Connecticut and Rush Street Partner for Deal

Connecticut continues to move forward with its plans to launch sports betting, and the industry is starting to take shape. There will be three online sports betting platforms available upon launch, and all three of those operators have now been chosen.

The Mashantucket Pequot and the Mohegan Indian tribe have already been approved for a sports betting license by the state. Those two tribes have the ability to partner with an online sports betting operator, and those deals are taking shape.

The Connecticut Lottery has also been given a chance to offer online sports betting, and it has been looking for a sports betting partner. The search is now over as the Connecticut Lottery has reached an agreement with Rush Street Interactive.

Rush Street Interactive is a company that is based out of Chicago, but it is one that has been making some big noise in the US sports betting industry. BetRivers and SugarHouse are two of the biggest names under the Rush Street platform, and this company should become a leader in the Connecticut market.

This deal will span the next 10 years, and it will come with some financial guarantees to the Connecticut Lottery. Rush Street Interactive has agreed to pay at least $170 million over the duration of the agreement, but that number could increase depending on the success of the partnership.

Not only will Rush Street have access to online sports betting in Connecticut, but it can create a monopoly of the retail betting scene. There will be 15 retail locations set up throughout the state, and Rush Street now has the rights to 10 of these spots.

Rush Street is no stranger to the US sports betting industry having already launched in 10 states with legal sports betting. It operates in both New Jersey and Pennsylvania, and that should help as it looks to launch again in the Eastern part of the US. 

Sportech is also a part of this agreement as it will be the company that powers sports betting at the retail locations. 

When is the Launch Date?

Lawmakers in the state of Connecticut have been pushing for a launch date this Fall, and there was hope that it could come before the start of the 2021 NFL season. That season is slated to begin on September 9, and that date is no longer a realistic goal.

Bettors in the state of Connecticut should be able to place a bet on the Super Bowl in February, but that might be the only NFL game that is available to them. There are still a number of steps that need to take place, and the Connecticut Lottery wants to do the launch in a proper manner.

The US Department of Interior has not yet given the final approval to the two tribal gaming compacts, and sports betting rules have yet to be finalized. Both of these steps should occur in the next few weeks, but it will still take some time before everything is launched.

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