Montana starts accepting betting license applications from local vendors
Vendors will get a 6% commission on the value of every ticket sold for sports betting
Montana has this week begun accepting license applications from venues wanting to provide betting via the state lottery’s Sports Bet Montana terminals.
Bettors will only be able to bet via the terminals or the lottery’s mobile app, as long as they are in a licensed venue and connected to the betting terminal technology.
Licensed vendors will get a 6% commission on the value of every ticket sold for sports betting, although stakeholders have likened this to an equivalent of a 70%+ tax on GGR and essentially anti-competitive.
6%? On Handle? That is equivalent to 72%+ on GGR or hold… by the time you take out operating expenses, you can’t even brake even. Need to -117 each of two to be 50/50 to wash your face. https://t.co/nlV2cpV9IR
— Jamie Mckittrick (@JamieRightOnCue) December 11, 2019
The lottery and betting technology is provided by Intralot.
Licensed venues will likely include bars and other stores offering lottery tickets.
Applicants can apply for a betting license via the state’s egovernment system which also provides licenses for selling lottery tickets, alcohol and tobacco and food.
A statement by the state lottery said that as businesses were licensed, it would begin statewide training and installing betting terminals.
Players will be able to access odds and available markets via the Sports Bet Montana app from anywhere in the state.
Montana approved its betting law in May.