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Connecticut online casino revenue hits record $46M in May

While online casino revenues in Connecticut dropped in April, they bounced back in May, reaching their highest level of $46.2 million. This was mainly attributed to the high win total posted by Mashantucket Pequot Tribe’s DraftKings online casino. The state’s iGaming market was launched in July last year, and it has remained strong and benefited from astute platform choices that are highly lucrative.

The two leading online casinos in Connecticut are the Mashantucket Pequot Tribe (DraftKings) and Mohgan Digital (FanDuel). The regular income from both sites strengthens the state’s position in the competitive field of online casino services. While Connecticut has a comparatively lower population than other states with active online casinos, its iGaming revenue per capita is more than $10.

Only Connecticut, among the seven states with live online casinos, is home to less than 5 million people, yet the per-capita revenue could be more impressive. This achievement can be attributed to the outstanding performance of DraftKings and FanDuel, which recorded an unprecedented high of $46.2 million in revenues in May; this figure was 11.79% more than April’s figures, thus highlighting their dominance in this industry. The increase in monthly revenue indicates that more people in Connecticut can benefit and obtain value from these platforms.

In May, DraftKings emerged as dominant by posting impressive pre-tax revenue of $25.4 million, while FanDuel also achieved the second-best month of the year with $20.8 million in revenues. This follows FanDuel, which grew its revenues to $21.4 million in March 2024, a record in the industry. Together, these two operators have established Connecticut as a serious player in the field of online casinos. For those looking to explore top online casino USA sites, Connecticut’s offerings exemplify successful integration and user engagement.

As the online casino market continues to develop rapidly, Connecticut has added more options for gambling by officially starting the iLottery on July 1st. After a period of soft launch with limited hours and a cap on new sign-ups, the Connecticut Lottery Corp. announced the full rollout, making Connecticut one of only 13 states, plus Washington D.C., to offer a state-run online lottery.

Connecticut has recently joined the list of states offering iLottery and online casino services. Together with Michigan and Pennsylvania, these states now offer their people a wide range of online gambling services. The idea behind having the two offerings is to increase both revenue for the state and employment for online gaming services, as it is seen that this is what people increasingly want as the population grows.

An increase in public interest in gambling has been observed over the last year in Connecticut, as demonstrated by the casino revenue. The overall revenue by the end of May in the year 2024 was $46,241,045, which reflected a month-on-month growth of 11.79%. April 2024 appears to have recorded slightly lower revenues at $41,363,979, down to 6.22% less than March. However, the trend was positive in February and January at $43,622,514 and $41,473,154, respectively. Earnings in December 2023 were much higher, being $44,136,024, up by 15.18% compared to the previous month of November, which recorded revenues of $38,320. The total revenue for the past year has shown another positive change, marking an overall growth, and is now at $432,452,588.

As profits have risen and with the introduction of iLottery, Connecticut is ready to continue its success in online gaming. The decision-making and high outcomes demonstrated by this state based on its iGaming platforms make it a model for other states that wish to join or develop this industry.

Connecticut is experiencing unprecedented expansion of its gaming industry, mainly due to the booming online casinos and iLottery systems. This continuous growth is expected to yield positive economic impacts on the state while offering its people an entertaining pastime.

John Scott

John Scott joined the Times of Casino’s team as a news writer. He previously worked with foremost publications as an intern. He holds bachelor of journalism degree and more than three years of experience of writing. In his free time, he enjoys travelling different places.

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