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Ganim Calls For Legalized Sports Betting

April 24th, 2018 · 6 Comments · National Politics, News and Events, State Politics

With the U.S. Supreme Court expected to issue a decision soon on legalized sports betting, Mayor Joe Ganim on Monday released a statement calling on the General Assembly to pass like-minded legislation in anticipation of federal approval.

Bridgeport Mayor and Democratic candidate for Governor Joe Ganim today called for the Connecticut General Assembly to pass Senate Bill No. 540, AN ACT AUTHORIZING SPORTS WAGERING AND ONLINE LOTTERY DRAW GAMES IN THE STATE. The bill sets up legal, highly regulated, taxable sports betting in Connecticut. If enacted, it is estimated that legalizing sports betting could bring the state another $44 million in annual revenue.  Gaming industry estimates in Connecticut currently show that state residents spend more than $600 million in illegal sports betting, generating some $36 Million in profits for illegal sports bookmakers. Introducing legal sports wagering that could be taxed by the state at a rate of 15% could significantly eat into that black market. Mayor Ganim is calling on the General Assembly to open up another stream of revenue at little or no cost to taxpayers.

“Connecticut residents are already spending hundreds of millions of dollars every year in the illegal black market to bet on sporting events, so why not set up a legal wagering system that we can tax and that is safer for consumers?” said Mayor Ganim. “This fits very well into a comprehensive gaming strategy for Connecticut and could potentially earn the state another $45 million in revenue every year. No one can argue that we need the money, and this will also help spur some additional job creation as well–at no cost to taxpayers. I urge the legislature–before the current session adjourns–open up legal sports betting as another revenue stream for Connecticut as is done currently in nearly 40 countries around the globe.”

Many states considering legalizing sports betting are awaiting a decision by the United States Supreme Court in the case of Murphy v. NCAA in which a federal law banning legalized sports betting except in the states of Nevada, Montana, Delaware, and Oregon is being challenged as unconstitutional by the state of New Jersey. Legalized sports betting is now supported by all major professional sports leagues such as the NBA, NHL, NFL, and Major League Baseball, as well as fantasy sports leagues such as Draft Kings and FanDuel. If authorized nationally, it is estimated that sports betting could generate as much as $150 Billion in profits taxable by states every year.

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6 Comments so far ↓

  • The Bridgeport Kid

    The only upside to illegal sports betting is: the bookies don’t report your winnings to the IRS.

  • John Marshall Lee

    Legalized sports betting (requiring the Legislature to come to a decision), a policy on guns (also requiring Legislature agreement), liberalization of marijuana law, haberdashery competition regarding socks with other gubernatorial candidates?

    Aren’t these the issues driving the citizens of CT’s urban cities crazy? Where is Ganim’s stand on education support by State to cities? Where has it been? Does he know or care? Has he shown any sense of the truth in his recent two years in office? Why would Ganim, the Governor, be different? PILOTS, payments in lieu of taxes, for State buildings at 100% of value can bring in millions to the City. And ECS Educational Cost Sharing with cities with large poor populations at 100% of need would go a long way to solving the red ink on the balance sheet. Why not ask in a loud voice and frequently so that the experience would be unforgettable.

    Was Joe really in New Haven Sunday doing campaign fund raising at an oriental locale for four hours? How are the waters east of Bridgeport for fishing for those $3500 amounts? What winking and nodding can go on to assure that a campaign check will make for a solid investment? Joe doesn’t sit around a collaborative table planning, though some have said that is what he enjoys. Untrue!!!

    It has become clear that Joe has no CT vision. And also has no message f0r financeal realists that he wishes to share with us. Is that a surprise. Will primaries smoke out real competition on subject matter and priority???? One can only hope so. When will the serious talk begin? Time will tell.

  • The Bridgeport Kid

    Sports betting is way more attractive than marijuana as a potentially taxable commodity. Can’t figure that one. Marijuana is not mentioned in Leviticus 10…

  • The Bridgeport Kid

    Connecticut has a budgetary probliem, a big one. Governor Dannell Malloy (a lame duck if there ever was)and a dysfunctional legislature can’t get it together. There’s a deficit so the executive and legislative branches of state government re talking about reinstituting highway tolls because no one wants to deal with the armchair moralists.

    Marijuana has been proven to have hundreds of medicinal uses including the treatment of PTSD and some forms of cancer. Most consumers of marijuana smoke it to get high. Oh dear, can’t have that, it’s a gateway drug, leads to paint sniffing and heroin. Really? Who told you that, Pat Robertson? According to “A Child’s Garden of Grass” the only danger in smoking marijuana is getting busted.

    Legalizing sports betting would not only increase state revenues it would put organized crime on the ropes. Until various state lotteries enacted daily 3- and 4-digit daily draw games the mafia was making tons of money on the numbers racket, bolito snd other games. Now the stated are making money.

    Are either of these options under serious discussion? Noooooo. But highway tolls are. Most people object to those. Of course the legislatute may be playing a game, pushing tolls as a solution until the voting public says “Fuck that shit! Do the weed, do the gambling. Anything thing but those fucking tolls!”

  • charlie

    Legalized sports betting on the internet may violate the compact with the tribes. This would certainly be the case if poker is on the internet. If this would come to pass then commercial casinos would be the next step.

    • The Bridgeport Kid

      According to a story in the Hartford Courant the tribes will be taking over the proposed Springfield, Mass., caino while MGM will be taking over Steve Wynn’s Boston casino.

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