Vermont's House Bill H127 passed the House and will now head to the Governor's desk where it is expected to be signed into law.
What is Bill H127?
"Bill H127 is poised to make Vermont just the third state in America with an online-only legal sports betting platform. Just like in Tennessee and Wyoming, there will be no retail sports betting outlets, at least for now. It was originally introduced in January but went through a number of drafts before finally settling on one that the Green Mountain State Senate and House could agree on.
The minimum age to place a bet in Vermont will be 21 and the state's Department of Liquor and Lottery will be in charge of regulation.
HB127 will see up to six betting sites launch in the state. Lucky licensees will be expected to pay a $550,000 initial fee for the chance to operate in Vermont. After three years, those same books will be expected to pay a $110,000 renewal fee annually.
There is a 20% minimum revenue sharing rate that will come along with the licenses and some bets on college sports, with the exception of in-state colleges and universities, will be permitted under the bill. Vermont college programs playing in tournaments like March Madness will be permitted to be bet on."
Expected launch date is January 2024. Read the full story here: https://www.sportsbookreview.com/new...g-may-10-2023/
What is Bill H127?
"Bill H127 is poised to make Vermont just the third state in America with an online-only legal sports betting platform. Just like in Tennessee and Wyoming, there will be no retail sports betting outlets, at least for now. It was originally introduced in January but went through a number of drafts before finally settling on one that the Green Mountain State Senate and House could agree on.
The minimum age to place a bet in Vermont will be 21 and the state's Department of Liquor and Lottery will be in charge of regulation.
HB127 will see up to six betting sites launch in the state. Lucky licensees will be expected to pay a $550,000 initial fee for the chance to operate in Vermont. After three years, those same books will be expected to pay a $110,000 renewal fee annually.
There is a 20% minimum revenue sharing rate that will come along with the licenses and some bets on college sports, with the exception of in-state colleges and universities, will be permitted under the bill. Vermont college programs playing in tournaments like March Madness will be permitted to be bet on."
Expected launch date is January 2024. Read the full story here: https://www.sportsbookreview.com/new...g-may-10-2023/
