Connecticut lawmakers made one more step towards legalizing online gambling and sports betting. The CT House voted 122-21 to legalize online gambling, sports betting, and lottery sales.
The bill legalizes the agreement between Gov. Ned Lamont, the two tribal nations running casinos, and the state lottery. The state is the latest to join the nearly $67B online gambling industry.
Some details of the bill include:
- 15 retail sports locations, ran by the lottery
- 18% tax on online gambling for the first five years, and after 20%
- 13.75% tax on sports betting
The state projects it will collect $19.3M in taxes from sports betting and $8.6M on online gambling in the first fiscal year, which starts July 1st. The state estimates the total number can reach $83 million.
There are some questions about the fantasy section of the bill. There are chances of the shutdown of fantasy sports for the NFL season.
Another deal includes the increase in funding for problem gambling programs. Each casino will contribute $500,000 yearly, and the lottery will contribute $3.3M, one million more than what it currently does.
The goal for the state is for gambling to launch by the start of the NFL season, as football is the sport with the most bets placed. The following steps are approval from the Senate, the Governor signs it, and finally, the Department of Interior signs off the tribal changes.
Once online gambling and betting become legal, it will be open to Connecticut residents over 21.