Soon sports betting in Vermont will become completely legal

Vermont Sports Betting Laws & Regulations

Vermont Sports Betting Bill Heading to Governor

By Lisa Spencer Senior Editor Updated: 15 May 2023

Lisa Spencer Senior Editor

As a Senior Editor at Betting.US, Lisa Spencer is a valuable member of our expert team. With a Master’s degree in Applied Mathematics, Lisa is adept in gambling theory and analyzing odds. She contributes by writing online sportsbook reviews and finding competitive markets to help our readers make an informed choice.

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Vermont will soon become the latest state to legalize sports betting, after H.127 was passed by the House. This came after the Senate agreed to several changes to the bill last week.

The bill now heads to the desk of Gov. Phil Scott to sign, and he is expected to add his signature to the bill without delay or protest. Sports betting journalist Geoff Zochodne tweeted:

The legislation is now headed to Gov. Phil Scott, who has supported legalization.

The bill means that Vermonters will be able to bet at two to six sports betting platforms. But they won’t be able to bet in-person, as retail sports betting will remain illegal in the state. This is because the state lacks the infrastructure required to offer retail sports betting locations.

Once signed into the law, the Department of Liquor and Lottery will receive applications from companies to offer sports betting in Vermont. The exact number of apps available will depend on the number of sportsbooks the department can sign-up. There is also the chance that they won’t accept any candidates, if no suitable applications are made.

Any operator that does come onboard and begin offering sports betting in Vermont would be required to pay an annual license fee of $550,000, and their minimum revenue share rate would be 20 percent.

$2 Million in Taxes Predicted Per Year

One of the main motivations of lawmakers voting for legal sports betting is the taxation the state can receive. It is estimated that in the first year of legal betting, which is projected to be 2024, the state will earn approximately $2 million through taxation. This would increase to anything from $4.6 million to $10.6 million in 2025, and then $10 million every year after.

While these figures are low compared to many other states, they are considerable for a state like Vermont, with a population of just under 650,000 people.

As in many states, problem gambling schemes will receive part of the taxation – in Vermont’s case, this will amount to $250,000 in the first year, then $550,000 per year after that. All other revenue derived from sports betting taxation will go to the general fund.

Another big reason for sports betting being legalized is to tackle illegal betting in the state. Without legal options, gamblers are not protected by law and therefore can’t guarantee they’ll be treated in a fair and honest way.

Last State in New England to Legalize Betting

The northeast of the country has become something of a hotbed for legal gambling, with all states in New England aside from Vermont offering legal sports betting in some way or another. Once sports betting is legalized, the closest state to Vermont not offering legal betting will be South Carolina, which is around 1,000 miles away.

Vermont will also share one distinction with Tennessee, which has had a thriving betting industry for a while now. They will be the only two states to only offer legal mobile betting – neither state will allow betting in-person. This shouldn’t be much of a problem, as other states with both have reported upwards of 99 percent of bets being made online.