Vermont lottery approves sports betting regulations
The state expects to launch sports betting early in 2024.
US.- Vermont’s Board of Liquor and Lottery has approved state sports betting procedures, preparing the ground for what operators the launch of the related market in early 2024. Now that regulations are set, the state can move forward with the request for proposals from potential partner operators.
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.
Lottery commissioner Wendy Knight told the board Monday that staff incorporated some suggested language from the public comments to offer “clarity and didn’t conflict with the law.” The regulator had received written comments from five stakeholders. It says it sees regulation as a living document that can be amended as necessary.
Sports betting became legal in Vermont after governor Phil Scott signed HB 127 into law in June. betting 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.
There is 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; five operators $330,000 and six $320,833.
