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With HB 127 passing the Vermont finance committee, legal sports betting has a good chance of passing more than just the committee. The next step for the bill would be to have both the state Senate and House vote on it, which could come soon. Put all that together, and sports betting could be legalized in Vermont in 2023, with a late launch this year for the beginning of 2024.
The Vermont Department of Liquor and Lottery is set to be in charge of sports betting. Here are some fast facts about Vermont's proposed rules or regulations.
The bill sets between two and six online operators.
Sports betting operators would have to give the state 20% of their sports betting revenue.
Operators would be required to pay a one-time $550,000 fee to cover their licensing costs.
This fee will not be paid more than once every three years an operator is in business in Vermont.
The House has already passed a version of this bill but would still need to agree to the changes. It first has to pass in the Senate before going back through the House. If it can pass both chambers, the bill would be sent to Governor Phil Scott, who has said previously he supports the bill and sports betting.
AUTHOR
Michael Savio
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Michael is an avid sports fan and a veteran bettor from Milwaukee. He learned the trade from his grandfather in Las Vegas as a kid and has turned that into a successful career. He cheers for all Wisconsin pro teams along with his Alma Mater Arizona State. He specializes in baseball betting, but has experience in football, basketball, and hockey as well. When he isn’t pouring over stats, he’s spending time with his two young children.
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