Lawmaker Proposes Five New Bills That Could Transform Connecticut Sports Betting

Lawmaker Proposes Five New Bills That Could Transform Connecticut Sports Betting

Connecticut sports betting could undergo significant changes if five new bills submitted to the state legislature become law.

Among the notable changes the bills propose is a cap on how much revenue sportsbooks can keep.

Breaking down the 5 Connecticut sports betting bills

Bill NumberSummary
5563Would legalize betting on in-state college teams at all times, not just during tournaments.
5564Would implement a cap on how much revenue (hold) a sportsbook could retain.
5565Would let bettors self-exclude from certain bet types and sports.
5778Would require that all bets have a two-way market.
5779Would make sportsbooks refund bets impacted by an error.

The wording for each of the Connecticut sports betting bills is very brief. Consequently, few details exist for the proposed law changes. Gaming Today reached out to Rep. Tony Scott, the bills’ sponsor, for comment but did not receive a response.

Still, here are some of the highlights from the text of the bills:

  • Current law allows sportsbooks to offer bets on in-state college teams only if the teams are playing in a tournament.
  • The cap on revenue does not mention a specific percentage or dollar amount.
  • The error law would pertain only to errors made in bets before the competition starts.
  • Bill 5565 mentions that bettors would have the option of limiting sports, sporting events, and types of wagers, presumably as a way to help bettors curb any problem gambling tendencies.

In a broad sense, the proposed sports betting law changes seem to be a net negative for sportsbook operators. A cap on hold would be the first of its kind in the nation and would certainly draw considerable pushback from sportsbook operators.

Additionally, allowing bettors to choose which sports, competitions, and types of bets they see may cut down on the handle sportsbooks get each month.

However, from a responsible gambling perspective, the option to block certain sports, events, and bets would be a positive feature for bettors prone to problem gambling. Additionally, the bill adding pre-competition error refunds is another bettor-friendly regulation.

Massachusetts sees push for regulatory overhaul, too

Connecticut isn’t the only state this month where lawmakers have proposed bills that would bring significant changes to their sports betting markets.

Legislators in Massachusetts proposed a bill that would impose unprecedented actions in the state:

  • Increase the sports betting revenue tax rate to 51% from 20%.
  • Require daily and monthly betting caps if sportsbooks can’t verify that a user’s monthly bets don’t exceed 15% of what’s in that user’s bank account.
  • Prohibit in-play and prop bets.

The drastic moves that Connecticut and Massachusetts lawmakers are proposing come just a few months after Sen. Richard Blumenthal (D-CT) and Rep. Paul Tonko (D-NY) introduced the Supporting Affordability and Fairness with Every (SAFE) Bet Act. The SAFE Bet Act would outlaw sports betting nationwide and instead require states to submit an application to the attorney general if they want to offer legal sports betting.

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