Vermont’s journey toward legalizing online sports betting is gaining momentum as the Senate Economic Development, Housing, and General Affairs Committee introduce crucial changes to House Bill 127. This legislation, championed by Representative Matthew Birong and nine other House members, successfully passed the State House of Representatives last month. Now, it’s the Senate’s turn to shape the future of sports betting in Vermont.
Senate Committee Amendments:
The Senate’s Economic Development, Housing, and General Affairs Committee took up House Bill 127 and made significant amendments. These changes addressed key aspects such as advertising, operator fees, and responsible gambling measures.
Committee Approval:
Following deliberations, the Senate committee voted in favor of HB127 with the proposed amendments, passing it by a margin of 4-1. The bill now proceeds to the full Senate for approval.
Operator Fees:
The bill introduces annual fees for operators based on the number of operators in the market. These fees are structured as follows:
$366,666 per operator for two operators
$412,500 per operator for three operators
$343,750 per operator for four operators
$330,000 per operator for five operators
$320,833 per operator for six operators
Advertising Restrictions:
The Senate committee included provisions to restrict sportsbooks from advertising during events primarily intended for individuals under the age of 21. Sportsbook operators are also required to submit annual marketing strategies to the state, demonstrating their commitment to preventing their advertising materials from reaching minors.
Responsible Gaming:
The Senate committee emphasized the importance of responsible gaming. Sportsbooks will be required to promote responsible gambling and provide resources for those seeking assistance in managing their gambling activities.
Problem Gambling Fund:
As part of their amendments, the Senate committee directed the Vermont Department of Liquor and Lottery, the potential regulator of expanded gaming under HB 127, to allocate 5% of sports betting receipts to fund programs aimed at addressing problem gambling.
The progress made in Vermont towards legalizing online sports betting is evident in the Senate’s proactive approach to amending House Bill 127. With careful consideration of issues like operator fees, advertising regulations, and responsible gaming, Vermont aims to create a robust and responsible framework for sports betting that prioritizes the well-being of its residents. As the bill advances to the full Senate, it represents a significant step forward in the state’s pursuit of a regulated online sports betting industry.