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Ah Vermont Lawmaker-commissioned study of sports betting suggests legalizing industry 2023 And provide a roadmap for how to do it.
But so far not one of r 87 Bills proposed since lawmakers convened for the 2023-2024 legislative session address that.
Sports Betting Study GroupThe report concludes that states will benefit from the regulated tax revenue and player protection that online VT sports betting can provide. Although no sports betting bill has ever passed the commission, this is his second government-commissioned gambling investigation in two years.
Contact: Sports Betting Research Under Review
Rep. Thomas Stevens, The chairman of the Lottery Oversight Board said: legal sports report He is still reviewing the study and declined to comment further.
He is one of several lawmakers questioning the expansion of Vermont’s limited gaming market. Governor Phil Scott open to considering it. Scott commissioned an earlier study of industry regulation and produced similar results.
“The Vermont Senate has a history of supporting the creation of a legal framework for sports betting in our state. To do.” Senator Philip Barthes, served on the appropriations committee that approved the study. We are encouraged that the Review Board has reached consensus on recommendations for the way forward. We welcome these recommendations and look forward to continuing the discussion in her next two years. ”
Vermont Sports Betting Survey Key Findings
Based on information gleaned from nearby legal sports betting states, this report provides some key recommendations for the potential structure of Vermont’s sports betting market.
- Vermont is a mobile-only sports betting market, at least initially, as there are no tribal or commercial casinos or racetracks that might host retail sportsbooks.
- A “national marketplace” that allows between two and six operators through a competitive bidding process, rather than creating a game control board that licenses each operator one at a time.
- task liquor lottery shop Reports suggest it could allow for a quicker launch than if Vermont had to create a new gaming-focused agency.
promotion in the air
The study noted differences between states in allowing sportsbooks to deduct promotional bets from taxable earnings, but did not make formal recommendations on tax incentives. However, Congress recommended setting a minimum tax rate.
It also recommended that state lotteries should refrain from offering their own sports betting products.
“The Commission analyzed states that have established their own gambling platforms and found that those states suffered from slow implementations, low customer engagement and low revenues,” the study said. I’m here.
Last Northeast Holdout in Vermont
Vermont is the only state in the Northeast that has not yet legalized sports betting. Here’s the legal gambling situation in other parts of New England.
rhode island
Casinos in Rhode Island, the first New England state to participate in sports betting, began betting in late 2018. IGTMore When William Hill.
new hampshire
New Hampshire has tweaked its sports betting laws several times since legalizing sports betting in 2019. Like Rhode Island, New Hampshire has his one online sports betting provider. draft kings and the national lottery.
connecticut
Connecticut is also a New England state, and its lotteries operate mobile products. However, the state offers multiple sports betting apps. Unlike Vermont, its legislators had to navigate federally recognized tribes with interests in games that required federal approval.ever since 2021, fan duel And DraftKings offers sports betting through partnerships with these tribes, while SugarHouse Sportsbook and state lotteries operate their own products.
maine
Maine legislators have successfully navigated obstacles with federally recognized tribes to legalize sports betting in 2022. The change will allow up to four online sportsbooks, which regulators hinted at later this year, but there’s no timeline for launch yet.
Massachusetts
Massachusetts was the last New England state outside of Vermont to legalize sports betting, after years of disagreements over tax rates and advertising restrictions.Online betting will start early marchRegulators are scrutinizing businesses thoroughly and may impose even stricter advertising restrictions.
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