The Connecticut Lottery Is Finalizing Negotiations With a Sports Betting Operator

The Connecticut Lottery is in the final stages of negotiations with a sports betting operator. It intends to unveil its partner in the coming weeks.

The Connecticut Lottery is in the last stages of negotiations with a sports betting company. With football season right around the corner, it intends to announce a partner in the coming weeks.

Reports also mentioned that the state’s two tribal casinos have already partnered with the giants of the sports industry, i.e., Foxwoods is partnering with DraftKings, while Mohegan Sun has collaborated with FanDuel. 

A list of 15 sports betting vendors was narrowed to seven. According to News 8, everyone was invited to submit their best and last proposals, and after clarification questions that last a week, everyone was requested to resubmit their proposals.

One operator has been shortlisted but hasn’t been made public because the talks are yet to be finalized. The operator could be possibly named soon for the betting section of Connecticut’s gambling programs, which covers online lottery games and gambling. 

The lottery company now has the ability to run online lottery games and up to 15 betting facilities, in accordance with a gaming law signed by Gov Ned Lamont.

The bill was ushered through the Senate by State Senator Cathy Osten, D-Sprague. Sen. D-Sprague’s district contains both the tribal casinos. She stated that she anticipates the operator to be named shortly and that the state Department of Consumer Protection has written temporary regulations for Governor Ned Lamont’s consideration, as well as a vote in the General Assembly Regulation Review Committee.

Research and analysis also show that sports betting can generate a revenue of $19.3 million during the year 2021, and it might reach up to $25 million by 2026.

The lottery also intends to put out a request for proposals for the online components, which would include applications and other services. In the current fiscal year, the online lottery is expected to produce $2 million in tax revenue, rising to $19 million by the end of June in 2026. By then, online keno might be bringing in $2 million a year for the state.