Connecticut Breaks Sports Betting Handle Record In January

• Connecticut’s sportsbooks have set a new record for monthly sports betting handle in January, bringing in over $158 million in sports bets on the month.
• DraftKings led the way with over $73.7 million in handle; FanDuel came in a close second with $61.69 million in handle; while BetRivers came in a distant third place.

HARTFORD, Conn. – Connecticut’s sportsbooks have set a new record for monthly sports betting handle in January, according to a report released by the Connecticut State Department of Consumer Protection.

Connecticut joins a trend of multiple legal sports betting markets to see record high handles in January.

Connecticut Sportsbooks Break Sports Betting Handle Record In January

In the report,  released by the state, the official data shows that Connecticut’s sportsbooks turned over a total of $158,092,481 in legal sports betting handle in January.

This is best month by this metric since Connecticut’s sports betting market fully launched in October. Compared to last month’s sports betting handle figures, Connecticut’s sportsbooks handled 5.3% more wagers in January.

The solid handle was good enough for just over $10.8 million in sports betting revenue, the second-best revenue figure since launch.

The primary reason Connecticut was unable to break their sports betting revenue record – even with a record-setting handle – was a relatively-low 6.83% win rate, the third-lowest rate since the industry’s full launch.

Even with this low win rate, though, Connecticut’s sportsbooks were able to contribute $1.14 million in sports betting taxes to the state coffer.

DraftKings Leads Charge In Connecticut

The online sportsbook that turned over the greatest total handle was DraftKings, which handled over $73.7 million in sports bets for $6.2 million in gross gaming revenue. After adjustments, DraftKings’ revenue figure came in at $4.6 million.

FanDuel was close behind DraftKings with $61.98 million in sports betting handle, though this was good for only about half the gross gaming revenue ($3.2 million) of DraftKings. After adjustments, FanDuel’s revenue total came to $2.4 million.

In a distant third place for January was BetRivers. BetRivers turned over $13.7 million in sports betting handle for $582,000 in gross gaming revenue and $437,000 in adjusted gross revenue.

The Connecticut Lottery turned over an $8.7 million handle, though their adjusted gross revenue was just $825,000.

News tags: BetRivers | Connecticut | Connecticut Lottery | Connecticut State Department Of Consumer Protection | DraftKings | FanDuel