Sportsbetting and Online Gaming To Go Live in Connecticut in October – Beat The Fish

Sportsbetting and online casino gaming have received final approval in Connecticut and are expected to go live in October.

Its been announced that Connecticut has received federal approval for the launch of sportsbetting and online gaming. Confirmed by a tweet from Governor Ned Lamont, players across the state will soon be able to wager on sports both online and in person.

Gaming operators in the state will be able to partner with third-party sportsbetting brands. The Connecticut Lottery will be teaming up with Rush Street Interactive, DraftKings and FanDuel to launch betting skins, and it will operate 15 retail sportsbooks across the state.

Connecticut tribes will also operate online and land-based betting platforms. Mohegan Gaming & Entertainment has signed an agreement with Kambi, while Mashantucket Pequot will be working with DraftKings. The two tribes will also be permitted to run online casino platforms, while the CT Lottery will run iLottery.

It is estimated that Connecticuts online gaming and sportsbetting market could be worth $418 million. This will present the state with plenty of useful tax revenue as online gaming licensees will be required to pay an 18% tax rate for the first five years and, then 20% after that. Sportsbetting and fantasy sports operators will pay 13.75%.

Taxes will then go towards the general fund. This covers:

This will certainly be a huge boost to the states economy, and benefit residents in a wide variety of ways.

While the arrival of sportsbetting in Connecticut has missed the start of the NFL season, residents wont have to wait too much longer. It has been reported that online gaming and sportsbetting could be available in the state by October.

We think we can be live in the next two weeks and my new target is the third week of the NFL season if everything lines up. But it really relies on the licensing process at this point and how fast we can get through that, Rodney Butler, Chairman of the Mashantucket Pequot Tribal Nation.

Lawmakers in the state were very invested in getting sportsbetting up and running as quickly as possible. Just over a week ago, the Regulations Review Committee voted in favour of adopting emergency regulations that would speed things along.

Now that the approval of sportsbetting has been fast-tracked, players can look forward to wagering on their favourite teams very shortly.

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Sportsbetting and Online Gaming To Go Live in Connecticut in October - Beat The Fish