Senate approves sports betting bill in Connecticut

The long-awaited gambling expansion has been finally approved by the Senate and now only needs the signature of Governor Ned Lamont to become law.

US.- After years of debate, the state of Connecticut is close to legalising sports betting and online wagering. The Senate has passed the bill, which now only needs the signature of the state’s governor.

The bill, . which was passed on a bipartisan 28 to 6 vote, would give the state’s two tribal casinos and the Connecticut Lottery Corp the possibility to operate the segment.

It includes an agreement Democratic Gov. Ned Lamont reached in March with the Mashantucket Pequot and Mohegan tribes, the owners and operators of Foxwoods Resort Casino and Mohegan Sun in southeastern Connecticut.

That allows the governor to amend the state’s compacts with the tribes that govern gambling, enabling both to offer sports betting, online gambling and online fantasy sports in return for providing the state a share of the revenues.

Amended compacts will still need to be approved by the U.S. Department of Interior.

The legislation does not allow college sports. Residents will only be able to wager on professional sports and the annual NCAA basketball bracket pools that include local schools.

It is expected the amended compacts can be approved in time for the NFL season, helping Connecticut catch up to neighbouring states that have already allowed sports wagering.

According to the bill, for internet gambling, the state’s tax rate on gross revenues will be 18 per cent for the first five years and then 20 per cent for the next five years, with an option to continue for another five years.

The tax rate on sports betting and fantasy contests will be 13.75 per cent.