Connecticut
lawmakers are on the brink of approving legalized sports betting in the state.
When
the expected final approval is given by state lawmakers, the measure will be off
to Gov. Ned Lamont, who went into overtime to negotiate the deal
with the state's two tribal casinos.
Bettors
won't have to drive all the way to
Foxwoods or Mohegan Sun. The Connecticut
Lottery can also offer sports wagers at up to 15 locations across the state.
One of
them is likely to be Bobby V’s – an off-track betting bar in Stamford.
People
in the state will also be able to bet on cellphones, including table games like
poker and blackjack.
For
sports wagers, the state gets an almost 14% cut. For online games, it's 18% at
first, then 20%.
Fantasy
sports apps, such as FanDuel, may be shut down in a few months, since the state
will now require a license.
"Who
knows how long that's going to take,” says Peter Schoenke, of the Fantasy
Sports and Gaming Association. “It could take six months. It could take two
years. So everybody that enjoys playing fantasy football on DraftKings
and FanDuel and these other contests, they might be locked out of the whole
football season."
Gov.
Lamont's office is working to find a solution. Paul Mounds, his chief of
staff, has been speaking to Draft Kings directly.
Once
Gov. Lamont signs the law, the feds will have to approve it too. If all goes as
planned, Connecticut residents could be placing sports wagers by Labor
Day.