DraftKings Leading New Connecticut Online Casino Market



DraftKings Leading New Connecticut Online Casino Market

Connecticut’s regulated online casino market is less than two months old, but DraftKings Casino CT has already secured a solid lead. DraftKings scored near $ 8 million in adjusted gross revenue (AGR) casino side, representative over 57% of the total market.

With November as the only full month of casino revenue data to date for Connecticut’s new online gambling market, DraftKings appears to be leading the way from the start. Although the data is still preliminary, DraftKings Casino led both the shortened October launch month, as well as the full November month in AGR.

DraftKings is one of the largest online casinos in the United States, operating DraftKings Casino MI, DraftKings Casino PA, and many other state licensed sites in the United States. In Connecticut, it is one of only two operators sanctioned for online casino games in the state. His only rival, FanDuel CT, generated $ 5.9 million for nearly 43% of the market.

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Rapid growth of the new market

The November results show a booming market in CT. In the 20 days of regulated gambling at CT in October, just over $ 6.6 million in AGR was generated between the two operators. In November – the first full month of CT online casinos’ activity – that number rose to $ 13.85 million in total, more than double the October figure.

While November is a full month of data and October only had 20 data points, November still shows a big increase in AGR. With 20 days of data, the Daily average AGR for CT in October was just over $ 330,000, while in November that number was over $ 460,000 per day.

This means that the Daily AGR won by gambling operators CT jumped almost 40% between the opening month of October and November. Although this could be explained by the fact that new customers keep connecting, it still shows strong initial market growth.

DraftKings is doing even better than the overall online gaming market; during the short reference period of October, DK saw just over $ 180,000 per day in AGR. This jumped to nearly $ 265,000 per day in November, an increase of over 46%.

Connecticut Casino Adjusted Gross Income (AGR)

Oct Nov To augment
Total number of reporting days 20 30
Total market size $ 6,640,871 $ 13,851,448 108.58%
DraftKings Share $ 3,610,437 $ 7,931,349 119.68%
Share FanDuel $ 3,030,434 $ 5,920,099 95.35%
AGR total / day $ 332,044 $ 461,715 39.05%
DraftKings AGR / Day $ 180,522 $ 264,378 46.45%
FanDuel AGR / Day $ 151,522 $ 197,337 30.24%

Sports betting handful increases more than three times

In addition to legally sanctioned online casinos, Connecticut’s online sports betting market also took off in October of this year and this side of the regulated online gaming market has also seen tremendous growth. The total October-November handle more than tripled from just under $ 5 million in the first month of operation to nearly $ 16 million in November..

The data shows a little more $ 11.6 million in AGR on the sports betting side, with FanDuel emerging at the top in November. FanDuel’s online bookmaker topped all sports betting categories, with a $ 1 million lead over DraftKings Sports in total, a $ 1.1 million lead in unadjusted gross income, and a $ 800,000 lead. in AGR.

While Connecticut’s online gambling market is still very new, early data shows promising trends for growing markets for both casinos and sports betting. For now, DraftKings has a solid lead in the casino market, but on the sports betting side things are getting more competitive with DraftKings and FanDuel in a tighter battle.

Connecticut’s recently launched online gambling industry is still in its infancy, but early trends show good prospects for 2022. With such strong initial growth, the future looks bright for CT online gaming.

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