Vermont is one of the few states left in the country that does not offer sports betting. In fact, Governor Phil Scott has been waiting to sign a bill legalizing sports betting for quite some time now. And if all goes well in the senate, he may just sign one, thus passing the sports betting law in Vermont.
The Vermont House of Representatives have passed H127, a bill introduced back in January that aims to legalize online sports betting in the state. Given how popular the use of a good sports betting platform is, its only natural for the legislature to make way for operators to provide for the demand of sports betting in the state.
H.127 aims to allow between two to six sports betting operators to offer wagering in the state. Each license will cost $550,000 for no less than three years. The state’s Department of Liquor and Lottery will be in charge of regulating the market. The minimum tax rate is at 20%.
Sports Betting Law in Vermont: What’s Next?
Details on the bill may still change while in the Senate, where the bill is now. If the bill passes without any amendments, then the bill will go to the desk of Gov. Scott. However, if the Senate will decide to amend the bill, it will be returned to the House, where they will review and approve the amendments. Once the bill gets approval from both chambers, then it goes to Gov. Scott.
Many in the industry are hoping for the law to pass, so that residents will be able to place wagers from wherever they are. Bookies using sportsbook pay per head software are able to offer their players access to the best betting lines from the comfort of their own homes, on the road, and with any device. It may take some time for Vermont to be able to do this. But the Governor will definitely not delay any effort to do this.