Montana has taken another step towards launching sports betting operations.
On Friday, the Montana Lottery Commission approved rules for sports betting in the state of Montana.
Now that the rules for sports betting have been approved, they will be published in the Montana Administrative Register, which is published twice a month.
The state lottery’s sports betting product will be called Sports Bet Montana.
Rules for Sports Bet Montana
The Lottery’s sports betting rules allow for anonymous sports betting to take place at land-based sportsbooks within the state.
Residents and visitors hoping to bet online will have to create an account to ensure they are of the legal betting age, while bettors at land-based venues will have to verify their identity before they can place a bet.
The regulations also create a voluntary self-exclusion program which will give bettors the option to set deposit, spending and time limits. Under the regulations, players must be at least 18 years old to place a bet and any accounts which remain inactive for 18 months must be closed.
These rules still need approval from the public before they can come into effect.
The journey to sports betting Montana
In early May, Governor Steve Bullock signed a bill legalizing sports wagering into law. The passage of this bill made Montana the first state to legalize sports betting in 2019 and the ninth state to legalize sports betting in the US.
Under Montana’s sports betting law, sports wagering will be overseen by the state lottery. Sportsbooks will be subject to a tax rate of 8.5% on receipts and licenses will cost $1,000.
Lottery sales agents, that apply for a $50 license, will also be able to offer sports betting. Authorized lottery agents that offer sports wagering are entitled to a 6% base commission of the value of bets made and bonuses for reaching sales targets.