Connecticut Pushing Ahead with Sports Betting Legislation

  • Joe Verrengia puts forth a new online sports bill
  • HB 7331 seeks to create a compact with tribes
  • Operators need to pay $100,000 non-refundable fee
  • Licenses issued for a two-year period

Connecticut is back in the center of events with a new sports betting proposal fired up for the state’s lawmakers to consider. Sponsored by the chairman of the Connecticut House Public Safety and Security Committee, Joe Verrengia, the new bill will seek to introduce wagering on both land-based and online betting activities.

Connecticut Takes a Shot at New Online Sports Betting Opportunities

Joe Verrengia, chairman of the Connecticut House Public Safety and Security Committee, has introduced a new bill, HB 7331, which will effectively seek to introduce sports betting to both land-based operators and licensed online businesses.

Control will be enforced by the Connecticut Department of Consumer Protection. Mr. Verrengia has outlined very mild entry costs for any business that wants to start operations in Connecticut. Every operator will need to pay an initial non-refundable fee of $100,000 to start the process.

Shortly after the initial payment, a $500,000 two-year license would need to be paid for as well. Sports betting is not the only license that interested parties would be able to acquire, including a sports wagering vendor licenses going for $300,000 and sports wagering lottery sales agent licenses available for another $250,000.

In each case, an initial fee of $100,000 will have to be paid.

The Essence of Connecticut’s Bill

The new Connecticut bill proposes important changes and builds on previous proposals. As a result, Mr. Verrengia has worked on establishing important aspects of the legislation, such as the legal gambling age as well as the available tax rates and to whom the money would be going to:

  • Legal gambling age – 21
  • Tax rate – 9.89%
  • Money allocated to – Connecticut General Fund, Sports Wagering Account
  • Regulated by – the Department of Consumer Protection

There’s also a legal wrinkle that explains that at the end of each year, 0.5% will be donated directly to CT five Regional Behavioral Health Action Organizations, which will be addressing issues, such as gambling addiction. The other 0.5% will be deposited directly into the General Fund.

The Tribes Are Welcome to Join and Work Together

Enjoying the support of CT governor, HB 7331 is also offering private operators to partner up with the Mashantucket Pequot and Mohegan tribal casinos available in the casino. This would necessitate to change the existing compact that the tribes have formed by themselves. Mr. Verrengia by themselves.

Integrity fees are also part of the offer, but Mr. Verrengia wants to see the Connecticut Commissioner of Economic and Community Development collaborate with main sporting bodies so any proceedings from sports betting can be used in a meaningful way. True, there are still hurdles, but the prospects seem promising altogether.

With the basic plan paid out, what follows is for Mr. Verrengia to push the bill successful through the House Public Safety and Security Committee which he presides himself. The next steps will be in the House, the Senate and finally in the governor’s office.

Carmen Thompson

Carmen is our residential reporter always on the move and hunting down the latest scoops and rumours to explore. Nothing gets past her keen nose, especially when it comes to some serious Jelly Bean poker tournaments.

Brazil Gets a New Casino Bill, Approval Awaited

  • New bill introduced in a bid to legalize gambling
  • The combined legal and illegal market in Brazil hits R$50bn annually
  • A total of 32 casino properties could open in Brazil should the bill be voted and approved

Brazil is getting closer to a fully regulated sports betting industry that would potentially cater to millions of sports betting enthusiast in one of the largest untapped markets in the world. Now, a new bill targeting casinos is on the cards.

Land-Based Casinos a Reality in Brazil

Brazil is almost done regulating and establishing its sports betting industry, and now that this is sorted, casinos are next on the line. Brazilian Chamber of Deputies Member Paulo Azi has submitted a new bill titled PL530/2019.

The purpose of the document is to see the casino industry in the country fully legalized, albeit with a few wrinkles that would need to be observed. The bill suggests the expansion of Integrated Resorts (IR), similar to what Japan is currently planning on building.

On the territory of integrated resorts, businesses would be allowed to run casino gaming, which would account for 10% of the available space. As is customary for such projects, more properties will be introduced, including shopping centers, theme parks, spas, and more.

