In Vermont, the last non-sports betting state in New England, the state Senate approved multiple amendments to a bill and moved it towards a third reading for May 4.
The House threw in some amendments of its own and this is what comes out: two to six platforms, online betting only, just the third state to do so.
Vermont legislators have been discussing and studying the issue of sports betting for several sessions, and this was the first time in which a bill made it to either chamber floor. Lawmakers sought to further strengthen advertising and marketing rules to protect vulnerable parties.
Advertising plans must be approved by the Vermont Department of Liquor and Lottery; no sports betting advertisements on products sold or marketed to those under 21.
“Vermont has been debating the legalization of sports wagering for years,” problem and responsible gambling advocate Brianne Doura-Schawohl told SportsHandle. “They have done their due diligence in studying and analyzing what they feel is best for the state. In its current format, the bill outlines some of the strongest funding provisions for problem gambling in the U.S., and ample customer protections.”
No wagers on Vermont college teams, except for tournaments involving Vermont teams.
Operators do not pay a tax, instead participate in a revenue sharing model which begins with a minimum of 20 percent.
Licensing fees range from $320,833 if six operators are involved and $412,500 if two.
The bill would become effective if and when it clears the legislature and is signed by the governor.
