Vermont’s gaming regulators have finally started accepting bids for online sportsbooks, with an aim to launch operations by early January 2024. On Wednesday this week, the Green Mountain State’s Liquor & Lottery Commission posted the Request for Proposal (RFP) on its official website, marking the latest step in setting up a legal sports betting program. Bids from sportsbook operators are due by 28th of August, and the new operations are expected to be up & running by January 1, 2024.

The sports betting law of the state, which was signed by Governor Phil Scott last month, allows the state to award 2-6 sportsbook licenses. Under the new law, betting will be allowed exclusively online, as the state has no brick-& -mortar casinos.

The licenses will be awarded through a competitive bidding process, similar to what is used to award other contracts in the state. The whole bidding process will be overseen by the Vermont Department of Liquor & Lottery. The state agency has set up a scoring system that will take into account a range of factors, including the track record of the operator and revenue sharing.

A minimum of four sportsbook operators are expected to make bids for the few licenses that are to be issued. It is worth-mentioning here BetMGM, Caesars, DraftKings, and FanDuel had submitted their comments on sports wagering procedures earlier this month.

In a recent interview, Vermont Lottery Commissioner Wendy Knight said that he was excited at the fact that well-established operators have shown interest in the state’s new industry. However, he admitted that online sports betting will miss the NFL season. Still, betting enthusiasts will likely be able to enjoy the new activity during the Super Bowl season.

Speaking on the topic, Knight said, “I’m excited that we have these well-established — considering how new the industry is — operators that are interested in participation in Vermont. We’ll get it up and running in time for the Super Bowl.”

The 191-page RFP outlines the detailed process of filing applications in addition to numerous requirements to be fulfilled by potential operators. Licenses will be awarded for a period of three years, with the option to renew the license for an additional period of up to two years.

Sportsbook operators interested in licenses will have to pay a fee of $550,000 in addition to agreeing to a minimum 20 per cent revenue-sharing requirement. Operators that will agree to additional revenue sharing will get additional points.