Fanatics Betting and Gaming agrees Connecticut Lottery partnership
Sports betting operator replaces Rush Street Interactive as exclusive partner of Constitution State lottery
Fanatics Betting and Gaming (FBG) has agreed to become the new sports betting partner of the Connecticut Lottery Corporation (CLC).
Under the terms of the partnership, Fanatics Sportsbook will serve as the CLC’s exclusive sports betting partner across both online and retail operations in the Constitution State.
The duo has confirmed the transition of the CLC’s existing sportsbook to Fanatics will occur in mid-December.
“Fanatics is the only true sports brand in the gaming space and has established itself as an innovator in the industry,” CLC president and CEO Greg Smith said in a statement confirming the partnership.
“We have been impressed with the Fanatics team, their aggressive entry into the US sports betting market, and we are excited to see how they redefine the sports betting customer experience here in Connecticut.
“CLC anticipates notable market share growth as a result of this partnership,” Smith added.
The term of the partnership has not been disclosed by either party, however CLC’s tender process, which began in April, assumed an eight-year term for the business relationship.
Fanatics replaces Rush Street Interactive (RSI) as the partner of the CLC, with RSI ending their 10-year partnership with the Connecticut Lottery prematurely in March after just two years.
As part of the tender process, Fanatics was required to conform to CLC requirements including bonusing engines, risk management software, compliant AML and know your customer (KYC) software, as well as a player account management system compliant with current CLC demands.
Fanatics will now be required to work with RSI to import all player data into its system, as well as creating a messaging and marketing plan to address the transition period.
Connecticut is home to just three licensed operators including the CLC, with DraftKings and FanDuel each partnered with tribal gaming operators the Mashantucket Pequot Tribe and the Mohegan Tribe, respectively.
Fanatics will benefit from the state’s 13.75% tax rate on sports betting, which is one of the lowest in the US.
“We are excited to be working with the CLC to bring the Fanatics Sportsbook to customers in Connecticut,” Fanatics chief business officer Ari Borod said.
“We are looking forward to bringing the Fanatics experience to the 10 retail locations throughout Connecticut and more importantly, adding our innovative mobile app to the online choices available in Connecticut,” Borod added.