House Bill 127, a pivotal piece of legislation aimed at legalizing online sports betting in Vermont, has taken significant steps toward becoming law. The bill has successfully navigated the state Senate, passing its third reading after undergoing several amendments. This development positions Vermont as the latest state to embrace the burgeoning online sports betting industry.
Key Provisions of House Bill 127:
House Bill 127, spearheaded by Representative Matthew Birong and supported by nine other House members, lays the groundwork for regulating online sports betting in Vermont. Notable features of the bill include:
Regulation by the Department of Liquor and Lottery: The Department of Liquor and Lottery would oversee the regulation of online sports betting in Vermont.
Licensing Framework: The bill outlines the issuance of a minimum of two and a maximum of six online sports betting licenses, thereby allowing a controlled market.
No Brick-and-Mortar Sportsbooks: Unlike some states, Vermont’s legislation focuses solely on online sports betting, with no provisions for brick-and-mortar sportsbooks.
Senate-Introduced Amendments:
During its journey through the legislative process, House Bill 127 faced amendments in the state Senate. Notable amendments include:
License Fee Amendment: The Senate introduced changes to the license fee structure. Instead of tiered annual fees based on the number of operators, a flat upfront payment of $550,000 was established. Operators would negotiate with the Department of Liquor and Lottery to determine when this fee would be due, with a maximum charge once every three years.
Advertising Restrictions: The Senate committee introduced provisions prohibiting sportsbooks from advertising during events primarily intended for individuals under the age of 21. Operators would also be required to submit annual marketing strategies to prevent their materials from reaching minors.
Responsible Gaming Promotion: Sportsbooks would be obligated to promote responsible gaming and provide resources to assist those seeking help with controlling their gambling activities.
Problem Gambling Fund: The Senate committee stipulated that 5% of the sports betting receipts received by the Vermont Department of Liquor and Lottery would be allocated to a new problem gambling fund.
Future Regulatory Timeline:
The bill sets forth a regulatory timeline that envisions residents of Vermont gaining access to online sports betting offerings by January 2024. This roadmap outlines the key milestones for implementing and regulating the online sports betting industry in the state.
House Bill 127’s passage through the Vermont Senate and its expected confirmation by the state House signify Vermont’s progressive stance on embracing online sports betting. The legislation’s carefully crafted provisions, such as a controlled licensing framework, responsible gaming promotion, and problem gambling fund allocation, underscore Vermont’s commitment to responsible and sustainable online sports betting.