Vermont Committee Suggests new York-Like Sports Betting Model
The committee studying whether and how to legalize sports wagering in Vermont has actually put the finishing touches on its recommendations, including the tip that lawmakers may desire to embrace a model similar to the high-tax jurisdictions of New Hampshire and New York City.
After meeting throughout the fall, Vermont's Sports Betting Study Committee fulfilled again quickly this week to settle its report to the legislature, which suggests the New England state legalize and authorize online sports wagering websites.
Doing so would assist transform the state's existing, unlawful market for sports betting into a "robust, regulated market," the report says, in addition to providing consumers with more protection and producing tax revenue for the state.
Back in the New York groove
The final report to the legislature suggests a minimum of 2 however not more than six online sportsbook operators for Vermont, the only New England state that has not yet legalized sports wagering.
Moreover, the report prescribes a "state-control" design that will select those operators through a competitive bidding procedure for "exclusive agreements" to provide sports betting in the state.
And, while the committee concurred that a state-controlled model would be best for legal sports betting in Vermont, which has no casinos or racetracks, the members likewise concurred that the state shouldn't use its own wagering platform by means of the lotto. Instead, the committee members want something more along the lines of what some other close-by jurisdictions have done.
"The Committee suggests that a sports betting costs need to develop a competitive bidding process for the choice of the State's sports betting operators," the report said. "The competitive bidding process may be structured to be comparable to New Hampshire or New York City.
The committee studying whether and how to legalize sports wagering in Vermont has actually put the finishing touches on its recommendations, including the tip that lawmakers may desire to embrace a model similar to the high-tax jurisdictions of New Hampshire and New York City.
After meeting throughout the fall, Vermont's Sports Betting Study Committee fulfilled again quickly this week to settle its report to the legislature, which suggests the New England state legalize and authorize online sports wagering websites.
Doing so would assist transform the state's existing, unlawful market for sports betting into a "robust, regulated market," the report says, in addition to providing consumers with more protection and producing tax revenue for the state.
Back in the New York groove
The final report to the legislature suggests a minimum of 2 however not more than six online sportsbook operators for Vermont, the only New England state that has not yet legalized sports wagering.
Moreover, the report prescribes a "state-control" design that will select those operators through a competitive bidding procedure for "exclusive agreements" to provide sports betting in the state.
And, while the committee concurred that a state-controlled model would be best for legal sports betting in Vermont, which has no casinos or racetracks, the members likewise concurred that the state shouldn't use its own wagering platform by means of the lotto. Instead, the committee members want something more along the lines of what some other close-by jurisdictions have done.
"The Committee suggests that a sports betting costs need to develop a competitive bidding process for the choice of the State's sports betting operators," the report said. "The competitive bidding process may be structured to be comparable to New Hampshire or New York City.