Connecticut sports betting bill would grant leagues’ integrity fee’
A proposed Connecticut sports betting bill would, if passed, grant professional sports leagues the prize they’ve been seeking from the emerging US sport betting market- a cut of the action via, so-called, integrity fees. But there’s a catch in the language of the bill that might test the leagues’ integrity instead.
Under the terms of the bill introduced this week by Representative Joe Verrengia, licensed Connecticut sportsbooks would pony up 0.25 percent of the action they collect to help enforce the integrity of the games being wagered on. The catch here is that the money would go into a partnership between the Connecticut Department of Economic Development and the leagues. That partnership would both enforce integrity and provide funds to Connecticut youth sports; and bring professional exhibition games to a state that has no professional sports teams of its own.
To say that this was not what the leagues had in mind when they first asked for integrity fees is something of an understatement. But, so far, Verrangia says reaction from the leagues has been postive. (Maybe because it’s just one of four potential plans the state is considering.)
Verrengia explained his reasoning saying, “I think there’s a distinct difference here in looking to partner with professional sports teams, and in return they would get up to a certain amount of revenue with the understanding that they would create more of a presence here in the state. I believe we would be one of the first states to engage in a partnership of this kind and magnitude,” according to LegalSportsReport.com.
Verrangia’s Connecticut sports betting bill will be sent to committee sometime next week.
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