On Tuesday, Vermont joined the fray of many other states that have legal sports wagering by introducing a bill that would legalize mobile sports betting. This is not surprising, as the state has seen the success of legal sports wagering in the other New England states of New Jersey and Pennsylvania and how much they make in taxing it.
The recently introduced bill is S213, and it was referred to the Senate Economic Development, Housing and General Affairs Committee. In 2019, there was the sports betting bill of H484, but that did not go anywhere and was not passed.
H484 was proposed in late February of last year, so it can be seen, with the introduction of S213 in early January, that Vermont is getting a much earlier start this year when it comes to the debate of legal sports betting.
In the S213 bill, Vermont would legalize online wagering and mobile wagering, and the Vermont Board of Liquor and Lottery would regulate it. The Board of Liquor and Lottery would be able to issue licenses for legal sports wagering, and the cost for those licenses are lower than in other states.
For the first license, the cost would be $10,000, and for a renewal of a license, the cost would be an additional $10,000. Vermont would receive a tax figure of 10 percent of the adjusted gross sports wagering receipts.
Under S213, betting on professional and college sports would be legal in the Green Mountain State.
No Casinos In Vermont
Unlike other states in New England that have legalized sports betting, Vermont is a state that does not have any land-based casinos. It seems with the new bill that there would not be any retail locations for sports betting, but all sports wagers made in the state would be done online or through a mobile application.
This would be convenient for sports bettors in Vermont and also is a solid financial policy, as the handle that states take in from sports wagering is much higher from online and mobile bets rather than at retail locations.
For example, in New Jersey, approximately 86 percent of all bets made in the state are made via the internet.
Not The Only Game In Town Anymore
As stated before, there are no land-based casinos in Vermont, and the state lottery is the only type of legal gambling that is available in the state. Vermont would be on the heels of the other two New England states that have legalized sports wagering in New Hampshire and Rhode Island.
Vermont’s neighbor to the north, Maine, passed a bill in 2019 that legalized sports betting, and that state is awaiting action in 2020. That could be the case for Vermont as well, as if S213 were to become a law, it could have legal online and mobile sports betting in place this year.
The Green Mountain State looks to be another domino falling in terms of legalizing sports betting. With the tax revenue that benefits the states that have that in place, it is just a matter of time before sports betting is legal in all 50 states.