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Vermont Mobile Sports Betting Industry

Mobile Sports Betting Operators Express an Interest in Vermont

By Amelia Walker Senior Content Writer Updated: 27 September 2023

Amelia Walker Senior Content Writer

Amelia Walker is a Senior Content Writer at Betting.US. She has a law degree and deep knowledge of the gambling laws in the United States. Her mission is to keep players informed about responsible gambling, while her passion for sports helps her create useful guides. Amelia has over a decade of experience in betting, which has positioned her as a trusted voice among our readers.

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Following Governor Phil Scott’s move to sign Vermont’s sports betting bill into law, a number of mobile operators have now expressed an interest in the state.

House Bill 127 was signed into law back in June, and it has now been revealed that several operators have made applications for market entry, including some of the big names in the world of mobile sports betting.

As part of the legislation, up to six online sports betting licenses can be issued to operators that meet the necessary criteria. In order for online sports betting to move forward in the state, a minimum of two licenses must be awarded. This marks the first major gaming expansion in the state since 1977, which is when the Vermont Lottery was authorized.

Five Bids Received for Market Entry

Following its Request for Proposal, the state has now received five bids for market entry. These have been submitted by FanDuel, DraftKings, Fanatics, BetMGM, and ESPN Bet. All applications are to be assessed by the Vermont Department of Liquor and Lottery, as there are no brick-and-mortar casinos in the state.

The review process by the department will involve checking the suitability of each operator, looking into the details of shareholders and key executives, and checking the regulatory conditions proposed by each of the five mobile sportsbook operators in their bids.

Previously, Vermont Lottery Commissioner Wendy Knight said:

I’m excited that we have these well-established — considering how new the industry is — operators that are interested in participation in Vermont.

It is claimed that now the five bids have been received, at least four of the operators stand a good chance of securing a license.

Scoring the Applications

As part of the process, regulatory officials will have to score each of the bids between 0-1000 points. The minimum tax rate that has been set for revenue is 20 percent.

However, it was revealed that the more gross income the operators are willing to share with Vermont, the higher their score will be. In addition, scoring will be based on the operators’ gross and adjusted wagering income forecasts.

Licenses will cost a minimum of $550,000, and these are expected to run for at least three years. In addition, the minimum age for online wagering in the state has been set at 21.

It has been revealed that most of the points awarded as part of the scoring system will be down to each operator’s history in other states where sports betting is legal. In addition, there will be points awarded based on the operator’s commitment when it comes to responsible gaming, which has become a prevalent issue in all sports betting and gambling states.

Another area where operators can score points is through demonstrating technological capabilities and regulatory safeguards.

It is thought that regulators in the state will award the first licenses to interested operators very soon, and the launch of mobile sports betting is expected to be early in January 2024.