Vermont’s new regulations on sports betting allow it to choose between 2-6 operators. The state may very well accept all five RFPs after receiving the requests for proposals from interested operators.
BetMGM, DraftKings and FanDuel are all sports betting companies that have submitted bids to the state. Caesars Sportsbook failed to submit a bid despite providing feedback during the public comments period.
The state can approve all five but is only required to do so for two. Vermont Department of Liquor and Lottery will now evaluate the bids using 1,000-point rubrics to assess each applicant.
The rubric’s biggest points-getters are responsible gaming programs, product quality, and sportsbook quality. Operators can earn up 100 points on the revenue side based their AGR and handling projections. Operators can earn anywhere between 25 and 100 points for tax rate proposals.
If an operator proposes to offer a tax rate that is between the mandated 20-30%, then it will be worth 25 points. However, if it offers more than 51% it will earn 100 points. If operators are willing and able to pay a higher rate of tax, it could eliminate
Since the state has proposed a launch date of Jan 1, 2024 for online sports betting, the time is short for the lottery to review and approve applications.