The bill legalizing sports betting in Vermont has been passed by the state’s Senate

After undergoing several amendments to the version passed by the House, House Bill 127, which seeks to legalize online sports betting in Vermont, has passed its third reading in the state Senate.

The bill now awaits confirmation from the House before proceeding to Governor Phil Scott for his signature. The governor has expressed his intention to sign the bill. If approved, Vermont is expected to launch online sports betting by January 2024.

Representative Matthew Birong and nine other House members filed House Bill 127, which aims to legalise online sports betting in Vermont. The Department of Liquor and Lottery will be responsible for regulating the industry and granting between two and six online sports betting licenses. The bill does not include brick-and-mortar sportsbooks.

The Senate made several changes to the original bill, including the addition of a license fee to the 20% gross gaming tax. Initially, the bill proposed different fees for different numbers of operators, ranging from $550,000 for a single operator to $320,833 for six. However, the Senate decided on an upfront payment of $550,000 for any number of operators, with the cost of regulation included.

The Department of Liquor and Lottery will negotiate the length of the contract with the operator and the timing of the next payment, which cannot be more than once in three years. The bill will now return to the House for approval before heading to Governor Phil Scott for his signature.

An amendment made by the Senate committee included a provision that prohibits sportsbooks from advertising during events aimed at individuals under the age of 21. Additionally, sportsbooks must submit annual marketing strategies to demonstrate their plan to prevent their advertising materials from reaching minors.

The Senate committee also added requirements for sportsbooks to promote responsible gaming and provide resources for those who need help in controlling their play. Finally, the committee included a directive for the Department of Liquor and Lottery to allocate 5 per cent of sports betting receipts to a new problem gambling fund.

The regulatory schedule outlined in the bill indicates that Vermont residents will be able to access online sports betting offerings by January 2024.