In the latest gambling news, we are taking a look at one of the smallest future sports betting markets in the US- Vermont. When it comes to any business, a small customer base still holds potential to provide you a good source of revenue. The case may be true for Vermont. Because despite having one of the smallest populations in the country, there is good demand for sports betting in the state. And thanks to legislators, we are pleased to see the Governor eager to sign the Vermont sports betting bill into law soon.
H.127 is a bill that aims to legalize sports betting in the state. Specifically, online sports betting. Online sports betting is very popular. And this drives a lot of bookies to go online, check sportsbook pay per head reviews, and find online sportsbook software to manage an online bookie business. Similarly, many retail sportsbooks are also investing in online infrastructure to generate more revenue from their online platforms.
The bill was approved by the legislature early in May, and is set to land in the desk of Vermont Governor Phil Scott. Unlike other states, there will be no resistance in passing the bill, so it will just be a matter of completing the procedure.
Vermont Sports Betting Bill Details
Given how popular it is to bet sports online, and the state’s population density, its practical to prefer online sports betting for the state. For Vermont, when the bill becomes law, the Department of Liquor and Lottery will supervise the local market. There will be a bidding process where the department will select anywhere from 2-6 sports betting operators to go live. The state also can just choose one operator, or none, should none of them submit proposals that are satisfactory to the department.
Upon approval, these operators will then pay $500,000 for a betting license, while revenue-sharing will be at a minimum of 20%. The minimum age to wager will be 21, and college sports betting will be allowed. In addition, retail betting remains illegal, since there is no infrastructure to allow for this to happen. And given how affordable it is to use a Bookie PPH Software to run a sportsbook, its much more practical to take the online route, rather than spend millions in a brick-and-mortar site.
Once the Governor receives the bill, he will sign it. He continues to believe that Vermont should join other states in the country that offer sports betting. Governor Scott has been advocating for a legal sports betting market for consumer protection, and is grateful that this will now finally happen.
