Vermont’s Sports Betting Legislation Advances with Senate Amendments
Montpelier, VT – Vermont is on the cusp of legalizing sports betting, with the state Senate recently approving House Bill 127 (HB 127) after incorporating several amendments. The bill now returns to the House for concurrence before proceeding to Governor Phil Scott for final approval.
Senate Majority Leader Alison Clarkson highlighted the benefits of legalizing sports betting, emphasizing consumer protection, revenue retention within the state, and the transition from illicit to regulated markets. She noted that over the past six months, approximately 16,000 Vermonters attempted to access online sports wagering in neighboring states, underscoring the potential revenue loss to Vermont. (playusa.com)
The Senate’s amendments to HB 127 include:
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Fee Structure: Adjusting the licensing fees to generate more revenue per operator over multiple years.
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Advertising Regulations: Eliminating a cap on advertising expenditures, allowing the Department of Liquor and Lottery (DLL) to negotiate terms with operators. Advertising on college campuses is now prohibited, and marketing targeting individuals under 21 is banned. Operators must submit an advertising plan as part of their application.
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Revenue Allocation: Modifying the distribution of funds to the problem gambling program.
- Penalties: Establishing fines for sportsbooks operating illegally within Vermont.
The bill authorizes online-only sports betting, with the DLL overseeing the selection of two to six operators through a competitive bidding process. Each operator is required to share at least 20% of revenue with the state, with the possibility of negotiating a higher percentage. An initial licensing fee of $550,000 per operator is set, covering a minimum of three years. The minimum age for participants is 21, and betting on in-state college teams is prohibited, except during tournaments like March Madness. The bill also establishes a problem gambling program funded by 5% of sports wagering tax revenue. (playusa.com)
If the House concurs with the Senate’s amendments, Governor Scott is expected to sign the bill into law. The projected timeline for launching sports betting in Vermont is as follows:
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May: Governor signs the bill into law.
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July: Request for Proposals (RFPs) issued to operators.
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August: Operators submit bids.
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September: DLL selects operators.
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October–December: Contract negotiations and execution.
- January: Launch of Vermont sports betting.
This legislative progress positions Vermont to join the growing number of states offering legal sports betting, aiming to capture revenue currently flowing to neighboring jurisdictions and enhance consumer protections.
Vermont’s Sports Betting Legislation Advances:
- Vermont Sports Betting Bill Advances With Senate Amendments
- Vermont Sports Betting Bill Prepped For Senate Passage
- Vermont Becomes Second State To Pass Sports Betting Legislation In ’23
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