- The state of Vermont could see the legalization of mobile and internet wagering on sports in the near future as a new bill has been introduced to a Senate Committee.
- Vermont is home to zero casinos making the internet platform-based bill for gambling a smart choice.
- Other states offering a mobile betting option have seen more wagers being placed through these outlets than that of land-based sportsbooks.
MONTPELIER, Vt. – The Vermont Senate Economic Development, Housing, and General Affairs Committee was formally introduced to a new bill centered around online and mobile sports betting on Tuesday.
The end of February 2019 saw a different bill for wagering on sporting events by Vermont House Representative Thomas Burditt, VT H484, take the floor only to stall out beyond that point.
Member of the Vermont Senate, Richard Sears, is sponsoring the latest bill, VT S213.
What’s In A Bill?
Sears’ sports betting bill proposes that the internet and mobile wagers be legalized and regulated by the Board of Liquor and Lottery for the state.
The board would be responsible for the general rules and regulations regarding the pastime. They would approve licenses for businesses interested in offering legal sports betting. Sports bettors in the Green Mountain State would be allowed to gamble on all sports, from college to professional teams.
The state legislature will be in session until May 8, giving the committee an ample amount of time to approve and legalize sports betting. Under the latest bill, Vermont would require a 10% tax to be paid on the gross revenue from all sports wagering activities. Licenses would cost $10,000 with an annual renewal rate of the same amount.
What Sports Betting Would Mean To Vermont
Should sports betting become a legal activity, the state could see a few million dollars in potential revenue. Mobile wagering on sports is the preferred method for gamblers nationwide and states have seen huge gains because of it.
Rhode Island Governor Gina Raimondo estimated a $3 million tax revenue boost from land-based and mobile sports gambling for their state. Vermont could see a similar amount should they choose to allow residents the ability to engage in sports betting.
Currently, the only legal gambling in Vermont comes from the state’s lottery. If the new bill becomes legal, the state could see legalized internet and mobile sports betting by the time the NFL season rolls back around in 2020. It would be in Vermont’s best interest to make the activity legal as neighboring states have already done so or are in the process of doing so.
That equates to potential losses of revenue to these other states without the legalization of sports betting.
News tags: NFL | Rhode Island | Richard Sears | The Vermont Senate Economic Development Housing and General Affairs Committee | Thomas Burditt | Vermont | Vermont Board of Liquor and Lottery | VT H484 | VT S213
Christina has been writing for as long as she can remember and does dedicated research on the newly regulated sports betting market. She comes from a family of sports lovers that engage in friendly bets from time to time. During the winter months, you can find Christina baking cookies and beating the entire staff at Mario Kart…the N64 version of course.