The Connecticut Lottery Corporation (CLC) is looking to grow its share of the state’s sports betting market with Fanatics Betting and Gaming as its new partner.
Fanatics has been selected as the Connecticut Lottery’s exclusive sports betting partner for retail and mobile channels following a request for proposals in April, with the Lottery’s wagering operations scheduled to transition to the Fanatics Sportsbook in mid-December.
Fanatics replaces the CLC’s former sports betting partner Rush Street Interactive.
“Fanatics is the only true sports brand in the gaming space and has established itself as an innovator in the industry,” said Greg Smith, president and chief executive of the Connecticut Lottery Corporation.
“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.”
The sports betting contract is valid for eight years and includes an option for the CLC to extend the term for an additional five years.
“We are excited to be working with the CLC to bring the Fanatics Sportsbook to customers in Connecticut,” said Ari Borod, chief business officer at Fanatics Betting and Gaming. “We are looking forward to bringing the Fanatics experience to the ten retail locations throughout Connecticut and more importantly, adding our innovative mobile app to the online choices available in Connecticut.”
Players in Connecticut wagered $181 million on sports in September 2023, the latest month for which figures are currently available. Online betting accounted for the bulk of total handle at $170.2 million, of which the CLC held a 9 per cent share at $15.4 million, behind market leaders DraftKings and FanDuel.