Despite the massive increase of legalized sports betting operations in the US, a lot of states are still not done. A lot of them are in the process of either considering, or coming up with legislation. Industry experts see a few more states following suit in this year. Especially when looking at the betting handle from 2019. One such promising state where we can possibly see online bookie software is Connecticut. Let’s take a look and see what’s in store for sports betting in Connecticut for 2020.
Connecticut currently has two different bills that they can choose from. The options from these two bills cover a lot. From which operators can offer sports betting, to having retail and/or online sportsbooks. Analysts estimate that the Connecticut betting industry to generate as much as $20 million in annual revenue.
Sports Betting in Connecticut
Both bills are currently sitting in the Joint Committee on Public Safety and Security. The first bill that has been presented to Committee Chair Joe Verrengia allows both retail and online sports betting at the state tribal casinos, plus a few other off-track betting and lottery venues. They plan to ask for a $100,000 licensing fee, with $750,000 every five years as renewal fees. This bill excludes commercial casinos.
As for the other bill, it gives exclusive sports betting to tribal casinos and tribal land, which may possible allow both retail and online betting. The committee will be meeting to discuss these bills, while a public hearing will also happen towards the end of the month. After which, legislators will have until June to pass or fail the bills.
Of course, the earning potential of a sports betting industry limited to just retail will not be as high as offering more options. Online bookie sportsbook sites like Price Per Player bring in a lot of action across the world. So for Connecticut to enjoy a truly robust sports betting industry, they will need to make their bills more modern and commercially available.