A bill sponsored by the Connecticut house general law committee could seek to place a maximum amount on wagers for online sports betting.
SB01464 was introduced and referred to the senate joint committee on general law on Thursday (6 March). While the primary goal of the bill is to empower Connecticut to join the Multi-State Internet Gaming Agreement (MSIGA) for online poker, farther down is a clause that reads: “The maximum sports wagers established for online sports wagering in regulations adopted pursuant to section 12-865, as amended by this act.”
In the “Statement of Purpose” at the bottom of the bill, the last two points read:
(C) disclose the maximum sports wagers established for online sports wagering; and (3) require the Commissioner of Consumer Protection to adopt regulations establishing maximum sports wagers
for online sports wagering.
There is no mention in the bill of a potential maximum amount.
Connecticut handle trending up
Connecticut has three online sportsbooks: FanDuel, DraftKings and Fanatics. FanDuel and DraftKings are tethered to tribal gaming operators while Fanatics operates through the Connecticut Lottery.
The Nutmeg State has generated more than $6 billion handle since launch in October 2021. More than 95% of that was bet online. Handle is trending upward, with the state’s top five all-time monthly handles each occurring from last September through this January.
SB01464 includes new text crafted for online poker as part of a “peer-to-peer casino game”. That is defined as a “card game, contest or tournament, including, but not limited to, a poker game, contest or tournament”. It allows patrons to “compete against one another and do not compete against the licensee operating such game”. The licensee operating those games “assesses any fee associated with such game”.
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