Vermont sports betting bill heads the state Senate
The Vermont Senate’s finance committee has approved an amended version of the bill.
US.- Vermont’s Senate finance committee has passed an amended legal sports betting bill, sending it to the Senate floor for full consideration. It had previously been approved by the Senate Economic Development, Housing, and General Affairs Committee. House Bill 127, filed by representative Matthew Birong and nine other House members, passed the state House of Representatives last month.
Betting would be regulated by the Department of Liquor and Lottery, which would grant a minimum of two and maximum of six online sports betting licences. There is no brick-and-mortar sportsbook element in the bill.
When HB127 arrived in committee, the legislation proposed that a single operator would have to pay $550,000 a year, while two operators would prompt payments of $412,500, three would require $366,666, four $343,750, five $330,000, and six $320,833. Senators considered other fee structures before settling on an upfront payment of $550,000, which would cover the cost of regulating the industry.
It will be up to the Department of Liquor and Lottery to negotiate with an operator over the length of their contract and when they would have to pay the $550,000 again. The amendment says bookmakers will not be charged more than once in any three-year period.
The Senate committee included a provision that prohibits sportsbooks from advertising during events that are primarily intended for people under the age of 21. Sportsbooks must also submit annual marketing strategies to the state to demonstrate how the operator plans to prevent its advertising materials from reaching minors.
The Senate committee also incorporated provisions requiring sportsbooks to promote responsible gaming and resources for those who need help in curbing their play. Finally, the Senate committee included a directive that the Vermont Department of Liquor and Lottery, which would regulate expanded gaming if HB 127 becomes law, use 5 per cent of the sports betting receipts it receives for a new problem gambling fund.
