Connecticut Lottery Partners with Rush Street for Sports Betting
Connecticut Lottery Partners with Rush Street for Sports Betting
Connecticut sports betting is going to be a vast market considering the size of the state. DraftKings and FanDuel have already secured market access through Foxwoods Casino and Mohegan Sun, respectively.
According to Connecticut sports betting law, the state lottery will also receive an online skin. The Connecticut Lottery announced that Rush Street Interactive would be the state’s final betting platform on Thursday.
Rush Street Interactive will fit nicely with DraftKings and FanDuel as a worthwhile platform in the state. SugarHouse Sportsbook and BetRivers Sportsbook are owned and operated by Rush Street Interactive.
Details of the Partnership
The agreement between the Connecticut Lottery Corporation and Rush Street Interactive will be a 10-year partnership with $170 million guaranteed in minimum revenue for the state. Additionally, Rush Street will work alongside Sportech to offer retail betting at 10 to 15 locations in the state.
Rush Street will need to work hard to compete with DraftKings and FanDuel, but the company’s reward system trumps both conglomerates. Rush Street Interactive offers the iRush Rewards program, which gives loyal bettors VIP experiences outside of free bets on the sportsbook.
CT Lottery Board Chairman Rob Simmelkjaer was quoted in the press release following the announcement.
“Rush Street Interactive is a respected sports betting and gaming company that has established itself as a leading innovator in the industry. We are impressed not only with RSI’s successes in other jurisdictions, particularly in neighboring New York and New Jersey, but also its commitment to responsible gambling practices.”
Connecticut Sports Betting
Governor Ned Lamont signed sports betting into law on May 27, giving the tribal nations and lottery the right to offer retail and online sports betting. Sports betting is expected to launch in the fall, but it will not be live by the NFL season opener when the Buccaneers host the Cowboys.
Lawmakers aim to launch by the middle of football season, but the projected timeline seems skewed. Based on other legal states, it’s likely that Connecticut sports betting will launch by the end of the regular season or in 2022.
The tribal gaming compact has not been finalized by the federal Department of the Interior, and this is not expected until after week one.
Greg Smith, CT Lottery President and CEO was also quoted in the release. He spoke about why Rush Street Interactive was the group’s choice.
“We look forward to working with the team at Rush Street Interactive. We had 15 quality proposals from well-established gaming companies, and RSI rose to the top through the combination of its experience and commitment to quality products, customer service, and responsible gaming safeguards. We’re excited about this partnership and know our players will be getting an excellent product and customer service.”
During the second quarter of 2021, Rush Street Interactive reported $122.8 million in revenue. This was an 89% increase from the second quarter of 2020.
Rush Street Interactive Richard Schwartz cannot wait to launch in Connecticut. Following the announcement, he said,
“We are very pleased with the continued execution of our business strategy and remain focused on providing a premier user experience for our customers.”
