Timeline for Vermont Sports Betting Licenses

On July 25th, 2023, Vermont’ issued a request for proposals (RFP) from sportsbooks to apply to become a licensed sports wagering operator in Vermont. You have until 4:00 pm on August 28th to submit your bid to become a Vermont sports wagering operator.

It not to late to start on your application and meet Vermont’s sports wagering RFP deadline. Keep reading for actions you can take now to improve your chances of winning license, but first, let go over the application process.

Application Process for a Vermont Sports Wagering License

Vermont’s sport wagering request for proposal (RFP) requires you to write and submit documents explaining your future plans to operate a responsible sports betting business. The Vermont sports wagering operator RFP will award licenses via a competitive bidding process.

In other words, you must submit an application that will be scored. The six highest scoring bidders will receive a Vermont sports betting license. Factors that will influence your score include your teams experience in sports wagering, their criminal history, the amount of revenue you plan to share with the state, operating plans, and more.

Required Documents for Vermont’s Sports Wagering RFP

Below is a list of the required documents you must submit as part of Vermont’s RFP for sports wagering operators:

• an estimate of the applicant’s potential adjusted gross sports wagering revenue and the percentage of adjusted gross sports wagering revenue from mobile sports wagering the applicant will pay to the State if selected to be an operator;
• the number of individually branded websites the operator proposes to use for its sports wagering operations in Vermont;
• the applicant’s responsible gaming plan and a description of responsible gaming safeguards that the applicant currently employs;
• a list of all jurisdictions where the applicant and any parent companies are currently authorized to conduct sports wagering operations;
• the applicant’s player acquisition model, advertising and affiliate programs, and marketing budget, including details on how the applicant will convert customers from wagering through illegal channels to wagering legally in the State;
• the estimated time frame for implementing the applicant’s sports wagering operations;
• the applicant’s integrity monitoring systems, including any current affiliations related to integrity monitoring; and
• the applicant’s plan for maximizing sustainable, long-term revenue for the State, including a detailed market analysis.

Seems like a lot? Our sports betting license consultants in Vermont can manage and write your application from start to finish. Schedule a call to learn how we can help you submit a competitive bid for Vermont’s RFP.

Criminal Background Check

In addition to writing and submitting the documents above, you must undergo and pass a criminal background check as part of the sports wagering RFP in Vermont. Thus, if you’re applying for a Vermont sports wagering license, make sure your team has a clean background, as you will be disqualified if any of your owners or principals have a criminal history.

Operator Fees

If you are awarded a Vermont sports wagering license, you must pay an operator fee. The fee is equal to $550,000.

Below are links to the laws and regulations that govern Vermont’s sports betting industry:

• House Bill 127
• Sports Wagering Procedures

By reading those two documents, you will gain a full understanding Vermont’s sports wagering industry as well as the RFP for sports wagering operators.

Vermont’s Department of Liqour and Lottery (“department”) will overee the sports wagering program, incuding the regualtion and issuance of operating licenses. You can check their website for the latest updates and additional resources.

Our Vermont sports wagering license consultants provide you with links to document related to the RFP:

• Vermont’s Sports Wagering Operator Request for Proposal
• RFP Evaluation Criteria

As you will notice, Vermont’s sports wagering RFP is extensive. You will compete against the largest multi-state operators with the best law firms. Why go at it alone? Work with our sports betting license consultants to submit a bid that will win you license.