{"id":956,"date":"2023-07-21T10:12:04","date_gmt":"2023-07-21T07:12:04","guid":{"rendered":"https:\/\/xxbet-company.com\/vermont-approves-sports-betting-procedures\/"},"modified":"2023-07-21T10:12:04","modified_gmt":"2023-07-21T07:12:04","slug":"vermont-approves-sports-betting-procedures","status":"publish","type":"post","link":"https:\/\/xxbet-company.com\/ja\/vermont-approves-sports-betting-procedures\/","title":{"rendered":"Vermont Approves Sports Betting Procedures"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_34 counter-flat ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">\u76ee\u6b21<\/p>\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1'><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/xxbet-company.com\/ja\/vermont-approves-sports-betting-procedures\/#AML_Clarification_Sought\" title=\"AML Clarification Sought\">AML Clarification Sought<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/xxbet-company.com\/ja\/vermont-approves-sports-betting-procedures\/#Evolving_Process\" title=\"Evolving Process\">Evolving Process<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/xxbet-company.com\/ja\/vermont-approves-sports-betting-procedures\/#Competitive_Bidding_Process\" title=\"Competitive Bidding Process\">Competitive Bidding Process<\/a><\/li><\/ul><\/nav><\/div>\n<p>Regulators in Vermont this week approved rules for newly legal sports betting in the state, setting the stage for sportsbooks to pursue operations.<\/p>\n<figure aria-describedby=\"caption-attachment-238355\" data-style=\"width: 858px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-238355 size-post-thumbnail-858xAUTO\" src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/10\/AdobeStock_434322836-scaled-e1631010697737-858x572.jpg\" alt=\"Vermont sports betting gambling sportsbooks online\" width=\"858\" height=\"572\" srcset=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/10\/AdobeStock_434322836-scaled-e1631010697737-858x572.jpg 858w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/10\/AdobeStock_434322836-scaled-e1631010697737-430x287.jpg 430w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/10\/AdobeStock_434322836-scaled-e1631010697737-302x200.jpg 302w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/10\/AdobeStock_434322836-scaled-e1631010697737-238x158.jpg 238w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/10\/AdobeStock_434322836-scaled-e1631010697737-194x128.jpg 194w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/10\/AdobeStock_434322836-scaled-e1631010697737.jpg 1200w\" sizes=\"(max-width: 858px) 100vw, 858px\" title=\"\"><figcaption class=\"text-description\">A \u201cWelcome to Vermont\u201d sign greets motorists. Vermont regulators this week approved procedures that will lay the groundwork for sportsbooks to begin operating in the state. (Image: Shutterstock)<\/figcaption><\/figure>\n<p>Vermont last month became the 38th state to <a href=\"https:\/\/www.casino.org\/news\/vermont-legalizes-sports-betting\/\" rel=\"nofollow noopener\" target=\"_blank\">legalize sports betting<\/a>, and sportsbooks are expected to be operational by the end of this year or early next.<\/p>\n<p><strong>The Vermont Liquor and Lottery Department voted this week to approve <a href=\"https:\/\/liquorandlottery.vermont.gov\/sites\/liqlot\/files\/documents\/VT%20Sports%20Wagering%20Procedures%2007-19-23.pdf\" rel=\"nofollow noopener\" target=\"_blank\">sports wagering procedures<\/a> establishing requirements for operators.<\/strong><\/p>\n<p>The department\u2019s board of directors on Wednesday unanimously approved the procedures but acknowledged that the document could evolve once the sports betting program gets up and running.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"AML_Clarification_Sought\"><\/span><b><\/b><b>AML Clarification Sought<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>One area that requires clarification is anti-money laundering requirements, following a question from a BetMGM representative at <a href=\"https:\/\/liquorandlottery.vermont.gov\/vermont-board-liquor-and-lottery\/board-meetings\" rel=\"nofollow noopener\" target=\"_blank\">Wednesday\u2019s meeting<\/a>.<\/p>\n<div class=\"callout\">\n<p>The BetMGM employee, who didn\u2019t give their full name, asked for additional guidance on a requirement for sportsbooks to \u201cassure ongoing compliance with the local AML (anti-money laundering) regulations.\u201d Given that the federal government typically sets AML regulations, it\u2019s unclear what additional local rules also could be applicable.<\/p>\n<\/div>\n<p>Lottery officials said they would have to check with the state Department of Financial Regulation, which consulted on that section of the provisions.