The Vermont legislature is moving forward on approving the creation of a committee to study sportsbook options for the Green Mountain state, including how to tax and regulate it. Proponents say the state could reap as up to $4.2 million annually in tax revenues. Two of its immediate neighbors have sports betting and one, Massachusetts, is studying it.
S 59 was approved last week by the Senate Committee on Economic Development, Housing and General Affairs and referred to the Senate Appropriations Committee. The committee vote was held by a teleconference call after the Senate returned from a 10-day suspension due to Covid-19.
The bill, which will go into effect July 1, mandates the make-up of the committee to the state Attorney General, four members of the legislature, the commissioners of Liquor and Lottery and Taxes and the Secretary of Commerce and Community Development. They would be tasked with creating models for sports betting, for example recommending whether to allow sportsbook apps that would allow wagers anywhere in the state. Or whether to limit it to lounges in commercial casinos.
The study would need to be completed and given to lawmakers by December 15, 2020, after which the committee would be dissolved.
Sports betting is supported by Vermont Governor Phil Scott, who supports mobile sports betting and a framework similar to one that was approved by New Hampshire. That state contracted with DraftKings, which pays the state to operate sportsbook within the lottery.
