Four months after the Connecticut online casino gaming and sports betting market went live, DraftKings has extended its lead over rivals FanDuel and SugarHouse by every metric in January, according to data supplied by the Connecticut Department of Consumer Protection (CDCP).
Online casino revenue grew 15.3% month-over-month to $18.8 million in January, a new high for the vertical. January’s revenue was almost triple that of October 2021 ($6.6 million), although that was an incomplete month — both online casino gaming and sports betting were live for only 20 days in October.
DraftKings Casino had $11.1 million in revenue from online casino gaming in January, up from $9.2 million in December 2021. It also held a 59% market share in the vertical, its largest to date.
FanDuel Casino grossed $7.7 million in January, up from $7.1 million the month before. Its market share slid to 40.9%, its lowest since the market’s inception.
DraftKings’ land-based partner is Foxwoods Resort Casino, which is owned and operated by the Mashantucket Pequot Tribe. FanDuel is partnered with the Mohegan Sun Casino and its owner/operator, the Mohegan Tribe.
CDCP reported that the Mashantucket Pequot Tribe had $24k of online casino revenue in January, up from less than $3k in December.
The online casino revenue reported in January by DraftKings, FanDuel, and the Mashantucket Pequot Tribe were record highs for each.
CT Sports Betting Handle Hits Another Record
Sports bettors in Connecticut drove a record $149.4 million handle in January, up 4% from the previous record of $143.6 million, set the month prior.
DraftKings Sportsbook CT took a record $73.7 million in wagers in January, up from $68.9 million in December. It also boosted its share of handle to 49.4% in January, its largest share of monthly wagers to date.
FanDuel Sportsbook CT was second in handle at $62 million, down from its record of $63.3 million the month prior. But FanDuel’s share of handle dropped to 41.5% in January, down from 44.1% in 217043-ct-online-casino-sports-betting-revenue-dec-2021.
In third place for handle was SugarHouse Sportsbook, which took in a record $13.7 million in wagers. SugarHouse, a brand of Rush Street Interactive (RSI), partnered with the Connecticut Lottery Corporation (CLC) for sports betting. SugarHouse accounted for 9.1% of handle in January, a record for the operator.
Adjusted sports betting revenue totaled $7.5 million in January, a 17.6% increase from December ($6.4 million), CDCP data show. January was not a record in terms of revenue for the vertical — that title belongs to November 2021, when Connecticut’s three sportsbooks combined to make $11.6 million.
DraftKings Sportsbook grossed $4.6 million in sports revenue in January, up from $3.2 million in December. It also went on a tear and accounted for 61.8% of total sports betting revenue in January — its largest stake to date for a full month.
Meanwhile, FanDuel Sportsbook made $2.4 million in January, down from $2.6 million in December. FanDuel held a 32.4% market share in January, its lowest stake for a full month.
SugarHouse and its partner, the Connecticut Lottery Corporation (CLC), were third in terms of revenue with $437k generated in January, down from its record of $561k in December. Market share for SugarHouse dropped to 5.8% in January, down from a record 8.8% in December.
Although overall sports revenue was up 17.6% month-over-month, it was down 35.7% compared to November’s record of $11.6 million for the vertical.
DraftKings and FanDuel both had record months for sports betting revenue in November 2021. That month, FanDuel grossed nearly $6 million while DraftKings made $5.1 million.
In terms of hold, DraftKings led its rivals again in January at 6.27%, compared to 3.91% for FanDuel and 3.2% for SugarHouse. Hold looked much different just one month earlier, when DraftKings, FanDuel, and SugarHouse had holds of 4.63%, 4.13%, and 4.93%, respectively, in December.
Mohegan Sun had a soft opening for a FanDuel retail sportsbook at the casino earlier this month. An official grand opening is scheduled for March 5.