Connecticut Sports Betting Laws: Analyzing Proposed Changes

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00:00Potential changes also in the northeast, and these are some that are coming in Connecticut,

00:04not of the tax variety, but some of the hold variety. So, Pat, let's explain exactly what

00:09that is and why Connecticut is trying to get this done. Yeah, there's a lawmaker up in Connecticut

00:14who just filed, it was five bills, just kind of to clean up the initial sports betting act,

00:20one of which is setting a maximum hold. He doesn't set a number, which I think is kind of

00:25interesting. He's just like, hey, let's put a maximum hold, which is how much money the sports

00:30books can keep winning, essentially. And I think through the lifetime since it launched in 2021 is

00:36about 10.4%, which when you look at kind of the national averages, that's pretty on par.

00:42So, you got to wonder where they would put that number then. Is it 10%? Who knows? So, there's

00:48that. Another one of the five is allowing users to be able to opt out of seeing certain bets,

00:57which I thought was kind of interesting. Then there was cleaning up language when,

01:01if a sports book recognizes an error, they have to notify the better, they have to void it,

01:06they have to refund it. So, just kind of cleaning up that language. And then also of note is he

01:12filed a bill to allow for interstate or in-state collegiate betting. So, that has not been allowed

01:19in Connecticut, which I can imagine come March, UConn fans would probably want to get some action

01:24down on the Huskies. They can't do that, but this bill would allow for that. So, these are five

01:29bills that are going to kind of see where they go, what happens. Unlike this giant bill in

01:33Massachusetts, this is five separate bills. So, each one can go their own way and it's not all

01:38packaged together to see what happens. So, it'll be interesting to see which ones kind of get

01:42through. Maybe they all do, maybe none do, maybe one or two do. Who's to say? Again, another bill

01:48was filed that came through today, which was also interesting, especially given the draft kings in,

01:54what was it, Delta? I forget which airline they partnered with. This bill was filed to allow for

02:01in-air betting in Connecticut, which I don't know how that works out. I haven't read the bill yet.

02:07I mean, that seems to open a lot of can of worms with crossing borders and whatnot. So, it'll be

02:12interesting to see what actually comes of that, if anything. So, a lot of bills, again, filed in

02:17Connecticut. So, a lot of action is going to be up here in the Northeast, and I think we'll talk

02:22probably Monday about some of the bills and stuff filed in New York. Lots of stuff going on there.

02:27So, the Northeast is going to be very active in the session this year. What it all means and what

02:32passes and what kind of discussion points come out of it will certainly be interesting.