bscnews304   Album Posted Sep.30th, 2024, viewed 40 times

Vermont Sports Betting Research Council Recommends Legalization

Vermont's 2022 Sports Betting Research Board believes that legalizing and regulating sports gambling is in Vermont's best interest. The Board believes that expanding gambling will create new tax revenues and create new jobs, while protecting consumers who are currently participating through overseas sportsbooks and underground bookies.

The Sports Betting Commission is investigating the advantages of Vermont joining more than 30 other states in the U.S. that have passed legislation regulating sports gambling since its first meeting on Aug. 30, 2022. The nine-member commission included nominees for secretary of state attorney general's office, liquor and lottery committees, tax departments, and state and commerce. Four additional state Senate and House members served on the commission.

Given its widespread participation in sports betting, the General Assembly believes that a careful review of whether and how it is the best way to regulate sports betting in Vermont and protect Vermont residents engaged in sports betting is necessary," the General Assembly formed a sports betting research committee through Act No. 183.

After months of review, the committee released its final report to the General Assembly this week. The document encourages state lawmakers to pass legislation regulating and taxing sports betting.

Recommendations
The 2022 Sports Betting Study made six recommendations to the Vermont General Assembly. The commission recommended that the Vermont Bureau of Liquor and Lottery become Vermont's sports betting management agency.

The Sports Betting Board has also recommended allowing such gambling both online and offline. Vermont does not have commercial or tribal casinos, Paris Mutual Betting Facility or Lacino, so it is unclear where such retail will take place.

The commission also urged the state to hold a competitive bidding process to issue a total of six sports betting licenses.

The commission recommended that sportsbook operators share a percentage of their total revenue with the state, and use a portion of that revenue for responsible gaming programs overseen by the state, in response to the sports betting bill.

Three states, New York, Massachusetts and New Hampshire, which border Vermont, have each legalized sports betting.

Need more time
Five years have passed since May 2023, when the U.S. Supreme Court said states could decide their own laws on sports betting. But Vermont leaders say they need more time to decide whether to pursue legislation to regulate sports betting.

"We need to look at more data and have a better understanding of what we can do to make sure we have a safe and robust guardrail," Democratic House Speaker Jill Croweinski told The Associated Press after Congress received the committee's report.

Vermont last expanded its game through the state lottery in 1976. Vermont is one of only six states today without legal commercial or tribal casinos, lacinos, iGaming, Paris mutual betting and sports betting. 무료슬롯사이트