Vermont Sports Betting Bill in Final Stage
Next week, the governor of Vermont is set to sign the Vermont sports betting bill that paves the way for online sports betting sites to operate in the state- hopefully going live before the NFL season ends. While a lot of those who use white label sportsbooks will earn from NFL betting as early as September, it may be a while before sportsbooks in Vermont will be able to do so.
According to the Vermont legislature, H.127, enables legal sports betting through mobile apps and websites. The bill was delivered to the office of the governor on Thursday. A spokesperson for Governor Phil Scott confirmed that he has scheduled the bill’s signing for next week.
Lawmakers anticipate that the state will start accepting the first sports wagers by January of the following year. However, if regulators act swiftly and receive compelling bids from operators, we could see sportsbooks go live earlier. Hopefully in time for some Thanksgiving action. Those who use a pay per head bookie software know that during fall, sports betting tends to be very popular and profitable.
Vermont Sports Betting: What’s in the Bill?
H.127 will basically legalize sports betting in Vermont. The local industry will be under the jurisdiction of the state’s Department of Liquor and Lottery (DLL). The DLL will oversee a competitive bidding process to select two to six operators who will be granted the opportunity to operate online sportsbooks in the state. Meaning sports betting will be accessible through computers, phones, and tablets.
In exchange for a license to operate in the Vermont sports betting market, sportsbook operators will be required to share a portion of their revenue with the state. This tax will be applied to a minimum of 20% of the revenue remaining after paying out winning bets. As well as the federal handle tax. Additionally, operators will be obligated to pay an upfront fee of $550,000. However, if you want to be a bookie, the cost need not be that high. You can find out how with these sportsbook pay per head reviews.
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