The Montana Lottery Commission has approved rules for its new sports wagering product in the state, which will be named Sports Bet Montana.
The rules will now be published in the Montana Administrative Register, which is published twice per month. The register contains all of the state’s administrative regulations as well as the state attorney general’s opinions and interpretations of those regulations.
The new regulations would allow for anonymous retail sports betting. However, all mobile bettors must sign up for an account, while retail players will still have to verify their identity before they can bet.
The regulations also provide for a voluntary self-exclusion program, as well as the option to set personal deposit, spending and time limits. Players must be aged 18 or above to place a bet. Under the regulations, any accounts which do not place a bet for 18 months must be closed.
The Montana Lottery will have an effective monopoly on sports wagering, but the regulations allow for lottery sales agents to offer sports wagering on behalf of the lottery for a $50 license fee.
Sales agents who offer sports wagers are entitled to a 6% base commission of the value of sports wagers made, with a series of potential bonuses for sales targets.
The rules will still need approval from the public to come into effect. In October, the lottery submitted the rules to the public for consultation.
Governor Steve Bullock signed the bill legalising sports betting in Montana in May. The sports betting law, House Bill 725, allows for sports wagering conducted by the state lottery and sets a tax rate of 8.5% of receipts and a license fee of $1,000.
Bullock also vetoed Senate Bill 330, which would have opened up the market to private operators, at the same time. The governor said when he signed the bill that the lottery model, “protects the taxpayer from risk.”
“We’ve been working hard since May to create and build Sports Bet Montana,” lottery director Angela Wong commented.