iGaming and Sports Betting Moves Forward in Connecticut
Online gambling and sports betting efforts are moving forward in Connecticut as lawmakers approve regulations.
Efforts to legalize online gambling and sports betting in Connecticut are slowly progressing, as the Legislative Regulation Review Committee recently approved the industries regulations. Earlier this week, the committee voted 9 to 4 in approval of regulations to see the new gaming options get started. The 82 pages of regulations will help the online and retail sports betting market, plus iGaming, offer secure and fair services.
During this week’s vote, the outcome was in favor of moving forward, but there were still four people against the option. The no votes were made by Republicans who feel iffy about the funding from iGaming. The group wants to see stipulations put in place in an emergency manner that will allow sports betting to start with the new football season but revisit some conditions later on.
For democrat members, they wanted to ratify the regulatory package. In the end, the regulations pushed forward and now all that is left is for the US Department of Interior to approve the details. Earlier this year, Governor Ned Lamont signed legislation that amends gaming compacts with the Mohegan and Mashantucket Pequot tribes.
The changes will see retail and online sports betting offered via the tribes plus online slots and table games. The Mohegan tribe operates the Mohegan Sun while the Mashantucket is in charge of the Foxwoods Resort Casino.
The legislative change also allows the lottery to offer sports betting. A total of 15 locations will be offered across the state along with online betting. The Lottery has already provided one company with licensing for services, Rush Street Interactive.
Online sports betting will be taxed at 13.75% be it online or in person. For online casino gaming, the tribes will pay 18% in taxes on slots and table games. Five years after launch, the tribes must pay 20% of their revenues for taxes.
Before anything can move forward, the department of the interior must approve the Class III gaming compacts. A total of 45 days are allowed to provide a ruling. With the date in which the documents were sent, this leaves a deadline of September 9.
If the department approves the compacts, then sports betting and online gaming licenses can be issued. both tribes are ready to go, having already teamed up with partners. Foxwoods will be working with DraftKings while FanDuel is working with Mohegan Sun.
In Connecticut, the regulations were basically already created by legislature. The committee had to review the regulations and then approve them before it would become law. The goal of the committee is to ensure that the regulations associated with the bill have the force of law and that the conditions of the measure do not conflict with the state/federal constitution or laws.
The regulations are just over 80 pages long and cover a host of topics including how operators will be licensed and problem gambling. One stipulation within the regulations states that all ATM machines must have signs that talk about problem gambling and resources for assistance. The signs must be at least a foot by foot in size.
New regulations also do not allow venues to take sports bets on college games that are associated with schools in the state. This is similar to what other states with legalized sports betting have listed in their regulations.
It will be interesting to see if the compacts are approved by the department in a quick manner or if the timeline will draw nearer before any decision is made. It is expected that the rules will be approved.