Vermont Senate Committee Teaches Finances of Sports Wagers

The Vermont Senate Finance Committee is all that stands between bringing a vote on sports betting in the full Senate. But the committee is being cascaded with all the finances about sports betting money can buy.

Vermont Senate Committee Teaches Finances of Sports Wagers

Oklahoma may have fizzled this year, but Vermont is still kicking. The House approved its bill on March 24 but even more importantly, the legislation remains alive in the Senate Finance Committee, the final stop before the full body gets to vote.

The committee got its initial up close and personal looksee April 18 with hearings with the Department of Liquor and Lottery set for April 19, according to SportsHandle.

If the Senate votes in the affirmative, Vermont could not only be the last New England state to approve sports betting but the second state this year so far, behind Kentucky.

Tucker Anderson of the Office of Legislative Counsel took committee members on a tour of HB 127, which only permits mobile betting and as many as six platforms. Tennessee is the only other state without brick and mortar sportsbooks.

Other questions revolved around how and where winnings were taxed, where fees would be directed, and other fiscal issues.

One senator complained that no mechanism existed to tax winning bettors, bringing up the 51 percent tax so prevalent in New York.

The Vermont Legislature adjourns May 19, giving lawmakers just over a month to send HB 127 to Governor Phil Scott.