshire. Operators in New York will also pay 51% when that state’s mobile sports betting industry goes live. Across the nation, the average tax rate for states offering legal sports betting in some form is just 11%.

While legal mobile sports betting will remain limited to those three operators, Connecticut law does allow for the expansion of retail sports betting. The Connecticut Lottery is overseeing that part of the industry.

Outside of the two casinos, retail sportsbooks are planned for all the major population centers in the state. The Lottery’s director of business and legal affairs for sports betting is Andrew Walter. He recently confirmed that there are at least three potential locations for legal retail sportsbooks in Bridgeport.

Overall, the state can have up to 15 locations with retail sports betting. The Lottery has partnered with Sportech for the first nine locations. The other six remain up for grabs. Other areas in the state looking to add a retail sportsbook include Stamford, New Haven and Hartford.

The timeline for retail expansion in Connecticut is the first quarter of 2022. In all likelihood, the first retail sportsbook will open in Bridgeport as part of a planned entertainment complex.

Written by Dave Schwab, our US Sports Betting Industry expert. You can learn more about our author's expertise here.

Dave Schwab

Dave Schwab has been covering the sports betting industry for the past 12 years as the main focus of his specialty marketing company for online content. This endeavor followed a previous career in the field of sales and marketing in the wholesaling sector.Most of his weekly pieces focus on the rapidly expanding legal US sports betting industry. However, he still does extensive work covering betting angles that can provide a competitive edge to avid players. Dave believes that it is always a challenge to take past results and current form to try and correctly determine a future result. Sports brings out the unpredictability in what should be a fairly predictable outcome based on the stats, facts and recent trends in a particular matchup. More from Dave Schwab