Connecticut pulled in about $1.7 million in first month of online gambling and sports bets
HARTFORD, Conn. (AP) — Connecticut collected about $1.7 million during its first partial month of legalized online gambling and sports wagering, Gov. Ned Lamont announced Wednesday.
The figures represent the state’s share of revenues collected Oct. 12-31.
Roughly $1.2 million came from the state’s portion of online casino gambling revenues generated by the Mashantucket Pequot and Mohegan tribes, while approximately $513,000 came from sports betting revenues generated by the tribes and the Connecticut Lottery Corporation.
The money will be deposited into the state’s general fund.
Under the state’s new legalized system, Connecticut collects 13.75% of gross gambling revenue from sports wagering, and 18% from online casino gambling until 2026, when the rate increases to 20%. The state does not receive any payments on sports wagers placed at the southeastern Connecticut casinos owned by the two tribes, which currently have opened temporary sports book facilities.
The nonpartisan Office of Fiscal Analysis has projected that Connecticut could receive a total of nearly $30 million in revenue from sports betting and online casino gambling in the current fiscal year, which ends June 30.
More: After 25 years in Connecticut, what's next for Mohegan Sun?
Lamont said the state is “off to a great start.” His spokesman Max Reiss said the administration expects revenues will grow as more people understand how the new marketplace works.
This article originally appeared on The Bulletin: Conn. made $1.7 million in October online gambling and sports bets
