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Vermont Governor Phil Scott recently signed a bill to legalize online sports betting in the state. Now, they are turning their focus onto the launch. The Department of Liquor and Lottery (DLL), which will regulate the industry, says they are focused on launching sports betting before the NFL Playoffs begin. It is an aggressive goal considering some states have taken over a year to establish the industry, but they believe they can benefit from the experience of those states.
“We’re definitely building from scratch, but we also have the benefit of relying on 37 other states with regulated sports betting. Ironically we benefit from being one of the last ones [to legalize sports betting],” DLL Commissioner Wendy Knight said. “We are in constant contact with our other partners and other states that are doing online sports betting, and we have been for months to get a sense of what’s working and what’s not working.”
While Vermont will miss out on the NFL season, the playoffs could lead to a massive opening month. They will benefit from an initial rush as new sports bettors flock to sportsbooks, and the playoffs will only boost that. The NFL postseason is one of the most bet events in US sports, giving Vermont plenty of reason to meet its early launch date.
The DLL met on Wednesday to review proposals for enhanced procedures to meet their launch goal. They will be sending out requests for proposals in the next two weeks. Once that is done, they will open up bidding for the state's six sportsbook licenses. Vermont hopes to have this done and operators selected by December, setting up a January launch in the state.
While the application process has not begun, you can expect to see interest from DraftKings, Fanduel, Caesars, and BetMGM. The new market will also give Fanatics/PointsBet a chance to continue to grow, so expect to see them aggressively pursue one of Vermont’s six licenses.
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.More info on Michael Savio
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