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Late last week, Governor Ned Lamont, Mashantucket Pequot Tribal Nation Chairman Rodney Butler, and Mohegan Tribal Council Chairman James Gessner Jr. announced that the US Department of the Interior had approved the proposed revisions to the state’s tribal gaming compacts.
This marks the final step towards launching legal sports betting in Connecticut, a tedious process that started back in May 2021 once Gov. Lamont signed HB6451 into law after the state Legislature approved it in a late-night session.
The compacts describe in detail a sports gambling operation that includes a 13.75% tax rate on retail sports betting and an 18% tax rate on all online gambling for the first five years (increased to 20% after that), revenue that will go a long way to improving the lives of Nutmeg State residents.
Gov. Lamont thanked the Bureau of Indian Affairs for approving these revisions and made it clear that he is counting on his state’s sports betting operation to compete nationwide.
This critical step in the process of modernizing our gaming landscape here in Connecticut ensures that our state will have a competitive, nation-leading marketplace for wagering both in-person and online.
Once operations are set up, there will be three sportsbook options for Connecticut bettors to choose from:
According to Mashantucket Pequot Tribal Nation Chairman Rodney Butler, the benefits of this new partnership are threefold:
This expansion will allow us to enhance investments in support of our tribe, to contribute additional revenue to the State of Connecticut, and to provide a new level of entertainment for our guests.
With federal approval out of the way, now sports betting in the Constitution State can launch by its planned October start date, giving Connecticut bettors a full three months of NFL betting leading up to the league’s postseason play which begins in the middle of January.
Once this sports betting market matures in Connecticut, industry leaders have projected that online sports betting and US online casinos could reach $418 million in annual combined revenue, money that couldn’t come at a better time for residents still financially reeling from the effects of the worldwide pandemic.
Mohegan Tribal Council Chairman Gessner sees this sports betting operation as a means to benefit not just his tribe, but citizens of the entire state.
Modernizing our gaming industry will help protect and create Connecticut jobs, and it will generate tax revenues to the benefit of both state and local municipal budgets, as well as our tribe’s members.
This forward movement in Connecticut sports betting comes just in time, given that operations in nearby New Jersey and Pennsylvania are already live and with New York, Maryland, and Massachusetts all currently in the legislative or regulatory process.
Mike Lukas is a retired standup comedian turned freelance writer now living in Dallas, Texas, originally from Cleveland, Ohio. His love for the game of football and all things Cleveland Browns turned Mike into a pro blogger years ago. Now Mike enjoys writing about all thirty-two NFL teams, hoping to help football gamblers gain a slight edge in their pursuit of the perfect wager. Email: [email protected]More info on Mike Lukas
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