Last Updated on March 3, 2021
Could sports betting and online gaming be coming to Connecticut soon? The state’s governor, Ned Lamont, announced that Connecticut and the Mohegan Tribe has agreed to a deal that paves the way for sports betting and online gaming in the state. Mohegan Tribe owns and operates the Mohegan Sun casino in Connecticut, which was a hurdle in need of crossing before sports betting and online gambling could enter the state.
Lamont’s administration is excited for this deal, as it is set to generate a ton of tax revenue for the state. Let’s take a look at the deal itself, what is next for sports betting in Connecticut, and more.
Mohegan Tribe and CT Lottery Agree to Online Gaming Deal
Connecticut Reaches Deal With Mohegan Tribe to Allow Sports Betting, Online Gaming https://t.co/KyosiRzpQ5
— NBC Connecticut (@NBCConnecticut) March 2, 2021
Late Tuesday afternoon, the Mohegan Tribe (Mohegan Sun) and the state of Connecticut agreed to a deal that looks to bring online sports betting and gambling to the state. With a large tax rate of 20% on online gaming and 13.75% tax on sports betting, the taxes will pay immediate dividends for Connecticut once it is fully executed in the jurisdiction. Connecticut’s Governor Lamont said in a quote:
“This agreement represents months of hard work and dedication to getting a deal that’s best for the residents of Connecticut and moves our state forward when it comes to the future of gaming. We are incredibly fortunate to have such a devoted partner in these efforts like the Mohegan Tribe, as they have been open to negotiation, honest discussion, and a positive path forward that is beneficial for both their tribe and the State of Connecticut.”
This is great news for bettors in Connecticut, as the ball is officially rolling for sports betting to enter the state. In addition, this will help with those in CT that travel to other states to wager.
The terms of the deal include 15 retail locations for the CT lottery in the state, and a 10-year agreement with a five-year option for extension. The other main tribe in Connecticut (Mashantucket Pequot Tribal Nation) and the state are reportedly close as well.
Gaming Taxes Will Generate Millions for CT
A 20% tax rate is quite high compared to many other states, but it is not nearly as high as Pennsylvania’s 36%. This will allow for Connecticut to generate a lot of money in taxes for the state, to help ease any budget concerns amidst and after the COVID-19 pandemic. The tax rates are as follows:
- 20% on online casino games
- 13.75% on sports betting
While Mohegan has already agreed to these terms, Mashantucket Pequot Tribal Nation reportedly wants a 18% tax, but all signs say that the terms will be reached by both sides soon enough.
Connecticut Sports Betting is Coming Soon
This agreement that we've reached with the Mohegan Tribe represents months of hard work and dedication to getting a deal that's best for the residents of Connecticut and moves our state forward when it comes to the future of gaming.
— Governor Ned Lamont (@GovNedLamont) March 2, 2021
What does this mean for sports betting and online gaming in Connecticut? Once the Mashantucket Pequot Tribal Nation accepts, both tribes will be on board and the ball will officially be in legislators courts to enact and execute legal sports betting in the state of Connecticut.
In other states, we have seen this process take anywhere from six months to over a year, but the hope for Connecticut is to have legal sports betting by the end of 2021. If not, early 2022 would be most likely.
This deal brings new avenues for sports betting in Connecticut, as online gaming is one thing but there is set to be many retail locations including in the following cities:
- Windsor Locks
- and more
Sports betting is coming soon, Connecticut!
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