Vermont Study Prompts Look at the Possibility of Legalizing Sports Betting

Within the online gambling community, the state of Vermont is seldom mentioned. It likely comes from the notion that the state will be one of the last states to legalize online casino gambling or sports betting if at all in the future. Now comes news that there are rumblings about the possibility of Vermont legislators trying to advance some kind of sports betting bill.

Vermont Governor Sign Bill for Sports Betting Study

Back in June of 2021, Vermont Governor Phil Scott signed a little-mentioned bill that called for a study of the possible effects of sports betting in the state. He signed the bill hoping it would motivate state legislators to at least consider the possibility of proposing and passing some form of sports betting legislation.

The study was indeed launched under the guidance of the General Assembly’s Sports Betting Study Committee. Apparently, the study has been completed and some of the information contained within it is prompting some of the legislature’s sports betting advocates to advance the idea.

As there has always been from Democrat lawmakers in the Vermont House, there is a lot of skepticism about the inherent risks associated with allowing residents to enjoy additional forms of gambling. Their concerns are centered on the prompting of financial devastation among a growing number of problem gamblers. These concerns are the primary reason Vermont is the only remaining northeastern state that still hasn’t moved forward with any form of legalized sports betting.

The Committee’s Proposal

With an understanding of the concerns being expressed by Democrats, the nine-member committee has offered up recommendations on moving forward with the creation of sports betting legislation. They also recommended possible provisions that could be added to such legislation to address problem gambling concerns.

Here are some provisions the committee offered to alleviate concerns:

• Restricting sports betting activities to online operations only for tracking purposes
  
• Limiting the amount re4sidents could wager daily, weekly, or monthly
  
• Restricting banking options to cash and debit cards only, eliminating the use of credit cards
  
• Require a bidding process to determine which online operators would be granted licensing (intended to increase the state’s fee revenue)
  

Reports state that these recommendations were finalized on December 6, 2022, with the information due to be sent to legislators by a December 15 deadline.

Pressure is on Vermont Lawmakers

In the small neighboring state of New Hampshire, only one sportsbook is authorized to operate yet is it expected to generate close to $25 million in tax revenue this year. In neighboring New York, the state has already scooped up $546 million in tax revenue over the past 10 months of operations. It’s not a good look that Vermont residents are driving to both of these states so they can legally bet on sports.

With so much tax revenue hanging in the balance, Vermont lawmakers are running out of reasons to not pass wanted sports betting legislation. The bottom line is residents want to have the same sports betting access as residents in 36 states. Maybe, the time has come for Vermont lawmakers to give the green light.