The state is eager to introduce sports betting but may need to first develop a safer gaming framework.

As sports betting continues to grow in the United States, an increasing number of states are attempting to legalize the industry. A similar conflict is being conducted in Vermont, where an online sports betting bill has moved closer to becoming law.

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Operators will be Permitted to Enter the Vermont State

Recently submitted by Democratic Representative Matt Birong and nine other House members, House Bill 127 seeks to authorize internet gambling on sporting events. In accordance with the proposed revisions, the Vermont Department of Liquor and Lottery will function as the state regulator.Through a contract with the Department of Liquor and Lottery, operators will be permitted to enter the state of Vermont. In addition to a 20% tax on their revenue, operators will be required to pay an annual fee based on the number of enterprises entering the state.

Vermont will permit six sports betting providers in total. If six businesses enter the local market, each will be required to pay an annual operation charge of $125,000. If fewer operators choose to enter Vermont, they will each be required to pay a higher charge. Following the most recent modifications to House Bill 127, the legislation was passed with overwhelming support by the House. The Senate will now decide whether or not to submit the Bill to the Governor of Vermont to be signed into law.

This legislation addresses problem gambling

The proposal, according to proponents of gambling, will provide Vermont with an alternative to the deadly illegal market. Citing GeoComply geolocation data, they asserted that thousands of Vermont players engage in unlawful gambling. According to pro-gambling MPs, the state is losing millions in tax revenue as a result.

Others, though, are concerned about the risks of gambling injury. Vermont lacks the framework necessary to address the issue if compulsive gambling becomes widespread. Even if House Bill 127 comes to a vote, others believe Vermont should secure problem gambling resources and education before introducing online sports betting.The measure itself includes a number of safer gambling regulations, including the creation of a Special Fund for Responsible Gaming, which will be utilized by the Department of Health to identify and treat gambling-related harm.

Currently, Texas legislators continue to discuss the legality of sports betting. A few days ago, Oklahoma House Bill 1027 passed the House and is now headed to the Senate. A law elsewhere in North Carolina would expand the state’s betting sector.