The Office of the Attorney General is responsible for licensing and regulating gambling in the state of Connecticut. The following is a guide on how to obtain a sports betting license in Connecticut.
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Introduction
Getting a sports betting license in Connecticut is a two-step process. First, you must obtain a vendor’s license from the Department of Consumer Protection. Once you have a vendor’s license, you can apply for a sports betting permit from the Connecticut Lottery Corporation.
The Process of Applying for a Sports Betting License in Connecticut
If you want to open a sports betting business in Connecticut, you’ll first need to obtain a license from the state. The application process is fairly simple, but there are a few requirements you’ll need to meet. In this article, we’ll walk you through the steps of how to get a sports betting license in Connecticut.
Applying for a License
In order to offer sports betting in Connecticut, tribes and commercial operators must first apply for and be granted a license from the state’s Department of Consumer Protection. The application process is not yet open, but the DCP has released preliminary information about what will be required.
The application fee has not been set yet, but it will be based on the number of locations that the applicant intends to operate. Each location will need to be separately licensed.
All applicants will need to undergo a background check, which will include an investigation into their financial history and any criminal record. The DCP will also consider whether the applicant has “the ability to compact in good faith” with the state – that is, whether they are willing and able to negotiate a gambling agreement that is beneficial to Connecticut.
Applicants will also need to show that they have the financial resources to start and maintain a sports betting operation, including proof of a surety bond or letter of credit for at least $500,000.
The License Application Fee
The cost of the license application fee is $1000
The License Issuance Fee
The cost to apply for a sports betting license in Connecticut is $250,000. The money must be paid upfront and is non-refundable, even if the application is denied.
The License Renewal Fee
The cost for renewing your sports betting license in Connecticut is $250.
The Types of Sports Betting Licenses in Connecticut
There are two types of sports betting licenses in Connecticut, which are the operator license and the platform provider license. The operator license is for the companies that will be running the sports betting operations, and the platform provider license is for the companies that will be providing the sports betting platforms.
Individual Sports Betting License
Individuals interested in obtaining a license to operate a sports betting business in Connecticut must first apply for and obtain a license from the state’s Department of Consumer Protection. The department offers two types of licenses: an operator’s license and a floor person’s license.
Operator’s licenses are intended for those who will be actively involved in the day-to-day operations of the sports betting business, such as managing the placing of bets, maintaining financial records, and coordinating with bookmakers. Floor person’s licenses are for individuals who will be working on the premises of the licensed sports betting establishment but who will not be directly involved in the operation of the business.
To apply for a license, individuals must submit an application form, pay a non-refundable application fee, and undergo a background check. The application fee for an operator’s license is $1,000, while the fee for a floor person’s license is $500.
Business Entity Sports Betting License
The Business Entity Sports Betting License is for businesses that want to open a sportsbook in Connecticut. The license costs $50,000 and is valid for five years. Businesses must have a physical location in Connecticut to be eligible for this license.
The Requirements for Obtaining a Sports Betting License in Connecticut
In order to obtain a sports betting license in the state of Connecticut, interested individuals must first complete an application through the Division of Special Revenue. This application must include various documents and personal information, as well as a non-refundable application fee of $250. After the Division of Special Revenue reviews the application and all required documentation has been received, a background check will be performed on the applicant.
Individual Sports Betting License
To be eligible for a sports betting license in Connecticut, an individual must be at least 21 years old, a United States citizen or legal resident, and have no gambling-related criminal convictions. Applicants must also undergo a background check. The cost of the license is $250.
Business Entity Sports Betting License
To be eligible for a Business Entity Sports Betting License, an applicant must:
1) Submit an application to the Department of Consumer Protection;
2) Be 21 years of age or older;
3) Submit fingerprints and pass a criminal history background check;
4) Pay a non-refundable application fee of $1,000;
5) Be of good character and have a good reputation in the community;
6) Have the financial ability to carry out the business for which the license is sought; and
7 ) Not have been convicted of a felony or gambling-related offense.
Conclusion
To sum up, in order to get a sports betting license in Connecticut, you will need to:
1. Be at least 21 years old
2. Be a resident of Connecticut
3. Register with the state’s Department of Consumer Protection
4. Complete an application for a sports betting license
5. Pay the associated fees
6. Undergo a background check