Betting News

Lottery Announces Partner; Sports Betting Closer to Reality

According to official reports, sports betting will begin in Connecticut on August 12th, 2021, with the lottery making the announcement. Residents of Connecticut who enjoy sports betting will be pleased to learn that the Connecticut Lottery Corporation will enter into a partnership with Rush Street Interactive (RSI), an online sports betting company with operations in around ten states, highlighting the most recent iteration in the efforts to legalize sports betting as soon as possible.

The online sports wagering platform will now be administered by RSI, a Chicago-based firm, for a ten-year agreement that is expected to generate at least $160 million profit, according to the partnership agreement. As a result, RSI has both hands dipped in honey, as this alliance will bring them a lot of cash. Both businesses engaged in this partnership will profit handsomely by enticing individuals to wager on sporting events. 

In an interview, the lottery’s chairman emphasized his delight by telling the media that they will soon be collecting bets on sporting events, including the highly anticipated NFL season. As a result, it is evident that officials are preparing to operate at a high level throughout this football season, as it will be their most profitable. It’s also crucial to note that they’ve only offered in-person betting so far, but the online lottery will most likely launch in early 2022.

It’s also worth noting that under Connecticut’s new gambling laws, only the lottery and the state’s Native American tribes – the Mashantucket Pequots and the Mohegans, are permitted to offer in-person and online sports betting. As a result, it is not permissible for other tribes, and they are currently seeking sufficient federal clearances from the US Department to change their existing gambling agreements with Connecticut to allow them to offer online gaming and sports betting as well.

The lottery and the tribes must wait for the Regulation Review Committee to approve new federal rules for a completely new gambling market in Connecticut, which would include sports betting, online gambling, an online lottery draw, and a variety of fantasy sports events. State’s Department of Consumer Protection is still working on the rules, which are expected to be presented to the review committee next week, most likely on August 31, 2021, through a rapid process.

“We’re moving as quickly as we can,” said Leslie, legislative director of Consumer Protection. Their goal is to use legislation to create some obstacles, ensuring that customers are protected and that they are in a safe atmosphere to encourage responsible gambling, as well as to ensure that data privacy and game integrity are safeguarded.

The Tribe intends to offer internet gambling and sports betting as soon as it is permitted. So, it is not an exaggeration to say that this football season will be beneficial to the betting industry.

David Bright

David Bright joined Times of Casino as a news writer focused on the casino industry. He holds a bachelor degree in Economics and Accounting and currently contributing in-depth news articles. David writes on the casinos, gambling legislation, poker, and much more.

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