Connecticut’s Internet Casino Revenue Skyrocketed in May

The Connecticut Department of Consumer Protection recently released its internet casino revenue report for May, unveiling a remarkable milestone. Dominated by industry giants FanDuel and DraftKings, the state recorded a total revenue of $46.3 million, marking a 41.3% year-on-year increase. To put it in perspective, Connecticut’s internet casino industry garnered $32.8 million in May of the previous year. This significant jump not only spotlights the rapid growth but also underscores the sixth consecutive month of revenue surpassing the $40 million mark. Moreover, the gross internet casino revenue in May has eclipsed the record set in March 2024 ($44.3 million), indicating a robust upward trend within the sector.

Fueling this surge, the betting handle in Connecticut reached an unprecedented $1.37 billion, making it the ninth consecutive month where iGaming operators recorded over a billion in wagers. Such impressive figures reflect a year-to-date handle of $6.58 billion, a 32.4% increase from the previous year. The stellar performance of the industry translated into $7.1 million in taxes for May alone, contributing to a total of $33.3 million in taxes collected from local licensees so far this year. This is a significant leap from the $23.1 million documented in the same period last year. These statistics not only reflect the growing popularity of online casinos but also highlight their substantial economic impact on the state.