DraftKings continued to hold an edge over rival FanDuel in Connecticut in terms of online casino revenue and handle from sports wagering in December, according to data from the Connecticut Department of Consumer Protection (CDCP).
CDCP figures also show DraftKings took back the lead in revenue from sports betting, where it and FanDuel compete with — and have so far dominated — SugarHouse and its partner, the Connecticut Lottery Corporation (CLC).
- Variety of games
- Player-friendly terms
- Quality mobile app
Foxwoods Resort Casino is DraftKings’ land-based partner, while FanDuel is partnered with the Mohegan Sun Casino. The tribal casinos are owned and operated by the Mashantucket Pequot Tribe and the Mohegan Tribe, respectively.
Online casino revenue totaled 16.3 million in December, an 18% increase from November ($13.9 million) and more than double the figure from October ($6.6 million), although the latter was an incomplete month — online casino gaming and sports betting were live for just 20 days in October.
DraftKings Casino CT led in the vertical with $9.2 million in revenue in December, up from $7.9 million the month prior. FanDuel Casino CT also saw increased revenue and grossed $7.1 million in December, up from $5.9 million in November. Market share between the two rivals barely changed month-to-month — FanDuel’s share went up one percentage point to 43.5%, while DraftKings held the remaining 56.5%.
Sports Revenue Plunges Despite Higher Handle
In terms of handle, DraftKings, FanDuel, and SugarHouse combined for a $143.6 million handle in December, up 12.5% from $127.5 million in November and $54.1 million in October.
DraftKings Sportsbook CT accepted $68.9 million in wagers in December, up from $60 million in November. FanDuel was second but yielded some ground to both of its competitors — it processed $63.3 million in December, up from $59 million one month earlier. *SugarHouse *was third with an $11.4 million handle, up from $8.5 million in November.
Despite the larger handle in December, sports betting revenue plummeted 45.3% month-over-month. The trio of operators grossed $6.4 million in December, down from $11.6 million the month before.
After grossing just under $6 million in November, FanDuel grossed less than half that amount in December: $2.6 million. DraftKings led the vertical with $3.2 million in revenue, but that was down 38% from $5.1 million in November.
Only SugarHouse Sportsbook CT gained in the vertical. It grossed $561k in December, up from $555k in November. SugarHouse is also the only operator of the three to have consistently increased its share of handle and sports betting revenue — both figures were 6% in October, but SugarHouse and the CLC grew its share of handle to 8% in December and revenue from sports wagering climbed to 9% that month.
Hold appeared to stabilize in December. While DraftKings enjoyed an 11.3% hold in October and FanDuel did likewise with a 10.1% hold in November, the operators were down to 4.6% and 4.1% in December, respectively. Meanwhile, SugarHouse had holds of 6.6% and 6.5% in October and November, respectively, before settling at 4.9% in December.
SugarHouse is a brand of Rush Street Interactive.
