The legalization of Vermont sports betting can become a reality next year. However, several state legislators need some convincing of its benefits. A study committee recommended legalizing sports wagering in the legislative session in 2023.
According to PPH bookie reports, the group agreed that Vermont would benefit from legalizing sports betting and setting up a state-controlled market. The committee suggested that Vermont follow the lead of other states, including New York, Connecticut, and Massachusetts, and implement a competitive bidding process to choose sports betting providers.
Due to the lengthy deployment, reduced user engagement, and poorer revenue generation seen by states that have chosen this strategy, the committee did not propose that Vermont create its own sports wagering platform through the state lottery.
Legalization of Vermont Sports Betting
Since there is currently no other kind of regulated gambling in the state, it was suggested that the Department of Liquor and Lottery manage the sports betting program and award exclusive contracts to sports betting operators. However, the study panel did determine that Vermonters are betting on sports illegally and that a regulated market would provide safeguards and support for potentially problematic gamblers that are now unavailable.
Despite the study’s overall structure, no tax rates were suggested, and the procedures for sports betting were not spelled out. According to political news reports, it is unclear if the research group intends to legalize only online sports betting in the state or retail sports betting.
If legalized, retail sports betting in Vermont would have to occur in states that provide other types of gambling or at casinos outside of the state.
According to GamblingApex.com sources, Vermont has discussed legalizing sports betting before. My Champlain Valley reports that the Vermont Senate has previously approved proposals to legalize sports betting, but these measures have stalled in the House.