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The Green Mountain State is set to join the ever-growing ranks of states that have legalized some form of sports betting. Online sports betting will go live in Vermont tomorrow, January 11, with three operators set to launch their sportsbooks.
Vermont legalized sports betting over the summer when Governor Phil Scott signed HB 127 into law in June. The Governor said he hoped the industry would launch in time for Super Bowl LVIII, a goal that will be easily surpassed.
The Vermont Department of Liquor and Lottery (VDLL) is the state's sports betting regulator. They have awarded three operating licenses for tomorrow’s launch. DraftKings, Fanatics, and FanDuel were all approved, leaving the state with three open licenses. All operators will have their revenue taxed at 20%.
"We looked at the proposals compared to the evaluation criteria," said VDLL commissioner Wendy Knight, "The legislature intends to prioritize selection based on protecting Vermonters from problem gambling, converting the illegal market to a legal market, and then maximizing revenue to the state."
Tomorrow’s launch will only include online sports betting. Retail sports betting has not been approved, and no significant plans exist to change that.
While there has been support for legal sports betting in Vermont since 2019, they are the last state in the New England region to do so. Money pouring over state lines was a driving force for Vermont to legalize the industry, despite some concerns over gambling problems.
The benefit of Vermont being last is that they were able to study neighboring markets. Several states have similar populations to Vermont, allowing them to get an idea of best practices. It helped the state attract three major sportsbooks despite having the second-smallest population in the country.
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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