Reading the Bill Up Close

Presently, the bill envisages such resorts to be built based on the population of individual states. As per PL530/2019:

  • States with population <15 million – A maximum of one IR
  • States with population 15 -25 million – A maximum of two IRs
  • State with population >25 million – A maximum of three IRs

In total, the Bill would allow 32 such properties to open, offering plenty of wiggle room for potential investors to make up their minds. Each IR would be granted a license for 30 years of operation and obtaining such a license would be allocated through a tender process.

In terms of tax, the law is rather accommodating towards the casinos with only 10% of their Gross Gaming Revenue (GGR) being paid as tax. The proceedings will be divvied up between Brazil’s General Tourism Fund and the National Public Security Fund.

Curbing Illegal Gambling

Mr. Azi has explained that the rise of gambling in Brazil was undeniable. The industry is already relevant to the country, but laws have so far failed to establi a working framework. Based on his statement, the combined illegal and legal gambling markets in the country account for R$50 billion each year.

He believes that stopping illegal gambling would lead to boosting the overall finances of the government. Furthermore, a legalization of the industry would mean new job opportunities in cities hosting the Integrated Resorts, Mr. Azi explained.

Should Mr. Azi’s plan garner governmental support, it will become the second important development for the gambling industry in the country. In December, the outgoing President Michel Temer signed PL846/2018 opening up the way for sports betting in the country.

Sophia Rojas

Growing up around law firms, Sophia keeps our team of reporters atop any legislative developments to follow up with a welcomed dose of positive news as our house trivia nut!

Virginia’s Sports Betting Bill Gets Senate Approval

  • Sen. Louise Lucas’ bill gets Senate Committee approval
  • Casinos to pay 10% tax on gross revenue
  • More tax will be paid to the State Local Casino Gaming Proceeds Fund to be established at a later point
  • Casinos will have to pass a city-wide referendum before they can open in their chosen locations

Virginia is gearing up for sports betting. The Senate Committee on General Laws and Technology has passed a sports betting bill introduced by Democrat Sen. Louise Lucas. This is a continuation of the efforts that were announced in December.

Senator Louise Lucas’s Bill Gets the Go-Ahead

Democrat Sen. Louise Lucas proposed a plan for the legalization of the sports betting industry in Virginia, which has got approved by the Senate Committee on General Laws and Technology.

This is big, and it enables Virginia to start edging closer to the ultimate goal, which is to introduce its own sports betting facilities across the state. There’re a few wrinkles to settle first, though. From Connecticut, to Kansas, to Kentucky, states have been on the move, pushing ahead with their own efforts to see their industries through – and now Virginia is all good to go, well – almost.

According to SB1126 (a bill unifying two previous bills, i.e. SB1503 and SB1706) legalizing the industry would be used as a way to curb unemployment and bolster the state’s coffers. The document states that in order to qualify, a city will need to meet a mix of social & economic criteria:

  • Unemployment rate of 4%
  • Poverty rate of 20%
  • Population decline of 7% between 1990-2016

The bill is also pre-emptively targeting the issue of tribal gaming, allowing tribes to operate in any city with population of 200,000 or above. The cities will also have to have already exempted 24% of all real estate from the local property tax.

All Games Coming to Virginia’s New Regulatory Climate

The bill offers details about the industry in full. Spanning 22 pages, all games will be part of the gaming climate, including slots, table games, and most importantly – sports betting. However, the measure to introduce casino will not rest solely with lawmakers.

A city-wide referendum would have to be held before a casino can open. Once a property has been set up, it will have to pay 10% tax on its Gross Gaming Revenue (GGR). The revenue will the be divvied up by several state funds, including:

  • State General Fund – the reminder of non-allocated funds
  • Virginia Public School Construction Grants Program and Fund – 50%
  • Problem Gambling Treatment and Support Fund – 1%
  • State Local Casino Gaming Proceeds Fund – to come later

The last hurdle ahead of the bill is to clear the Senate Finance Committee. Given the solid support among lawmakers, SB1126 is on its way to completely change the game for gaming in Virginia.

All things considered, Virginia is truly surging towards good times for its betting industry, which is only now spreading its wings.

Aran Malik

“Magic Malik”—as we like to call him—is not only a tech whiz but a wizard when it comes to getting obscure news hot off the press so we know exactly what’s happening and can explore and report it back to our growing and loyal readerbase.