<\/p>\n<p>\u201cThis is a living document, so if that needs to be tweaked or changed, we can certainly come back with those changes based on their recommendation,\u201d Board Chair Martin Manahan said.<\/p>\n<p>The procedures adopted Wednesday are the <a href=\"https:\/\/liquorandlottery.vermont.gov\/sports-wagering-procedures\" rel=\"nofollow noopener\" target=\"_blank\">fourth version of the document<\/a> considered by the lottery board. The latest version included minor tweaks and typo fixes compared to a version approved on Monday of this week.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Evolving_Process\"><\/span>Evolving Process<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Board members acknowledged that additional changes may be needed in the future. But they anticipate being able to adapt to concerns as the process evolves.<\/p>\n<div class=\"callout\">\n<p>The rules allow sportsbooks to accept wagers on professional and collegiate sports, esports, and virtual sporting events subject to authorization by the department. Betting isn\u2019t allowed on events such as awards shows, youth sports, and regular-season games involving Vermont-based universities.<\/p>\n<\/div>\n<p>Vermont hopes to attract at least two and as many as six sportsbooks to launch in the state, and several have shown some early interest in the process.<\/p>\n<p>A handful of operators filed detailed <a href=\"https:\/\/liquorandlottery.vermont.gov\/public-comments-draft-sports-wagering-procedures\" rel=\"nofollow noopener\" target=\"_blank\">comments<\/a> on the proposed wagering procedures, including BetMGM, FanDuel, DraftKings, and Caesars Sportsbook.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Competitive_Bidding_Process\"><\/span><b>Competitive Bidding Process<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Sportsbook operators will be selected through a competitive bidding process, similar to how other contracts are awarded in the state.<\/p>\n<div class=\"callout\">\n<p>Applicants will be judged on several criteria, including how much of their revenue they agree to share with the state. A minimum 20% revenue share will be required. But extra consideration will be given to companies that agree to share more with the state.<\/p>\n<\/div>\n<p>Sportsbooks will also have to pay a $550K operator\u2019s fee every three years to be eligible to participate in the state.<\/p>\n<p>The post <a rel=\"nofollow noopener\" href=\"https:\/\/www.casino.org\/news\/vermont-approves-sports-betting-procedures\/\" target=\"_blank\">Vermont Approves Sports Betting Procedures<\/a> appeared first on <a rel=\"nofollow noopener\" href=\"https:\/\/www.casino.org\/news\" target=\"_blank\">Casino.org<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Regulators in Vermont this week approved rules for newly legal sports betting in the state, setting the stage for sportsbooks to pursue operations. A \u201cWelcome to Vermont\u201d sign greets motorists. Vermont regulators this week approved procedures that will lay the groundwork for sportsbooks to begin operating in the state. (Image: Shutterstock) Vermont last month became the 38th state to legalize sports betting, and sportsbooks are expected to be operational by the end of this year or early next. The Vermont Liquor and Lottery Department voted this week to approve sports wagering procedures establishing requirements for operators. The department\u2019s board of directors on Wednesday unanimously approved the procedures but acknowledged that <a href=\"https:\/\/xxbet-company.com\/ja\/vermont-approves-sports-betting-procedures\/\" class=\"more-link\">&#8230;<\/a><\/p>","protected":false},"author":1,"featured_media":957,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/xxbet-company.com\/ja\/wp-json\/wp\/v2\/posts\/956"}],"collection":[{"href":"https:\/\/xxbet-company.com\/ja\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/xxbet-company.com\/ja\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/ja\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/ja\/wp-json\/wp\/v2\/comments?post=956"}],"version-history":[{"count":0,"href":"https:\/\/xxbet-company.com\/ja\/wp-json\/wp\/v2\/posts\/956\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/ja\/wp-json\/wp\/v2\/media\/957"}],"wp:attachment":[{"href":"https:\/\/xxbet-company.com\/ja\/wp-json\/wp\/v2\/media?parent=956"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/xxbet-company.com\/ja\/wp-json\/wp\/v2\/categories?post=956"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/xxbet-company.com\/ja\/wp-json\/wp\/v2\/tags?post=956"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}