Connecticut Governor Throws Support for State Sports Betting Bill

Odds Board and Money
Gov. Ned Lamont said last week that he is working on bringing sports betting and iGaming to Connecticut. Per Gov. Lamont, he has been talking to the state’s two tribal casino operators about adding sportsbooks and online gaming to their services.

Said Gov. Lamont about residents heading to nearby states to make sports bets:

“Connecticut should not leave these opportunities for other states to benefit from our inaction.”

Senate Bill 146

SB 146 would authorize the Mashantucket Pequot Tribe and the Mohegan Tribe of Indians to conduct both retail and online Connecticut sports betting on tribal land. The two tribes would also be allowed to run online casino businesses.

Furthermore, the bill proposes that the Connecticut Lottery Corporation to sell lottery game tickets and organize online keno games. The bill also states that the legalization of Connecticut sports betting, online gambling, as well as selling of game tickets and online keno games are subject to “new or amended agreements” with the Native American tribes.

If Senate Bill 146 is accepted, a reasonable set of procedures and data security standards for internet gaming need to be set-up. Likewise, Connecticut sports betting and online gambling will provide revenue to the state in the form of taxes.

Legalization Won’t Happen Overnight

Although the bill’s proposal has been filed, it doesn’t necessarily mean that legalization will happen overnight. The Connecticut General Assembly still has to vote on the bill during the 2021 legislative session, which will conclude on June 9th or four months for legislators to decide whether or not to approval legal Connecticut sports betting.

But COVID-19 has affected badly the revenues of Connecticut, as it has the other states in the U.S. Some lawmakers said last week that legal sports betting can help the state offset revenue losses and that could be enough to convince lawmakers to help pass the bill.

If passed, the bill won’t take effect until 2022, just in time for the fiscal year 2023. According to Democratic lawmakers in the state, if legal Connecticut sports betting goes as planned and the bill is passed, they could see an increase in annual revenues by $47.3M in 2023.