Online sports betting begins in Vermont in the new year
Legal online sports betting is scheduled to launch in Vermont on January 11, 2024. Gov. Phil Scott (R) and Department of Liquor and Lottery Commissioner Wendy Knight officially set Jan. 11 as the date for betting.
The Green Mountain State will become the 38th state to offer online sports betting. Scott signed the sports betting law into law in June.
Vermonters and visitors will soon have access to a regulated sports betting market that provides important consumer protections and generates revenue for the state," Scott said.
Commissioner Knight expects the state to generate up to $7 million in revenue in the first year of operation.
Knight said the plan is to roll out the framework in time for the NFL season. But now it's expected to kick off with the Super Bowl, the most-betted game of the year.
Vermont’s Mobile Platform of Choice
DraftKings, FanDuel and Fanatics have been selected to operate mobile betting platforms in Vermont. The sports betting law signed by the governor allows for the issuance of up to six online sports betting licenses to qualified operators.
Commissioner Knight said the state may add more operators in the future. Healthy gambling is another topic of focus as January 11 approaches.
Responsible gambling is important to governments and legislators, so we are establishing safeguards to protect players from the health or financial risks of excessive betting," Knight said.
Sports betting laws do not allow brick-and-mortar bookmakers in Vermont, and credit cards cannot be used for betting purposes.
Operators pay the department a fee of $550,000, plus a percentage of adjusted gross sports betting revenue.
Important things first
Players can pre-register their accounts now. Bettors must be over 21 years old and can deposit funds using a debit card or personal bank account.
Five sportsbooks were considered during the application process, with three selected opting for a six-year term, with the option of an extension if both parties agree to proceed.
Officials expect Vermont will attract other sports betting operators because of the state's large number of vacation home owners and strong tourism market. Supporting more sports betting, however, could be even more brutal because with about 650,000 residents, Vermont ranks 49th out of the 50 states in population rankings.
Sports betting has been legalized in surrounding states such as Maine, Connecticut, Massachusetts and New Hampshire.
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Source: www.casino.org
