Terms Used In Vermont Statutes > Title 31 > Chapter 25 - Sports Wagering

• Adjusted gross sports wagering revenue: means gross sports wagering receipts, excluding voided bets, less winnings paid to authorized participants and any federal excise tax. See
• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• Board: means the Board of Liquor and Lottery. See
• Collegiate sports event: means a sports or athletic event participated in or offered or sponsored by a public or private institution that offers educational services beyond the secondary level. See
• Commissioner: means the Commissioner of Liquor and Lottery or designee. See
• Confidential fantasy sports contest information: means nonpublic information available to a fantasy sports operator that relates to a fantasy sports player's activity in a fantasy sports contest and that, if disclosed, may give another fantasy sports player an unfair competitive advantage in a fantasy sports contest. See
• Contract: A legal written agreement that becomes binding when signed.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Department: means the Department of Liquor and Lottery. See
• Fair Credit Reporting Act: A federal law, established in 1971 and revised in 1997, that gives consumers the right to see their credit records and correct any mistakes. ^{Source: OCC}
• Fantasy sports contest: means a virtual or simulated sporting event governed by a uniform set of rules adopted by a fantasy sports operator in which:

• Fantasy sports operator: means a person that offers to members of the public the opportunity to participate in a fantasy sports contest for consideration. See
• Fantasy sports player: means an individual who participates in a fantasy sports contest for consideration. See
• Fees: shall mean earnings due for official services, aside from salaries or per diem compensation. See
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• following: when used by way of reference to a section of the law shall mean the next preceding or following section. See
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Mobile sports wagering platform: means the combination of hardware, software, and data networks that are used to manage, administer, record, or control sports wagers through mobile devices or the Internet. See
• Operator: means a party who is authorized by contract or agreement with the Department to conduct a sportsbook. See
• Oversight: Committee review of the activities of a Federal agency or program.
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Person: shall include any natural person, corporation, municipality, the State of Vermont or any department, agency, or subdivision of the State, and any partnership, unincorporated association, or other legal entity. See
• Prohibited sports bettor: means :

• Sports event: means an event at which two or more persons participate in a sports or athletic event. See
• Sports governing body: means the organization that prescribes final rules and enforces codes of conduct with respect to a sporting event and the participants in a sporting event. See
• Sports wager: means cash or cash equivalent paid by an individual to participate in sports wagering. See
• Sports wagering: includes single game bets, teaser bets, parlays, over-under bets, money line bets, pools, exchange wagering, in-game wagering, in-play bets, proposition bets, and straight bets. See
• Sportsbook: means the business of accepting sports wagers on any sports event by any system or method of wagering. See
• State: when applied to the different parts of the United States may apply to the District of Columbia and any territory and the Commonwealth of Puerto Rico. See
• sworn: shall include affirmed. See
• Town: shall include city and wards or precincts therein; "selectboard members" and "board of civil authority" shall extend to and include the mayor and aldermen of cities; "trustees" shall extend to and include bailiffs of incorporated villages; and the laws applicable to the inhabitants and officers of towns shall be applicable to the inhabitants and similar officers of all municipal corporations. See
• Type of wager: means the form of a wager offered by an operator, such as those described in subdivision (15)(C) of this section. See