Vermont state senators Dick Sears and Michael Sirotkin have filed a bill that would allow mobile, but not land-based, sports betting in the state.
Bill S.213, to “ to establish a system for the licensure and regulation of mobile sports wagering operators and suppliers, authorize sports wagering through licensed operators, and tax gross sports wagering receipts,” was filed on 7 January.
The bill includes a 10% tax on the gross sports wagering receipts of each operator, much lower than many other states, including neighbouring New Hampshire, where DraftKings must pay 50% of revenue back to the state under its exclusive agreement.
The taxes will be paid into the state’s general fund and if an operator loses money, the losses can be used to offset future tax payments, reducing operators’ tax bills further.
A 10% tax will also be applied to real-money fantasy sports contests, replacing the previous $5,000 fee.
Betting in the state will be regulated by the Vermont board of liquor and lottery.
The bill also said that, “the branding for each mobile application or digital platform shall be determined by the operator,” suggesting a multi-skin solution. There is no limit on the number of licenses included in the proposal.
The act is intended to take effect on 1 July, 2020 and players must be aged at least 18 to place a wager.
Sears and Sirotkin’s bill has received its first reading and has been referred to the Senate Committee on Economic Development, Housing and General Affairs.