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Foxwoods is not likely to offer legalized in-person sports betting some time in 2019.
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Lawmakers in Connecticut were set to push ahead with legalizing sports gambling in the new legislative session that began January 9, however, there has been many obstacles standing in the way since that time, especially as it relates to the Tribe's roll in sports betting expansion.
Should a bill become law, Foxwoods and the Mohegan Sun would likely be the only establishments offering sportsbooks in the state. Lawmakers would also determine a legal framework such as whether gamblers would be authorized to place bets on local college teams such as UConn during the College Basketball season and if remote/online/mobile sports wagering would be permitted.
Offshore sportsbooks are already accessible to Connecticut residents 18 years or older and do not report winnings to tax authorities such as the IRS.
“We will get it done. We have to get it right,” said House Minority Leader Themis Klarides, R-Derby, adding, “I’m more than happy to sit down and negotiate what it looks like without having a full-blown study on it.”
The state would also decide upon a tax for operators. Neighboring Rhode Island has two sportsbooks that pay over half their revenue in a form of taxation (not specifically classified as a tax however, but it essentially is). New Jersey taxes at 11% for in-person betting, slightly more for online.
Gamblers would be expected to pay as much as 24% in taxes to the federal government and potentially more to the state of Connecticut.
- Aaron Goldstein, Gambling911.com
