When Will Connecticut Sports Betting Launch?
On Thursday, the Connecticut sports betting market took a huge step forward. Governor Ned Lamont, the Mashantucket Pequots, and the Mohegans confirmed that the United States Department of the Interior approved their gaming compacts. Denial at the federal level is not common, but this was still a major hurdle for all parties involved because of the waiting game.
With the compacts approved, Connecticut can begin the implementation process for wagering. The state aims to launch sports betting in October to take advantage of three months of football season.
The Next Steps
The Connecticut Department of Consumer Protection will continue to manufacture the plans for implementation over the next months. Most of the details are established, but the department will need to put the final touches on the market.
There will be three sports betting options in the state. Rush Street Interactive partnered with the Connecticut Lottery. DraftKings and FanDuel have partnered with the Mashantucket and Mohegans, respectively.
Lamont, who has been a major proponent of sports betting since the pandemic, spoke following the clearance from the Department of the Interior.
He said, “Today’s announcement puts Connecticut on the cusp of providing a modern, technologically advanced gaming experience that will be competitive with our neighboring states. This positions us for success into the future.”
Connecticut will offer iGaming, which is not common, like sports betting throughout the nation. The state may be small, but its location between Boston and New York makes it a prime location for sports wagering. Additionally, Connecticut is the sixth wealthiest state by median household income.
Tribes Will Dominate Connecticut Sports Betting
The tribal nations will dominate Connecticut sports betting because of their partnerships with top-tier operators. The chairman of each tribe spoke after their compacts were approved, and their excitement was apparent.
Mashantucket Pequot Chairman Rodney Butler said, “Today’s approval from the federal Department of the Interior is historic. This begins an exciting new chapter for the Mashantucket Pequot Tribal Nation. 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.”
Mohegan Chairman James Gessner Jr. added, “Modernizing our gaming industry will help protect and create Connecticut jobs. It will generate tax revenues to the benefit of both state and local municipal budgets, as well as our tribe’s members. This is not just a regional issue – it will have a statewide impact as Connecticut works to meet critical needs as it recovers from the pandemic. Today is a milestone achievement for Connecticut and its tribal nations.”
When Connecticut launches sports betting, the market is expected to be competitive in the industry. Once October arrives, the industry will be able to tell if the promising projections become a reality.