Connecticut residents could be betting on sports and playing casino games as early as October. The announcement came after the Feds approve online sportsbook operations and casino gaming compact between the state and the Mohegan and Mashantucket Pequot tribes.
The feds approval allows tribes to launch online casinos and sports betting in Connecticut. The new law will also allow the Connecticut Lottery Corp. Governor Lamont said that it is a vital step in modernizing the state’s gaming industry. Also, he wants the state to become the leader in both online and in-person sports betting.
The Regulation Review Committee of the General Assembly approved the state’s Department of Consumer Protection’s proposal on online gaming and sports wagering regulations. After getting the approval, the DCP can complete the licensing process to certify gaming operators.
Feds Approve Online Sportsbook Operations
According to a political forum, the Lottery and tribes have partners to operate their retail sports betting locations. A recent study showed that revenues could be more than $400 million annually after the market’s maturity. In addition, when bookies use sportsbook social media campaign, they can attract more players to the new market.
Casino operators are happy with the feds’ approval. The gambling-expansion will allow the tribes to improve investments and contribute extra revenue to the state. Also, it would bring a new form of entertainment for casino guests.
The gambling-expansion can also create and protect jobs in the state. The newly enacted law allows bookies to manage a bookie business from phone. Also, it would bring more financial benefits to the state and local communities.