Sports betting in the US continues to expand

Sports betting in the US continues to expand

Vermont is set to become the next state to pass sports betting in the US as lawmakers filed a new bill to regulate the segment.

US.- The gambling industry continues to expand in the country and sports betting is taking over the US. Vermont has become the latest to push a bill to set rules on the segment, with its own particular regulation.

Senators Dick Sears and Michael Sirotkin filed bill S213, which aims to set only mobile betting. The piece of legislation would set US$100k licencing fees on both suppliers and operators, reported Legal Sports Report.

S213 plans a 10% monthly tax on gross sports betting revenues in the US state. Moreover, a 10% tax on DFS revenues put in place of the existing US$5k annual fee, LSR said. The Board of Liquor and Lottery would oversee the segment, and potential losses would offset operators’ future tax payments.

Sports betting records

As the segment continues to evolve, it manages to thrive nationwide. That’s why Nevada posted record sports betting handle at US$614.1 million last November.

According to state figures, the amount came in as casinos took in US$937.5 million in total revenue.

Moreover, gambling establishments reached a US$31 million revenue, up 14.3% year-on-year. The best performing sport was American football, as it brought US$22.5 million on stakes of US$384.6 million. The second place saw Basketball taking in US$8.1 million from US$399.3 million worth of wagers.

According to state figures, Nevada sports betting had players betting US$11.2m on sports parlay cards. Operators took in US$2.4 million, while casinos made US$4.2 million on US$53.2 million from the rest of the sports.

October figures

According to the Nevada Gaming Control BoardOctober marked the second month in a row in which the state hit the US$1 billion mark in gaming win.

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