Vermont sports betting bill passes the state House
House Bill 127 heads now to the Senate.
US.- The state House of Representatives has passed a bill to bring sports betting to Vermont. House Bill 127, filed by representative Matthew Birong and nine other House members, will now pass over into the Senate. The bill was introduced in January some two months after a study committee recommended Vermont legalise sports betting in the 2023 legislative session.
HB127 would allow up to six sports betting brands to operate online wagering in the state. No in-person betting would be included. 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.
Each licence will carry an annual fee of $275,000. Operators would need to estimate their potential gross sports wagering revenue and propose the tax rate they would be willing to pay in their applications to the Department of Liquor and Lottery. The bill anticipates that the market would generate about $10m annually for the state.
The bill also includes a responsible gaming plan and a plan for maximising sustainable, long-term revenue for the state through a market analysis. Collegiate sports betting would be allowed apart from on events featuring a college team or institution that is located in Vermont.
