The law directs the Department of Liquor and Lottery to establish minimum standards for regulating sports wagering via contracts with operators and have regulatory authority over the sector of the industry.
By Brent Addleman | The Center Square
Vermont residents will soon be able to place mobile sports wagers.
Republican Gov. Phil Scott signed House Bill 127 on Wednesday, authorizing the state’s Department of Liquor and Lottery to allow up to six companies to operate online wagering platforms for residents aged 18 and over.
“I first proposed Vermont legalize sports betting several years ago, and I’m happy the Legislature has come to an agreement, as well,” Scott said in a statement. “We know many Vermonters already participate in the marketplace, and bringing it above board provides important resources and consumer protections. Vermont now joins many other states who have made this move.”
According to a fiscal note attached to the bill, the Joint Fiscal Office set a $2 million revenue estimate for the bill in fiscal year 2024, and fiscal year 2025 could see anywhere between $4.6 million and $10.6 million.
Under the fiscal note, $250,000 is appropriated in fiscal year 2024 from the Sports Wagering Enterprise Fund to the state’s Department of Mental Health to create and run a problem gambling program. For initial costs, the bill directs $550,000 from the wagering enterprise funds to start the program prior to fees being collected.
Additionally, according to the note, $100,000 from the wagering enterprise fund will be used by the Agency of Digital Services for a self-exclusion program. The bill would also collect an initial $550,000 in operator fees. Those funds may not be assessed more than once in a 3-year period.
The law directs the Department of Liquor and Lottery to establish minimum standards for regulating sports wagering via contracts with operators and have regulatory authority over the sector of the industry. The department also creates revenue-sharing agreements with operators.
With Scott’s signature on the bill, 38 states have approved mobile sports wagering. Mobile sports wagering is legal in Connecticut, Massachusetts, New Hampshire, and Rhode Island. Maine is considering legislation on the issue.
Our path to affordability.
Any winnings will be reported to the Tax Department. I’m sure that was in the agreement as well.
In a state that’s become totally bankrupt of morals WHY NOT….push gambling, prostitution, mental illness gendering, death to the unborn and elderly, No sense in stopping now…
Our laws should support and mirror natural laws. They should help people do the right things and discourage the wrong things.
We say it’s ok to to do drugs, it’s ok to and encouraged to have wanton sex anyway possible, there are no crimes, you will own nothing and be happy.
We fill the coffers of drug pushers, big Pharma and demand our food to be organic, but pump our kids with 76 vaccines?
Our state is run by grifters under the guise of non-profits filling their salaries and bank accounts, but because we say they are non-profits it’s all good. Meanwhile as just one example, planned parenthood buys the entire Democratic Party of Vermont. Oh and how could we forget that our Washington representative bailant was bought for use by one person for a million dollars.
Nothing to see here, carry on Vermonter, nothing to see here.
You are absolutely correct.