Vermont legalised daily fantasy sports

vermont

Credits: VTDigger.org

The governor of the Green Mountain State signed the bill that legalises and regulates DFS operations.

US.- Governor of Vermont, Phil Scott, has finally signed a bill that legalises and regulates daily fantasy sports (DFS) activity in the state. With this new approval, the number of states that offer DFS in the country rises to 12.

Back in May, it was reported that Vermont had been approved by both the Senate and the House of Representatives and it only needed the signature to come into force. As news outlet Legal Sports Reports published recently, spokesperson for DraftKings and FanDuel said in a statement: “More than 100,000, and growing, fantasy sports fans can now breathe easy, as the state has made it crystal clear: fantasy sports are welcome in Vermont On behalf of those fans, we want to thank Governor Scott and the legislature, particularly Senators Kevin Mullin and Dick Sears and Representatives Bill Botzow and Michael Marcotte —  for updating state law to affirm fantasy sports are legal and establish some common-sense regulations for all companies to ensure consumers are protected.”

Moreover, the spokesperson said that the companies look forward to continuing to work with the Governor’s team, the Attorney General Donovan and member of the legislature on a final, comprehensive regulatory and tax structure.

States like Illinois and Alabama have been moving forward with their respective bills to legislate the activity in the states. The bill in Illinois passed the Senate by 42-10, and under the Illinois legislature, DFS and iGaming operators would contribute to the state’s funds following a standard measure based on gross revenue. Companies that gather over US$1 million would pay 5 percent of total gross revenue; those that exceed US$1 million up to US$3 million would pay 7.5 percent of gross revenue; for gross revenues from US$3 million to US$8 million, operators would pay 10 percent of it, and finally, when they gather over US$8 million they would pay 15 percent of gross revenue.

So far, the twelve states that legalised the gambling activity are Kansas, Maryland, Indiana, Missouri, Arkansas, Mississippi, Massachusetts, Tennessee, Colorado, Virginia and New York.