Vermont lawmaker introduces sports betting bill
The proposal is for online betting only.
US.- Vermont representative Matthew Birong has introduced a bill that would allow up to six sports betting brands to operate online wagering in the state. No in-person betting would be included. The bill anticipates that the market would generate about $10m annually for the state. Betting would be regulated by the Department of Liquor and Lottery.
The proposal has been introduced in the Vermont House about two months after the 2022 Sports Betting Study Committee recommended Vermont look at sports betting in the 2023 legislative session. Vermont governor Phil Scott has indicated that he would support sports betting.
According to the study, Vermont would be “best served by legalising sports wagering” and should establish a state-controlled market. The committee recommended that Vermont adopt a sports betting program similar to New York, Connecticut, and Massachusetts, where the state would select sports betting operators through a competitive bidding process.
House Bill 127 would authorise a minimum of two online sports betting licences and a maximum of six. Each licence will carry an annual fee of $275,000. Operators would have to submit bids to the Department of Liquor and Lottery. They would need to propose an online sports betting tax rate they would be willing to pay to operate in the state and estimate their potential gross sports wagering revenue.
The bill includes for a responsible gaming plan and a plan for maximising sustainable, long-term revenue for the state through a detailed market analysis. Collegiate sports betting would be allowed apart from on events featuring a college team or institution that is located in Vermont.
