Vermont legalises online sports betting
Governor Phil Scott has signed HB 127 into law.
US.- Vermont sports betting has become legal after Governor Phil Scott signed HB 127 into law. Vermont is the third US state to legalise online sports betting in 2023, following Kentucky and North Carolina (which also legalised online betting this week).
According to a regulatory schedule laid out in the Vermont bill, residents of the state will be able to access online offerings by January 2024. HB 127 face a lengthy path after some Senate amendments. It was filed by representative Matthew Birong and nine other House members.
Betting will be regulated by the Department of Liquor and Lottery, which will grant a minimum of two and maximum of six online sports betting licences. There is no brick-and-mortar sportsbook element in the bill.
The Senate amendments clarified a tiered structure for licensing fees depending on how many operators are awarded a contract: two operators would pay $412,500 per operator; three operators, $366,666 per operator; four operators, $343,750 per operator; five operators, $330,000 per operator; six operators, $320,833 per operator.
Operators interested in launching in the state will need to offer at least 20 per cent of gross gaming revenue to the state in order to be considered.
Scott said in a news release: “I first proposed Vermont legalize sports betting several years ago and I’m happy the Legislature has come to an agreement, as well. We know many Vermonters already participate in the marketplace and bringing it above board provides important resources and consumer protections. Vermont now joins many other states who have made this move, and I want to thank Commissioner Knight and her team, as well as members of the Legislature for their collaborative approach on this issue.”
