There are now over 20 states that have legalized sports betting in America and expect a number of new states to legalize sports betting in 2021. Connecticut does not have a legalized sports betting market but will have to discuss the possibility of legalization shortly.
Connecticut has debated the possibility of legalizing sports betting but nothing came to fruition. Governor Ned Lamont has made it clear that any sports betting legalization talks would have to include the two tribal casinos operators in the state which are the Mohegan Sun and Mashantucket Tribe.
The two tribal casino operators have an exclusive agreement to run casinos in the state in exchange for giving the state twenty five percent of all slot revenues which brings in millions to the state coffers. If the tribes oppose sports betting legalization, it will make it difficult for Connecticut to approval legalized sports betting.
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The Mashantucket tribe appears keen on moving forward with sports betting legislation which is good news for Connecticut legislators. DraftKings and the Mashantucket tribe have entered into a multi-channel deal that will see the tribe offer their patrons a number of DraftKings products which include daily fantasy sports (DFS) services and a mobile sports betting app.
Matt Kalish, President for DraftKings gave us an indication as to what the partnership will mean for Connecticut. Kalish said that this was a landmark deal for both companies and a step in the right direction as the two partners’ estimate that the sports betting market could bring in over $175 million to the state within a 5 year period.
The Foxwoods Casino in Connecticut which is operated by the Mashantucket tribe is one of the biggest casinos in the state. Foxwood is expected to launch DFS services on December 13 which will include online DFS contests, promotions and more. There is no indication as to whether a DFS retail sportsbook would open at the casino.
DraftKings has expanded its sports betting footprint across the country with strategic deals and now has mobile sports betting operations in 10 states and retail sportsbooks in 12 states. Kalish said the company is looking to expand its footprint in the New England jurisdiction by focusing on Connecticut, the tri-state area in New York and New Jersey.
Rodney Butler, chairman for the Mashantucket tribe said that they would work together with the state to amend gaming legislation and tribal contracts to get sports betting up and running as it will help boost the economy of Connecticut.
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