- In February, Connecticut’s sportsbooks recorded their second-lowest sports betting handle ($115.6 million) and their lowest revenue figure ($5 million) since launching in October 2021.
- The Mashantucket Pequot Tribe generated $3.2 million of this revenue, outpacing the Mohegan Tribe ($1.1 million) and the Connecticut Lottery ($802,013) in February.
HARTFORD, Conn. – Connecticut’s sportsbooks had their worst month on record in February, according to a new report issued by the Connecticut State Department of Consumer Protection.
Connecticut Sees Second-Lowest Handle Since Launch
According to the report, sportsbooks in Connecticut handled $115.6 million in wagers. This was the smallest sports betting handle in Connecticut since October 2021 ($54.6 million), the first month that sportsbooks were available.
Of this total handle, $108.8 million in wagers were placed using online sportsbooks.
The Mashantucket Pequot Tribe handled $48.8 million, the Mohegan Tribe handled $47.3 million, and the Connecticut Lottery handled $12.6 million in online wagers plus $6.8 million in retail wagers.
Connecticut Records Lowest Revenue Figure Since Launch
Of this handle, operators brought in just $5.0 million in revenue before deductions, with that figure dropping to $3.6 million after deductions. This was the lowest revenue total since Connecticut’s sportsbook launch, even lower than October 2021’s revenue total off a paltry $54.6 million handle.
To make matters worse, that October 2021 figure came on just 20 full days of wagering. This means that February was by far Connecticut’s weakest legal sports betting month to date.
Of Connecticut’s sports betting operators, the Mashantucket Pequot Tribe was the big winner in February with $3.2 million in revenue.
The Mohegan Tribe took in $1.1 million in revenue. The Connecticut Lottery’s sportsbook fared worse in February, generating $443,848 in online sports betting revenue and an additional $358,165 in retail sports betting revenue for a total revenue figure of $802,013.
Sportsbooks Still Chip In Half A Million In Tax Revenue
Of that revenue total, $501,516 went to Connecticut’s coffer as sports betting tax revenue. The Mashantucket Pequot Tribe contributed $313,199 while the Mohegan Tribe contributed $98,897.
The Connecticut Lottery added $42,522 in tax contributions from online sports betting plus $46,898 in tax contributions from retail sports betting, a total contribution of $141,419.
Jerad has been a welcomed addition to the LegalSportsBetting.com writing team. Covering topics regarding the expansion of sports betting in the US, Jerad focuses on legislative efforts, bill signings and other methods for sports betting legalization. Finishing his education as a college baseball player, Jerad has first-hand knowledge of competitive sports, paired with years of personal sports betting as well. As a political science major at the University of Central Florida, Jerad covers the political, legal, and legislative aspects of sports gambling without any issues.