Sports betting in Connecticut was legalized in 2021, making it one of the 39 states to permit gambling. Since then, the Connecticut sports betting industry has grown significantly, offering more than $98 million in revenue over the last fiscal year.Connecticut Aims to Bring in Expanded Sports Betting Rules
Now, with the steady growth of the state’s sports betting industry, a few changes are being proposed. Representative Tony Scott has introduced five new bills to expand the Connecticut sports betting legislation. These bills aim to improve fairness and transparency in the state’s sports betting sector while offering more flexibility.Connecticut Aims to Bring in Expanded Sports Betting Rules
Like most US states, Connecticut doesn’t permit betting on in-state college teams. This rule was created to protect the integrity of the game. However, many residents travel across the state’s border to bet on Connecticut college teams.
That’s why this bill was proposed to allow the Connecticut sports betting sector to gain the extra revenue in-state. With the inclusion of this bill into the current sports betting legislation, bettors will be allowed to place bets in-state on sports events in which one or more of the participants are college teams.
Bill No. 5564 aims to place a maximum percentage limit on the hold sportsbooks can generate on online sports betting activities. However, the bill doesn’t state a specific number to serve as the maximum hold percentage.
Furthermore, as revenue is calculated monthly, the bill does not specify on whether the hold percentage will be capped monthly or over an expanded time frame. The hold is determined by sporting results, which makes it unstable. Hence, this bill will likely be opposed by many sports betting brands on the Connecticut sportsbooks list.
Representative Tony Scott introduced bill No. 5565 to establish opt-outs for sports bettors. This provision allows bettors to opt-out of viewing specific sports or events at online sportsbooks. Furthermore, the bill allows bettors to avoid viewing certain types of bets.
Therefore, online sports betting sites are obligated to provide options that allow bettors to opt-out from certain offerings. Overall, bill No. 5565 aims to promote responsible gambling by providing better filter options.
Bill No. 5578 was introduced to expand the available betting options at online sports betting sites. This provision aims to make it mandatory for sports betting sites to offer two-way markets for all sports bets. Two-way markets means bettors will be able to wager on two opposing outcomes in the same sports event.
Currently, bettors can wager on whether a specific team will score within a particular period or not. A two-way market, however, will enable bettors to be able to bet on both outcomes at once.
Lastly, Tony Scott introduced bill No. 5579 to improve the protection of bettors at online sportsbooks. The bill requires sportsbooks to tackle ’known errors’.
This provision means that sportsbooks are to correct all identified errors relevant to a particular sports event, and if necessary, cancel bets placed and refund all wagers to bettors.
Sports betting in Connecticut is undergoing significant changes this year. With the introduction of five new bills by Rep. Tony Scott, the Connecticut sports betting industry is likely to grow even more. These bills aim to expand the available betting options, promote responsible gambling, and improve the safety of bettors at online sportsbooks.
