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1.2 million bets placed in Connecticut during first week of legal wagering

Geolocation security company GeoComply has reported a “strong start,” for Connecticut’s online sports betting and casino market, adding that the data indicates an “appetite” for regulated sports betting in New York.

GeoComply reported that during the soft launch from October 12 to October 19, over 1.2 million betting transactions have taken place. This, when compared with Connecticut’s 3.5 million population, has seen the state ranked 9th in sports betting and casino traffic per capita in the United States.

Connecticut conducted a seven-day soft launch of sports betting and igaming on October 12. Operators then fully launched on October 19.

The Connecticut Lottery Corporation, Mohegan Tribe and the Mashantucket Perquot Tribe are the only groups allowed to operate sports betting in the state of Connecticut.

The Connecticut Lottery Corporation partnered with Rush Street Interactive for the launch of the sports betting services, while the Mohegan Tribe partnered with Fanduel. The Mashantucket Pequot Tribe made an agreement to work with DraftKings.

In addition, GeoComply said that 8% of Connecticut’s wagering traffic came from the south-west of the state, close to New York. This, it said, suggested that New York-based customers may be travelling across state lines in order to place legal online bets – as betting in New York is currently only legal in its upstate land-based casinos.

Chad Kornett, vice president of global government relations at GeoComply, outlined that with online sports betting likely approaching in New York in the coming months, resident bettors should look at regulated play options in the meantime.

“We’ve learned from the New Jersey experience that New Yorkers are clearly motivated to travel locally to bet on sites where proper consumer protections have been put in place that safeguard the integrity of their wager,” said Kornett.

“Connecticut looks to be quickly following a similar pattern: Easily accessed from the New York City area, GeoComply’s data shows 38% of Connecticut’s wagering activity has originated from the southwestern corner of the state along the I-95 corridor.”

Last week, the New York Gaming Commission announced a deadline of 5pm today (25 October) for prospective mobile sports bettors to amend their proposed tax contributions.

The Commission had originally requested applications in July, with a deadline of August 9. Bidders initially offered the state a tax rate of 50%.

“With New York’s roll out of sports betting likely coming in Q1 2022, New York bettors must still seek out other options for safe, regulated play,” read the release from GeoComply.

“Up until this month, the closest option was to head to New Jersey, but that’s now changed with the full launch of Connecticut.”

Source : www.igbnorthamerica.com

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